Tuesday, 28 November 2023, 14:46
Christmas has arrived early for pensioners in Spain with more than 9.1 million people already receiving their extra December payment.
The amount has doubled to almost 2,400 euros, some 200 euros more than a year ago due to the 8.5% increase. This amount has risen to more than 2,755 euros in the case of 6.4 million pensioners who pick up an average of 1,377 euros gross per month.
It puts further strain on the country's social security accounts, after it needed to allocate 23.9 billion euros for the extra payments The monthly payroll of contributory benefits set a new record in November amounting to 12.1008 billion euros, exceeding 12.100 billion for the first time, according to government data.
It comes as spending on pensions soars in the new year to unprecedented levels, above 200 billion, due to the new 4% increase in January, which will mean another heavy outlay.
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