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It is now known for sure. Spain's INE national statistics institute confirmed on Friday that national contributory pensions will go up in 2025 by 2.8% across the board, in line with average year-on-year inflation. The increase could only be set once the final consumer price index (CPI) figure for November had been released, as happened last week, thereby allowing the increase in pensions for next year to be calculated.
The revaluation will mean an additional 600 euros per year for those people on an average retirement pension, while the average pension in the state pension scheme will increase by around 500 euros per year to around 1,300 euros per month. This increase will benefit the nearly 9.3 million people who receive 10.3 million contributory pensions, in addition to the 720,148 pensions corresponding to the state pension scheme, which will also be revalued at the same rate of 2.8%.
So, for instance, a pensioner receiving a retirement benefit of 1,441 euros per month (coinciding with the average retirement pension in 2024) will receive a monthly payment of 1,481.35 euros in 2025, which means an annual increase of 564.87 euros.
The self-employed, however, will have to settle for an increase of 27 euros per month and receive 992 euros, 650 euros less than salaried workers. For their part, widows' pensions will increase by an average of 25 euros to 922 euros (they have never before exceeded the 900 euro mark). There will be a slightly larger increase in the benefit for those with a permanent disability of 32 euros per month to almost 1,200 euros, while the pension paid to orphans will increase by 14 euros to 516 euros per month and the family allowance will rise from 743 euros to 764 euros, 21 euros more.
The formula used to calculate next year's revaluation is the one established by law in the pension reform designed by José Luis Escrivá (when Spain's Minister for Social Security) and approved in 2021, which once again links pensions to prices (as set by the CPI), in line with the recommendations of the Toledo Pact.
However, this year the system's maximum pension will rise even more, by 2.915% to be precise, meaning an increase to 3,267 euros monthly (45,745.70 euros per year), almost 100 euros more per month than at present. Non-contributory and minimum pensions will also increase by more than 2.8% of inflation in order to improve the income of the most vulnerable.
"This measure is a guarantee of peace of mind for the ten million pensioners in our country, who have worked and contributed for decades. Maintaining purchasing power is a pensioner's right," stressed Spain's Minister for Social Security, Elma Saiz.
The minister also pointed out that the annual revaluation of pensions "is a commitment of the government and we will continue working to strengthen our country's social protection system."
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