BUSINESS

Pension spending on target for first five months of the year

Pension spending remained within the limits set by the state budget in the first five months of the year, according to data published on Tuesday, compiled by the Labor Ministry's Helios monitoring system, show.

Pensions paid out from January to May 2104 came to a total of 11.5 billion euros, representing 41.3 percent of state spending for pensions for the year and within the 41.7 percent target set for this period.

On a monthly level, pension payments in May cost the state 2.3 billion euros and the number of people receiving pensions due to old age came to 2,658,32. The average size of Greek pensions has been calculated at 944 euros, according to the data.

The total number of pensions paid comes to 4,469,871 συντάξεις, of which 11,218 are paid to citizens in other countries.

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