Eurostat reported that in 2021, approximately €1 882 billion was spent on pensions across EU countries, accounting for 12.9% of total GDP.
Although total pension expenditure increased 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 relative importance of pension expenditures
varied significantly across EU countries. This ratio peaked 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%).
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