The Minister spokesperson for the Government and responsible for the Inclusion, Social Security and Migration portfolio, Elma Saiz, has confirmed that the mechanism to raise pensions in 2027 is already underway. In the press conference after the extraordinary Council of Ministers this Friday, he highlighted that “the first step” has been taken to “guarantee the purchasing power of pensioners”, urgently processing the Royal Decree on the Maintenance of the Purchasing Power of Pensions.
“Just as has been done in previous years, this procedure is what starts the machinery to carry out this revaluation.” For the Government of Pedro Sánchez (immersed in the electoral campaign) this step is “a priority” since “it is urgent that benefits evolve according to the cost of living”, especially on a day in which the INE has released the inflation data (CPI) of October which remains at 4.9%.
The revaluation of pensions will be carried out based on the average CPI of the previous 12 months, a fact that will not be known until December 15. Although what is expected is that announced shortly before the close of the campaign and therefore the electionssince on November 27 the National Institute of Statistics will release the advance data for November.
This first step is the prelude to a process that will continue with the approval of a norm with the force of law in which the amounts of this general revaluation and the minimum pensions will be determined.
Importance of the social dialogue table
Saiz has presented an assessment of the pension reforms that have been carried out since 2018, arguing that thanks to them the model has been modernized and reinforced, following what the Toledo Pact has indicated.
The Executive has signed four agreements on pensions supported by social dialogue agents such as employers (CEOE – Cepyme) and unions (CCOO and UGT). “Pensions have been one of the most active fronts of Government action.”
The Supreme Court denies widowhood to a woman with four children and more than 17 years of cohabitation for not being registered as a de facto couple and fifteen days later a decree changes the law
A retiree born in 1929 works for two days as an economist, notifies Social Security and they demand 4,637.55 euros for a whole month of pension, but the court annuls it
Among the measures adopted, Saiz recalled the protection of the purchasing power of pensioners between 2018 and 2020, the approval in 2021 of the supplement to reduce the gender gap and the reform of contributions for the self-employed in 2022. He has also highlighted the reinforcement of Social Security income in 2023, the improvements to make employment and pension compatible in 2024 and the changes introduced in flexible retirement in 2026. According to the minister, these actions show that the system has been continuously reviewed and adapted in recent years.