He Ministry of Inclusion, Social Security and Migrations prepares another increase for contributory pensions in the next year 2025. In 2024 the increase was 3.8% and in the coming months everything indicates that they will be touched again to adjust them to the Consumer price index (IPC). The amount could be around 3% and will be established according to a formula that takes into account inflation in recent months.
Next year 2025 will come with good news for the more than 10 million pensioners in Spain. As already happened in 2024, in which contributory pensions were raised by 3.8% and non-contributory pensions by 6.9%, in the coming months a new increase in pensions will be announced in accordance with the Consumer Price Index (CPI) and with the objective of “guaranteeing the purchasing power of pensioners and favoring the most vulnerable people.”
The increase last year has translated into an increase of 52 euros per month and 734 euros per year in regard to the retirement pensions of Spaniards, while the average pension of the system has increased by 638 euros per year, which represents 46 euros per month. With regard to non-contributory pensions, which in the last year have risen to 7,250.60 euros annually, which is equivalent to 517.90 euros per month in 14 payments. The intention of Government is to continue increasing by a higher percentage the pensions received by people who have not contributed for a minimum of years and who are governed by Imserso and other autonomous communities.
How much pensions are going to increase in 2025
The increase in pensions of 3.8% for 2024 was the result of the average of the CPI between December 2022 and November 2023. This average calculation is carried out with the formula established in Law 21/2021 of December 28, of guarantee of the purchasing power of pensions and other measures to reinforce the financial and social sustainability of the public pension system. This is carried out in accordance with recommendation 2 of the Toledo Pact, guaranteeing the purchasing power of pensioners based on the evolution of the CPI.
So this year the same thing will happen again taking as reference the average variation of the CPI between December 2023 and November 2024. Taking into account that inflation reached 2.2% in the last month of August and that predictions between now and the end of the year place it at just over 3%. So the average of Annual Consumer Price Index It could be 3.06%, according to the first approximate calculations made by the BBVA. According to data provided by the Ministry, the Government It estimates that inflation will grow by 2% between 2024 and 2027, so pensions can grow around that amount between 2025 and 2028.
A couple doing their math.
It must also be taken into account that following the new reform package, as of January 1, the maximum pension will be revalued with the CPI by an additional 0.115 percentage points. This increase will continue until next year 2025.
Requirements to access contributory pensions
People who meet the requirements to access a contributory pension may benefit from this increase, which is expected for 2025. To do this, you must have paid contributions for a minimum of 15 years. Social securityof which two must be in the 15 years prior to receiving the pension. In 2024, to be able to retire at age 65 and access 100% of this benefit, you must have a minimum of 38 or more years of contributions. If these requirements are not met, you must wait until you are 66 years and 6 months old. Looking ahead to 2025, to be able to retire at 65 you will have to have contributions for three more months in addition to the age of 38.
A group of pensioners demonstrates in Madrid. (EP)
Among the contributory pensions are retirement pensions, which take up most of the budget and whose average pension is 1,443.1 euros, in addition to pensions for permanent disability, widowhood, orphanhood or for family members.
With regard to contributory pensions, which are intended for people who have contributed less than 15 years, they are divided into retirement pensions and disability pensions, which are intended for people who have a degree of disability equal to or greater than 65%. After rising 6.9% in 2024, they are expected to have great growth in 2025.
