The Government approves the new pension law, which includes contributing benefits according to the average increase in the CPI
This Tuesday, in the Council of Ministers, the Government introduced the new law of the pensions, which includes the revaluation of benefits based on the evolution of the CPI. That is, from now on, the contributing benefits will increase on average IPC. According to calculations published by Social Security, pensions will rise 46.5 euro average per month during 2022. The new rule also includes an increase above inflation for those non-contributory pensions and payments of the Minimum Vital Income (IMV), which the Executive has determined will increase by 3% in 2022.
The revaluation of pensions will benefit from this January to 11.5 million people and will imply a 6,500 million euro increase in Social Security spending. The increase will vary depending on the type of pension the beneficiary receives and that is that the Government wanted to give special protection to those lower benefits and which cover more vulnerable groups. For example, the minimum amount of the contributing retirement pension (without a spouse) increases to 10 104 euros per year and the minimum for the rest of the non-contributing pensions is set at 5 900 euros per year.
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