The end of the year also marks how much pensions will increase, in this case, by 2026. The new year will bring a revaluation of these benefits of 2.7%, after closing inflation at 3% in the month of November.
This revaluation will assume that … Pensions increase on average by around 570 euros for those receiving the average retirement pension. Likewise, the system’s average pensions will increase by around 498 euros.
But the increase in pensions generally also leads to the debate on system sustainability. Pension reforms in recent years have aimed to ensure this sustainability, especially as the “baby boom” generation begins to retire.
They ask a young man how much money he thinks he should have saved for retirement.
Earlier this month, a user known as “Bruno Finance” took to the streets of Valladolid to ask some citizens how much money they thought they would need to retire. Among them, Miguel, a young Spaniard who responded forcefully.
This young man believes that he should have savings “500,000 euros” to retire. Asked the reasons for his response and whether he trusted the public pension system, this young Spaniard answered sincerely: “Not much”. He added that his main reason is that if “You see the age pyramid, it’s fishy”.
@brunopfinanzas How much money do you need to retire? 🤔 We ask Valladolid how long it takes to live in peace once retired and if they trust the pension system. Opinions are divided. What do you think? 👇 #Retirement #Pensions #Savings #Spain
♬ original sound – Brunopfinanzas
This user also interviewed an older couple. Unlike the young man, the two They admitted to having “defended the interests of the public”. “All my life I’ve heard that they’re going to cut pensions, but that, well, those who work now pay those of us who retired and we paid them before, it’s a wheel. There may be different connotations or that they make you work more or less time or that they keep you longer, but those who have contributed are paid,” said the woman who also explained that she had recently retired with the maximum pension.
“People who approach the issue of health are young and don’t think about it, but don’t let anything big happen to them. Salaries in this country are not enough to pay for an operation,” the man stressed.
In the comments, a user agrees with the young man’s position since she believes that she will also have to pay her own pension since she believes that when it is her turn to retire, there will not be enough resources.