The National Institute of Statistics (INE) released its final CPI data for November this Tuesday, which serves as a reference for revaluation. pensions in 2023. Finally, benefits and minimum living income will increase by 8.5% next year, one-tenth of the forecast. General budgets of the state. The increase will take effect for its purposes. January 1, 2023 and retirees will already come to their aid with the updated tables in this month’s payroll. increase for contribution retirementIt will increase by 8.5%, the most common among retirees and currently received by about 10 million people. CPI throughout 2022.
2023 will be the second year that the new formula for the automatic annual revaluation of contributions will be implemented, agreed by the Minister of Inclusion and Social Security, José Luís Escrivá, with employers and unions. This is the result of calculating the average inflation between December of the previous year and November of this year. What results in 8.5% for the next workout. In other words, if the average pension is currently 1,141.63 euros (according to the October payroll), it will rise to around 1,238.7 euros by January. 97 euros medium increase. For widowhood, temporary disability or orphanhood, all contributory pensions will increase in the same proportion.
Minimum pensions will also increase by 8.5 percent
Currently the minimum non-contributory pension is €484.61 per month, once extraordinary agreed with Manager EH Bildu to increase these subsidies by 15%. Next year the Government has extended this extraordinary increase and in 2023 minimum non-contributory pensions will continue at 484.61 euros per month. There are about 428,000 people in Spain who receive some form of non-contributory pension – either at the minimum level or for disability. On the other side of the scale maximum contribution pension will go as far 3,059.2 Euros per month. In this sense, the maximum contribution base will increase by 8.5% in line with pensions.
There will be no ‘Paguilla’
While the revaluation of pensions to the previous year’s average CPI was a novelty last year, these 2023 regulations are already adding their second consecutive year of validity, and a ‘paguilla‘ compensatory for the transition between one and the other computational system. Something happened last year, when pensions increased 0.9% at the beginning of the year relative to expected inflation for this year, and knowing the average inflation twelve months later, that’s the difference between 0.9% and 2.5% at the end of the year. From now on, traditional ‘paguillas’ are disappearing from the payrolls.