Pensions worth more than ten million will be revalued by 2.7% in 2026 after learning that inflation rose by 3% in November. This is because the law states that pensions will grow every year at the same rate … The inflation rate during the twelve months between November of the current year and December of the previous year. The average price development in this period was 2.7%. In any case, the official number will be known later December 12When the final data is published, even though these are annual averages, the 2.7% will hardly change.
The increase is similar to the one applied this year, 2.8%, and less than 3.8% in 2024 and 8.5% in 2023, and would mean a cost to the social security coffers of more than 5.2 billion euros, a bill that comes at a very sensitive time for the public system, which needs state aid to pay salaries and with Debts of 126,000 million eurosfour times what it was in June 2018 when Pedro Sanchez arrived in Moncloa. Then the liabilities barely reached 34,000 million.
Amount development
of the average pension
Monthly expenses
Pension salaries
fountain: Ministry of Integration,
Social Security and Immigration /ABC
Evolution of the average pension amount
Monthly retirement salary expenses
fountain: Ministry of Integration, Social Security and Migration /ABC
The increase will apply to all retirements, but as happens in all years, the amount will be higher for retirement Minimum and non-contributionas determined by the pension system reform that was approved last year 2024 with the aim of reducing its margin with the poverty line. In 2025, the minimum pension rose by 6% and non-contributory pensions by 9%, in both cases higher than the 2.8% increase recorded in pensions.
The new update will benefit more than… 9.4 million people Who receive 10.4 million pensions. This will mean an additional €572 per year (40 per month) for the average pension, and €498 per year (35 per month) for the average scheme. 715,000 pensioners will also benefit from the state’s negative class system.
The average Social Security system pension is located at 1,316.7 euros November this year, 4.4% more than in the same month of the previous year. This average includes the amount of pensions of various types (retirement, permanent disability, widowhood, orphanhood, and for the benefit of relatives). The average retirement pension is received by more than two-thirds of all retirees (6.5 million people). 1,511.5 euros per month, after an average increase of 4.3% compared to the same period in 2024. With the update that will be made to their payroll, they will receive about 40 additional euros per month, which will leave their monthly income at around 1,552 euros. In the case of widowhood, whose benefit is determined by: 937 eurosThe increase will be approximately 25 euros, reaching 962 euros.
The maximum is €3,359
In the case of the maximum pension, it will increase in 2026 with the CPI plus an additional 0.115%, as determined by the pension reform. This way, with the revaluation of 2.7% of the CPI plus that additional percentage, it would amount to €3,359.6. The increase in the maximum pension is somewhat higher than the general increase in benefits due to Increase pricing effort Made by higher salaries to pay benefits. Its increase is therefore CPI plus 0.115 percentage points each year.
This year’s contribution premiums have been unprecedented. The maximum rule was raised this year by 2.8%, which is the average annual variation of the CPI between December 2023 and November 2024. Another 1.2% was added to this percentage due to the non-stop in the rules that began operating this year and will remain until 2050, the year in which The cumulative increases will reach 38%.. Following the same growth scheme, this maximum base could grow by 3.9% in 2026 (2.7% of the CPI average plus an additional 1.2%).
Middle East: 0.9% in 2026
A further 0.8% has been added to both growths from the Intergenerational Equality Instrument (MEI), which applies to All salaries regardless of salary level Since January, it has risen by another 0.1 points compared to 2025, reaching 0.9%, and the “solidarity share” that will support salaries exceeding 59 thousand euros. This fee will not generate pension rights, so we deal with the tax.
Targeting the OECD
The revaluation became known after a week in which Spain was the target of criticism from the OECD, which has been repeated over time. Their proposals include a new reform of the system that allows for its sustainability, so that spending adjusts to the increase Average life expectancy And restoring the abolished sustainability factor of the Paris Protocol, which was never implemented, in addition to extending the calculation period to 35 years, so that years of low contributions are also taken into account.
The organization estimates that with the current policy of indexing pensions to the CPI and the retirement generation Baby boomSpain will spend 17.3% of GDP on pensions in 2050. This will be the country with the highest pension spending in the OECD, and this will fall to 16.9% in 2060.