Spain's pension expenditure reached a record high of 13.621 billion euros in August 2025, marking a 6.2% increase compared to the previous year. The average retirement pension rose to 1,507 euros. Over the past seven years, pension spending has surged by 47%, driven largely by adjustments linked to the consumer price index (IPC). Concurrently, pension plans in Spain have experienced net outflows for five consecutive years since 2020, as more individuals withdraw saved capital than contribute. Additionally, the annual contribution per worker to the pension reserve fund, known as the 'hucha de pensiones,' has increased to 245 euros. In Mexico, the Mexican Social Security Institute (IMSS) saw its pension payments grow by 15.7% year-on-year in the first half of 2025, outpacing the institute's overall expenditure.