Social Security allocated a record 9,681.5 million euros in August for the payment of contributory pensions , 5% more than in the same month of 2018, according to data published Tuesday by the Ministry of Labor, Migrations and Social Security.

Most of the 9,681 million euros destined to pay the payroll of pensions in August went to retirement pensions, with 6,894 million euros (+ 5.2%), followed by widow's pensions, at 1,684.6 million euros were spent (+ 5.1%).

In August 939.3 million euros (+ 3.3%) were paid for permanent disability pensions , orphanage accounted for 138.3 million euros (+ 3.4%) and pensions for family members totaled 24.6 million euros (+ 6.2%).

The number of pensions rose 1.2% in August compared to the same month of 2018, to 9,756,142 pensions, a new system record.

Although the annual growth rate of the number of pensions is not one of the highest in the historical series of the last decade, 43 consecutive months of growth of more than 1% have already accumulated.

Of the total pensions, more than half, 6,048,718, were retirement pensions, with a rebound of 1.8% compared to August 2018, while 2,362,694 were widow's pensions (+ 0.1%), 960.052 permanent disability (+ 0.7%), 341.942 orphanhood (+ 0.2%), and 42.736 in favor of family members (+ 2.2%).

Retirement pension

The increase in pensions this year (+ 1.6% in general) has also pushed up the average amount of benefits.

Thus, the average retirement pension stood at 1,139.83 euros per month at the beginning of this month , 3.4% more than in the same month of 2018. As for the new discharges, the average retirement pension (July) is of 1,338.43 euros in the whole system.

On the other hand, the average pension of the system, which includes the different types of pension (retirement, permanent disability, widowhood, orphanhood and in favor of family members) stood in August at 992.35 euros per month, which represents an interannual increase of 3 , 7%.

The average widow's pension, meanwhile, has registered the largest year-on-year progress in relative values, 5%, up to 713.01 euros per month, after the increase in the regulatory base on which this benefit is calculated from 56% at 60%

The permanent disability pension in August reached an average amount of 978.47 euros per month, with a year-on-year increase of 2.6%. On the other hand, the average orphan's pension amounted to 404.62 euros per month, 3.2% more than in August 2018, while the one for family members stood at 577.01 euros per month, with a rebound of 3.9%.

According to the criteria of The Trust Project

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