More than nine million retirees are waiting to know what the increase in the amount of their contributory pensions (retirement, widowhood and permanent disability) will be. Not all of them, unlike in other years not so long ago, need to wait for these figures to be approved in the general state budgets.
From 2022, the revaluation of contributory pensions is linked to the change in inflation compared to the previous year. This new method was the result of the first stage of the “Escriva reform” of pensions and the objective was to eliminate the uncertainty regarding these increases, which obeyed various criteria, including political ones.
Everything was included in Law 21/2021 of December 28 (you can consult it at this link in the Official State Gazette), which modifies article 58 of the General Social Security Law to establish that “the social security pensions, in its contributory modality, including the amount of the minimum pension, will be reevaluated at the beginning of each year in the percentage equivalent to the average value of the interannual variation rates expressed as a percentage of the Consumer Price Index for the twelve months preceding December of the previous year.“.
Concerning the increase in contributory pensions in 2025, two data remain to be known: that of the CPI for October and that of November. Only in this way can the average CPI of all months and therefore the increase in pensions be calculated.
The National Institute of Statistics (INE) is responsible for collecting and publishing data on inflation according to a very specific procedure: at the end of the month, it publishes the evolution of the CPI data for the month in course and, a few days later, the confirmed CPI data. data.
For this reason, at the end of November, the INE will publish the advance inflation data for this month, with which we will be able to make a forecast quite close to the correct data, and weeks later we will have the final data and, with she, the increase in pensions.
When will the increase in pensions be known in 2025?
The INE publishes the calendar of publications on its website and has already scheduled the preview of November inflation data, which will be available on Thursday, November 28 at 9 a.m.. There we will have the approximation of the increase in pensions in 2025, since the average can be prepared with these provisional data.
However, To confirm the figure for the increase in pensions, we will have to wait until Friday, December 13, at 9 a.m.. At that time, the final CPI data will be available and, with it, the increase in pensions in 2025.
