On Thursday, the government approved the royal decree-law to reform the pension system in the extraordinary cabinet. One of the great points included in the text is Increase the minimum pension the retirement.
What has been sought from the Ministry of Social Security at this point is to equate the minimum pension with the minimum wage for professionals.
The new amount of money that the minimum pension will be raised to
Specifically, this pension will increase to 1200 euros per month in 12 installments. but, The minimum pension will not be increased immediatelybut it will arrive This amount is in 2027. Escrivá refers to the minimum contributory retirement pension for a holder over the age of 65 with a dependent spouse, which “may not be less than the poverty threshold calculated for a family of two adults”.
As the minister explained during the press conference after the cabinet meeting, in the described case, a pensioner over 65 years of age with a dependent spouse will see his pension increase by 22% compared to today.
A pensioner over the age of 65 with a dependent spouse will see their pension increased by
22%
regarding the present
Jose Luis Escrivá
Minister of Social Security
With this fix, that’s meant too Pensions rise above inflation rates in the period 2024-2027 to ensure its adequacy.
Other pension reform measures
Pension reform also includes other key points. One of them is a high income solidarity share that will be 1% in 2025, increasing annually by 0.25% from 2026 to 2045, as will be set at 6%.
In addition, the intergenerational integrity mechanism will be gradually raised and that will be 1.2%. On the other hand, the maximum contribution rules will not be specified.
The fourth stage of this reform will be the extension of the years for calculating the pension. This will allow the pension to be calculated on the basis of the last 25 years of contributions, that is, as currently established by law. Or it will be calculated on the basis of the last 29 years of contributions, but with the option to throw out the worst, or what is the same, The best 27 will be selected.
