The rise could amount to around 600 euros a year for an average retirement pension and 500 for the average pension in the system.
In 2025, contributory pensions are expected to be revalued by 2.8%, in line with the average year-on-year Consumer Price Index (CPI). The advance CPI figure for November was released today, which makes it possible to provisionally calculate the increase in pensions for next year. The final figure will be confirmed on 13 December, when the definitive CPI figure is published.
Since the entry into force of Law 20/2021, the result of an agreement between the Government and the social partners, pensions have been updated every year in line with price rises to guarantee their purchasing power, in line with the recommendations of the Toledo Pact, as set out in its 2nd Recommendation.
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The Minister for Social Security, Elma Saiz, stressed that this measure ‘is a guarantee of peace of mind for the 10 million pensioners in our country, citizens who have worked and contributed for decades. Raising their pensions is social justice. For me, social justice means that their shopping basket and their life can continue to be the same, without giving up anything’.
The minister stressed that the annual revaluation of pensions ‘is a commitment of the Spanish Government and we will continue to work to ensure that the system, an example among the major economies of our environment, is increasingly stronger, fairer and more sustainable’.
An average increase of 600 euros per year for retirees
The revaluation will mean an additional 600 euros per year for people with an average retirement pension, while the average pension in the system will increase by around 500 euros per year. This increase will benefit the nearly 9.3 million people who receive 10.3 million contributory pensions, in addition to the 720,148 pensions corresponding to the State Pension Scheme, which will also be revalued at the same rate.
A pensioner receiving a pension of 1,441 per month (coinciding with the average retirement pension in 2024) will receive a pension of 1,481.35 euros per month in 2025, which represents an annual increase of 564.87 euros.
The formula used to calculate next year’s revaluation is the one established by Law 21/2021 of 28 December, which established the guarantee of the purchasing power of pensions and other measures to reinforce the financial and social sustainability of the public pension system.