New increase in the average pension in Spain. In this month of March, Social Security allocated the record figure of 12,693.1 million euros to the payment of the ordinary monthly payroll of contributory pensions, 6.2% more than in the same months of 2023, as reported this Tuesday the Ministry of Inclusion, Social Security and Migration.
The Department headed by Elma Saiz estimates that pension spending stood at 11.5% of GDP in March.
In March of this year, 10,142,082 contributory pensions were paid, 1.2% more than a year ago, to almost 9.2 million pensioners, 1.1% more. After the increase in pensions with the CPI applied at the beginning of the year, the average retirement pension increased by 4.8% year-on-year in March, to 1,438.2 euros per month.
For its part, the average pension of the system, which includes the different types of pension (retirement, permanent disability, widowhood, orphanhood and for family members), increased almost 5% year-on-year, reaching as of March 1 of this year at 1,251.53 euros per month.
