Pension spending in May 2023 is once again in good taste among Spanish pensioners and retirees. Social Security advises that the amount to be recovered from retirees increases, reaching a pension of 1,375 euros per month at the door of the next charge, with additional summer pay coming in. For the second month in a row, this expenditure is once again 11.7% of GDP, but when has it been spent on pensions?
It seems that the 8.5% revaluation of pension is not the only joy that has been snatched away from the beneficiaries of such contributory assistance. As has been the general trend since the beginning of the year, the average pension does not stop rising, which stood at 1,195.1 euros per month in May. This amount corresponds to different types of contributory pensions: retirement, permanent disability, widowhood, orphanhood and in favor of relatives.
As the agency reports, the monthly payroll has been 11,974.3 million euros. 72.8% is destined to pay retirement with 8,723.1 million euros, followed by widowhood with 1,998.5 million euros. A total of 1,058.4 million has been allocated to pay permanent disability, while 162.8 million and 31.4 million were in favor of orphans and relatives, respectively.
What is the average pension of social security pension in May 2023?
As explained by Social Security, the average retirement pension has increased to 1,375.2 euros per month and the widow’s pension has reached 851.7 euros per month. They are the ones who have experienced that upliftment.
And this from 25th of this month out of more than nine million pensioners who got this new charge, 6.2 million people have retired. A strange fact is that gender differences are visualized when comparing retirement with widowhood. 60.4% are retired men and 95.9% are widowed women.
To address this disparity between men and women, the Social Security Gender Gap Supplement, dated May 1, has benefited 495,859 people, 91.7% of whom are women. The average amount is 65.9 Euro per month.