THE retired They will have good news by the end of the year as they will benefit from an increase in their pension for Christmas. As has been the custom in recent years, people who receive the contributory pension in 14 payments will see it double next December. This amount will be even higher after the increase in pensions planned for 2024. Find out everything you need to know about pensions in this article.
Last August, 10.2 million contributory pensions were paid to more than 9 million retirees in Spain last month. Of these, 6.5 million correspond to retirement pensions, or 73.1%, which represents an investment of 9,378.6 million euros. The amount of the average retirement pension last month totaled 1,444.3 euros.
This comes after the 3.8% revaluation of pensions planned for 2024 by the Ministry of Inclusion, Social Security and Migration. This has resulted in an average increase in the retirement pension of a total of 734 euros per year, which represents an amount of 52 euros per month per pensioner in Spain. Everything indicates that by 2025 these will increase again, but it is still good news for the millions of Spanish pensioners.
Retirees to benefit from an increase in their pension
All retirees in Spain have seen their pension increase in 2024, but there is another group that, before Christmas You will have another joy and this corresponds to the retirees who have a contributory pension of 14 payments, one in June and another in November. These, as is customary every year, will receive an additional salary that will be paid on the first working day of the following month, that is, December. The deposit will be effective in November since the banks advance their payment by a few days.
As reported by the Social security On its website, “pensions from one of the schemes that make up the social security system are made up of natural monthly payments due and are paid in 14 installments, one for each month of the year and two extraordinary payments that accumulate during the months of June and November.
It is true that there is a group of retirees who are not part of the group of 14 payments and who, as is the case for many workers, receive 12 per year and these two are prorated. These people, logically, will not have a salary increase in December since they are distributed in the payrolls received throughout the year.
People who receive a pension for work accidents or occupational diseases are those who benefit from the extraordinary payments of June and November in proportion to the ordinary monthly payments, so they are entitled to 12 payments per year. Yes, they will have a total of 14 payments, with a double in June and November, those who are entitled to a contributory benefit for retirement, widowhood, orphanhood, permanent disability for non-occupational reasons and a pension for family members without work. reasons.
Those who are part of this group will have a great joy next November after receiving the benefit corresponding to the month of December in addition to an additional payment that will be the same amount as their monthly pension. Logically, the increase in the 3.8% increase in contributory pensions confirmed by the Government facing 2024. Everything indicates that these could undergo a further slight increase next year 2025.
Spaniards approaching retirement age who want to have access to 100% of a contributory benefit You will need to be 65 years old and have contributed for 38 years or more to be eligible to retire in 2024. If these requirements are not met, you will have to wait until you are 66 years and 6 months old. In 2025, those who wish to retire at 65 without penalty will need to be 38 years old and have contributed for three months, otherwise the age to be eligible to retire with the benefit will be 66 years and 8 months.
Dates to be able to retire in Spain
- 2024 – 65 years old if you are 38 years old or older with contributions – 66 years and 6 months.
- 2025 – 65 years old if you have 38 years and 3 months of contributions – 66 years and 8 months.
- 2026 – 65 years old if you have 38 years and 3 months of contributions – 66 years and 10 months.
- 2027 – 65 years old if you have 38 years and 6 months of contributions – 67 years old.
