In 2014 total pension expenditure reached 277,067 millions of euro, registering an increase by 1.6% compared to 2013. Its incidence rate on Gdp grew by 0.2 percentage points, and passed from 16.97% in 2013 to 17.17% in 2014.
Old Age pensions represented more than two thirds (70.0%) of total pension expenditure, followed by survivor pensions (14.9%) and welfare pensions (8.0%); the weight of invalidity pensions (5.6%) and injury pensions (1.6%) is far more limited.
Pensions average amount was 11,943 euros, 245 euros more than in 2013 (+2.1%).
Pensioners were 16.3 millions, around 134 thousands fewer if compared to 2013; each of them received an annual average income of 17,040 euros (403 euros more than 2013) bearing in mind that, in some cases, a pensioner may receive more than one pension.
Women represented 52.9% of pensioners and received an average pension income of 14,283 euros (while men received 20,135 euros); almost a half of women (49.2%) received monthly less than 1,000 euros, against one-third (30.3%) of men.
The highest share of pensions was provided in the North (47.7%) area, while 20.4% in the Centre and the remaining 31.9% in the South and Islands area.
New pensioners (people who started receiving at least one pension in 2014) were 541,982, while people who stopped receiving pension in 2014 (the ceased) were 675,860. Annual average income of new pensioners (13,965 euros) was lower if compared to that of the ceased (15,356) and to that of the surviving (17,146), those who benefited of at least one pension also in 2013.
Around one fourth (23.3%) of pensioners were under 65, and half of them (51.9%) were between 65 and 79 years old, and the remaining fourth (24.9%) were over 80 years.
40.3% of pensioners benefited of an average amount of monthly pension income lower than 1,000 euros, 39.1% of them received a sum between 1,000 and 2,000 euros and 14.4% between 2,000 and 3,000 euros, while the share of those who perceived more than 3,000 euros was 6.1%.
Two thirds of pensioners (66.7%) benefited of one pension, one fourth (25.4%) received two pensions, while 7.8% three or more.