Rome

Italy spent 266 billion euros on pensions in 2011

47.9% spent in the north, 31.6% in south

Italy spent 266 billion euros on pensions in 2011

Rome, April 17 - Italian pension spending amounted to 266 billion euros in 2011, up 2.9% over 2010, Istat said on Wednesday. The Italian statistics agency said old age pensions absorbed 71.6% and survivors' benefits took up 14.7%, while disability and welfare payments amounted to 4.2% and 7.9%, respectively. Geographically speaking, 47.9% of pension payments go to northern Italy, 20.5% to the centre, and 31.6% to the south. In 2011, the average annual pension was 11,229 euros, up 352 euros - an increase of 3.2% - over 2010.

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