June 11, 2024
In 2021, the EU spent approximately €1 882 billion on pensions, accounting for 12.9% of total GDP. Although overall pension expenditure climbed by 2.8% from 2020, its ratio to GDP was 0.7 percentage points lower than in 2020, when it was 13.6%.
In 2021, the proportional importance of pension expenditures differed significantly between EU members. This ratio highest in Greece (16.4% of GDP), followed by Italy (16.3%), Austria (15.0%), and France (14.9%).
The lowest ratios were found in Ireland (4.5% of GDP), Malta (6.4%), Hungary (7.0%), and Lithuania (7.1%).
In 2021, 27.2% of the EU population received pensions. When considering the various pension categories, pensions for the elderly were by far the highest in the EU, accounting for 79.9% of total pension spending and 80.3% of recipients. Survivors’ pensions were the second most popular group, accounting for 12.0% of expenditure and 21.3% of beneficiaries, followed by disability pensions (7.9% of expenditure and 12.2% of beneficiaries) and unemployment pensions (0.2% of expenditure and 0.1% of beneficiaries).
(Source: Eurostat)
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