The public pension will rise to more than 3,000 euros per month after Escrivá's contributions are unstoppable

«The gradual adaptation of the maximum contribution base must be concurrent with a modification of the maximum pension so as not to alter the contributory nature of the system». This is the phrase included in the section on the pension reform of the Recovery, Transformation and Resilience Plan with which the Government commits itself to the European Commission to increase the maximum Social Security retirement pension at the same time that it will carry out the unstopping of the maximum bases for workers with salaries above 49,000 euros per year. In addition, in component 30 of the reform plan sent to Brussels, it is clarified that this rise will be gradual and will be applied over the next thirty years. And the limit for its approval is set at the end of 2022. That is, the increase in the maximum bases would begin to operate from 2023, and as confirmed by the Minister of Inclusion, Social Security and Migration, José Luis Escrivá, in several recent declarations, this together with the extension of the years of contributions for calculating the pension will be the first points to be put on the social dialogue table at the return of summer. Desktop code Image for mobile, amp and app Mobile code AMP code 1200 APP code Now, the Government has speculated that the breakout will be substantiated with the incorporation of a new quotation bracket, which could go up to 60,000 euros at the end of the period three-decade transition. Although the Ministry of Social Security does not confirm the amount that the maximum base will reach, they do explain that "the fact that the evolution of the bases follows a very gradual and known path in advance also allows economic agents to adapt adequately" . However, if the increase with which the Government speculates is confirmed, up to 60,000 euros, it would mean an increase of 20.7% in the period of thirty years with respect to the current maximum base, fixed at 49,672 euros per year in 2022 (4,139 .4 euros per month). Neutral financial impact However, Escrivá himself acknowledges that although the measure will lead to an increase in income for the coffers in the first years of application, it will also mean that in the long term Social Security will have to face higher benefit commitments due to the greater contribution level. "Although in the very long term it is neutral, it has the virtue that it is going to generate a significant percentage of income temporarily," Escrivá recently pointed out in an interview. In fact, the reflection of the rise in contributions in the variation of the benefits of the system accounts for the effort that Social Security is supposed to face once the transitional period of application ends. Specifically, this increase in the bases of 20.7% would lead to a proportional increase in benefits. Thus, the maximum retirement pension would grow by 583.7 euros per month, going from the current 2,819.18 to 3,402.8 euros per month at the end of the period -the deployment would end in 2053 if it started next year-. Similarly, the minimum Social Security pension is likely to increase in the short term. The amount of the minimum payment of the system is determined by the minimum interprofessional salary (SMI), currently at 1,000 euros per month. However, it seems that by the beginning of 2023 the Government will carry out a new increase in the minimum remuneration to which the almost two million workers affected by the SMI in Spain will be entitled. MORE INFORMATION The Government charges civil servants with half the cost of the increase in contributions The Vice President of the Government and Minister of Labour, Yolanda Díaz, has confirmed that after the summer she will bring together the social agents to address a new increase in the minimum wage, that could be carried out even before the end of the year, given the escalation in prices that threatens to close the year at 8% and inflict a loss of purchasing power of more than 5% for the year as a whole - the wages agreed by agreement for more than 6 million workers they advance at a rate of 2.5%-.

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