On Wednesday, the Council of Ministers approved a 3.8% revaluation of pensions for 2024, as a result of the average CPI recorded between December 2022 and November of this year.
In addition to the general rise of 3.8%, minimum pensions will once again rise above this figure and, according to the new Social Security Minister, Elma Saiz, next year they will increase by between 5% and 14%. The high range of 14% will apply to widows’ and widowers’ pensions with family responsibilities, which will rise to around €1,033 per month. The new minister also announced that the Minimum Vital Income (IMV) will be revalued by 6.9%.
The average pension in the system was €1,198.7 per month in December. This amount includes the various pension types (retirement, permanent disability, widow’s, widower’s, orphan’s and family allowances). The average retirement pension is €1,378.4.
