August 5, 2021

The government leaves the index to raise pensions in the hands of social dialogue

The government leaves the index to raise pensions in the hands of social dialogue



The Government wants the new index of pension revaluation (IRP) in which it works to go ahead in agreement with the social partners in the tripartite social dialogue table, which will decide how to interpret the recommendation issued by the Toledo Pact to index them to the IPC.

In the press conference to comment on unemployment and affiliation data, the Secretary of State for Social Security, Octavio Granado, has assured that the recommendation reached last week in the Toledo Pact "coincides with the Government's policy", which is "maintain the purchasing power of pensioners".

"As for how to interpret, in the preparation of the standard, the Toledo Pact recommendation to compose the IRP based on the CPI", Granado has made it clear that "we will do it in relation to the social dialogue table, because the interlocutors Social organizations have asked us to take them into account "and we are going to give them" a relevant participation ".

Thus, he reiterated that the new IRP will be submitted for consideration of social dialogue to be presented in the form of draft law in the courts and that, once passed the parliamentary procedure, "the executive branch will execute the decision of Parliament."

In any case, he added, pensions will be revalued in 2019, and probably in following years, according to the CPI, something to which employers and unions are also favorable, said Granado.

"When the Toledo Pact talks about maintaining the purchasing power of pensions, what we want to express is that pensions rise as well as salaries and these determine increases with the CPI of each year," said Granado.

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