The average retirement pension exceeds 1,500 euros per month for the first time

Retirees receive an average pension of 1,501 euros per month , according to records released on Tuesday by the Ministry of Social Security. For the first time, this figure exceeds 1,500 euros per month in 14 payments, which represents an increase of 4.42% compared to February of last year, when the average retirement pension was 1,437 euros. This type of pension is the most common, received by two thirds of pensioners (6.6 million people), and also the highest amount.

This is a higher increase than the 2.8% that, as a general rule, is applied in the revaluation dictated by the Government, in line with the inflation of the previous year. It is a greater increase because not all pensions have grown at this rate, since the minimum pensions have accelerated between 6% and 9%. This figure is also conditioned by what the new entrants have contributed throughout their working life and what the deceased received. It is usual for the former to enter the system with higher amounts than the latter, which raises the average pension even more.

This trend is clearly seen in the average retirement pensions by age group. The average pension for retirees aged 65 to 69 is 1,646 euros, compared to 1,110 euros for retirees aged 85 or older. The gap is also very significant by gender: women receive a retirement pay of 1,194 euros, compared to 1,717 euros for men.

The average permanent disability pension has risen from €1,161 in February 2024 to €1,205 in the last payroll, a jump of 3.79%. The widow's pension has risen from €893 per month to €932 (up 4.4%), the orphan's pension has risen from €501 to €524 (up 4.6%) and the family pension has risen from €738 to €777 (up 5.3%). Thus, on average, the average pension in the system has risen from €1,251 in February 2024 to €1,307 in the last Social Security payment. The previous one, in January, was the first in which this record exceeded €1,300.

13.456 million euros

As for expenditure, the Social Security explains that contributory pensions amounted to 13,455.6 million euros in February. “Three quarters of the contributory pension payroll corresponds to retirement pensions, as usual. Specifically, these pensions account for 73.2% of the payroll, 9,848.4 million euros,” details the department headed by Elma Saiz.

The ministry also highlights the growth of delayed retirements, an objective they are committed to, given the challenge that the aging of the baby boom generation poses for the accounts. According to Social Security data, 9.3% of current retirement registrations are delayed, compared to 4.8% in 2019. At the same time, early retirements are 29.6% of the total, while five years ago they were 40%.

“As a result of the increase in people who voluntarily delay their retirement and the decrease in early retirement, the average age for accessing retirement is 65.2 years , when in 2019 it was 64.4. It should be remembered that in 2022 new incentives for delaying access to retirement came into force and the framework for early retirement has been reconfigured,” adds Saiz's ministry.

There is another variable that is delaying access to retirement: the legal age . This figure has been experiencing a series of increases, and in 2025 it has reached 66 years and eight months . However, this is only for those people who - and this is where the second important part of the equation comes into play - have contributed less than 38 years and three months. Those who prove a period of contributions equal to or greater than this range will be able to retire at 65.