The government has confirmed its forecast for a pension increase beginning in 2024. According to sources associated with the administration, pension amounts are expected to rise by about 4 percent starting next January, with the final figure confirmed once the CPI data for the year is finalized. This approach aligns with the ongoing effort to link pension rises to inflation and maintain purchasing power for retirees.
Simultaneously, the Ministry of Participation, Social Security and Migration released the report Public Pension Expenditure Projections in Spain, which outlines the planned increases for the coming year in both contributory and non-contributory pensions. The document provides a clear view of how beneficiaries can expect enhancements across various pension categories.
In the specific case of non-contributory pensions, ministry estimates indicate a potential annual increase of up to 300 euros for a targeted group of beneficiaries. The figures reflect policy aims to bolster support for those with limited or no contributory records while ensuring a steady adjustment mechanism aligned with inflation and fiscal realities.
Join BİLGİ WhatsApp channel
Increase in pensions for 2024: official confirmation
With government approval, a 4 percent rise in pensions is anticipated. Independent analyses, including those reported by El Periódico de España, suggest the minimum pension could reach approximately 14,453 euros per year, representing an additional 926.2 euros annually. An additional 2 percent increase is projected to be added to this rise in 2025, further sustaining retirees’ purchasing power.
More than 300 euros per year for certain categories
As reported by the same outlets, authorities aim to narrow disparities in pension payments for specific groups, including widows and beneficiaries with dependent family members. The target is to increase support by 300 to 500 euros starting in 2024, depending on category and eligibility, in an effort to reduce gaps in retirement income.
Unemployment benefits and pension adjustments: recent changes
Using the 4 percent benchmark as a reference, widow’s pensions with dependent family responsibilities would be adjusted accordingly. For example, beneficiaries under certain conditions could see amounts around 942.13 euros, while those aged over 65 or with a disability at or above 65 percent might receive about 814.42 euros. Individuals aged 60–64 could see around 761.90 euros, and those under 60 might receive roughly 617 euros.
Regardless of category, starting in 2024, widows’ pensions will include additional benefits if the beneficiary’s career history demonstrates exposure to gender-based pay gaps. These adjustments recognize gender equality considerations within pension policy and aim to address long-standing disparities.
In addition to widows’ pensions, updates to gender-gap adjustments are anticipated to be aligned with CPI changes, with forecasts indicating a notable increase in 2024. If these projections hold, entitlement to supplementary benefits tied to gender differences could range from 30 to 35 euros per month, totaling around 490 euros per year in some cases.