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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