Pensions hold crucial importance for many seniors who rely on them as their primary means to cover living expenses. The exact amount a retiree receives depends on specific rules and can be adjusted by social security authorities at any time.
A typical scenario may show a minimum pension around 783.10 euros with contributions required for at least 15 years. Beyond that baseline, factors such as dependent relatives or the availability of a disability status can increase the benefit. Once these conditions apply, the pension grows as a percentage until it reaches its cap, which in this example might be a maximum monthly pension of 3,000 euros. Achieving that level generally requires at least 36 years and 6 months of work history.
Looking ahead, a new pension framework is slated to come into effect in 2024. In most cases, this reform is expected to lift subsidies for retirees. The increase is planned to unfold over three years with the strongest impact projected for 2027.
Notice to pensioners: If certain steps are not taken, the pension could experience a temporary reduction.
What changes are on the way?
From 2024 through 2027, pension values are set to be adjusted based on 75 percent of the poverty line for a single person living alone. The aim is to boost the portion of income that comes from pensions so that seniors enjoy more reliable support.
In addition, the gender gap supplement that applies to some pensions will rise modestly, adding roughly 10 percent above the consumer price index reference. By 2026, the annual gross pension figure could reach about 16,511 euros. The increases follow a staged path described below:
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In 2024, the supplement is projected to rise by about 20 percent versus 2023.
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In 2025, the increase could be around 30 percent compared with 2023.
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In 2026, the rise is expected to reach roughly 50 percent relative to 2023.
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In 2027, the increase might be as high as 75 percent compared with 2023.
The government is also weighing higher subsidies for other categories such as survivors and those with disabilities. Proposals include increases ranging from the mid to upper teens or low thirties in percentage terms, with some amounts adjusted gradually from 2024 onward. The goal is to ensure steadier support for vulnerable groups through into 2027, with additional measures considered for orphans and dependents as well.