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What will be Spain's ranking in EU for pension expenditure as a percentage of GDP by end of 2025?
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Eurostat or OECD reports on EU pension expenditures
Story
Spanish Pensions to Rise by 2.8% in 2025, Costing State Over 13.2 Billion Euros Monthly
Dec 13, 2024, 12:17 PM
Spanish contributory pensions are set to increase by 2.8% in 2025, following the confirmation of the November inflation rate at 2.4%. This adjustment will result in an additional cost to the Spanish State of over 13.2 billion euros per month, as per the latest data from the National Statistics Institute (INE). The increase aims to maintain the purchasing power of pensioners in line with inflation, as mandated by the pension reform law. The revaluation will benefit approximately 9.3 million people who receive 10.3 million contributory pensions, as well as the 720,148 pensions under the State Passive Class Scheme. The average pension in the system will rise to around 1,295 euros per month, while the average retirement pension will exceed 1,450 euros. This update reflects the government's commitment to ensuring that pensioners do not lose purchasing power, with the increase being the most modest in the last three years.
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