Overview

• In July, Social Security disbursed €13,620.9 million to cover 10.37 million pensions, with an average gross benefit near €1,311 per month.
• Ministry data show salaried workers retired at an average of 65.15 years in July, with delayed retirements up to 11.4% of new claims and early exits down to 27.6%.
• Economist Gonzalo Bernardos estimates the pension shortfall at about €65 billion and says the system is adding one new retiree roughly every seven minutes.
• Inclusion Minister Elma Saiz is negotiating with unions and employers on steps that include easier flexible retirement, reversible returns to full‑time work, and combining a pension with limited ‘minijob’ hours.
• For people lacking sufficient contributions, the 2025 non‑contributory pension pays €7,905.80 per year (about €564.70 a month in 14 payments) subject to residency and income requirements.