EU pensions amount to 12.9% of GDP in 2021: Eurostat

(ANSA) - BELGRADE, JUN 11 - 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%). (ANSA).