Every month, the Ministry of Inclusion, Social Protection and Migration publishes data on pension payments. In November this year, the state paid out almost 24 billion euros in pensions through additional payments. More than nine million people received them, six million of them were pensioners. The average pension is 1198 euros per month. And these are just a few of them. These are complex numbers that are difficult to understand without context, which paints a much more complete and representative picture of the challenges facing Spain’s pension system.

If in 2013 the state was supposed to pay 5.5 million pensions, then in November of this year they became 6.4 million, 16% more. He number of lifetime benefits what the state should support increased by almost a million Over the past ten years, this rate has been slowed by the coronavirus pandemic, which has caused the death of thousands of elderly people. It was in September that the number of pensions began to rise above 2% year on year, something that has not happened since the 2008 crisis, when many left the labor market early, fearing economic drift. Pressure baby boom This can be seen in pensions.

If we take into account the rest of the pensions paid monthly by the Government, for example, for widowhood, orphanhood and disability, then in total they already exceed ten million, while in 2022 they did not reach nine million. It's also worth remembering that the system will face stress on its books over the next few years, not just from rising CPI-linked pension costs, and not just from the aforementioned retirement-related aging of the population. generations baby boomer, but also why Pensions for new pensioners are significantly higher than their predecessors, as a result of the fact that they achieved better results in their stock market careers than their parents.

According to Social Security, today the average old-age pension is almost 1,400 euros, which is 9% more than a year ago. On the other hand, in the case of new additions, the average pension is one hundred euros higher and amounts to 1,512 euros, which is 2% more than a year ago.