Record growth in pension expenditures in 2026
Data from the National Social Security Institute (NSSI) for the first half of 2026 shows a significant increase in social security budget expenditures. Total pension expenditures amounted to 6.496 billion euros, representing a 10.2% increase compared to the previous year.
The average pension amount for June 2026 reached 517.08 euros, marking an increase of 8.9% compared to June 2025.
Key indicators for the half-year:
- Number of pensioners: 2,069,079 people (a 0.6% increase).
- Consolidated Social Security Budget: Revenue of 4.105 billion euros and expenditures of 7.280 billion euros.
- Cash benefits: 735.6 million euros were paid out, which is an increase of 5.5%.
Updates to benefit payments
As of August 1, 2026, the NSSI expanded the scope of personal payment accounts to which funds can be transferred. It is now possible to receive benefits into accounts held by payment service providers in EEA countries, including the popular platform Revolut.