The Government has confirmed the 2.5% rise in pensions in 2022, after ratifying the CPI data for November. The rise in contributory pensions this year will thus place the minimum retirement at 10,103.8 euros per year, that is, 721.7 euros per month in 14 payments. On the other hand, the maximum will reach 39,468.6 euros per year, 2,819.1 euros per month.
Congress approves the reform that guarantees the revaluation of pensions according to the CPI
In addition, as already announced by the Ministry of Social Security and was reflected in the Budgets for this 2022, the increase will be 3% for minimum pensions, non-contributory pensions and the Minimum Vital Income.
It should be remembered that the minimum retirement pension reaches 12,467 euros per year, 890.5 euros per month, for beneficiaries with a dependent spouse.
The "paguilla" will arrive the second half of January
The Ministry headed by José Luis Escrivá has already announced that "in the second half of January" the so-called "pay" or "compensatory pay" will be paid, which adjusts the increase approved in 2021 to the real inflation of the period.
In 2021, even without the new revaluation mechanism approved, the Government agreed to raise pensions based on the inflation estimate, which was 0.9%. As prices finally rose an average of 2.5%, the Executive will pay the beneficiaries a compensatory payment that updates their pensions by 1.6 percentage points more, to adjust the increase to the average for the year.
The revaluation of contributory pensions with inflation will entail an expense of "almost 5,000 million" this year, according to the Secretary of State for Social Security and Pensions, Israel Arroyo, recently reported, reports the EFE agency. Those 5,000 million include both that rise of 2.5% and the "pay."
In November 2021, there were 8.9 million recipients of contributory pensions and 9.9 million pensions, as some people receive more than one benefit.