Contributory pensions will be revalued in 2026 by around 2.7%, according to the average annual Consumer Price Index (CPI). This is what emerges from the advance CPI data for November, which allows an approximate calculation of the increase in pensions for next year. However, the exact increase will not be confirmed until December 12, which is when the final CPI is published.
It must be remembered that, since the entry into force of Law 21/2021, pensions are updated each year according to the increase in prices, with the aim of guaranteeing their purchasing power. This was established in the Pact of Toledo.
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From this revaluation, pending confirmation, it follows that retirement pensions will rise approximately an additional 572 euros per year, for people with the average retirement pension. For their part, the rest of the average pensions in the system will experience an increase of 498 euros per year. “This is neither a privilege nor a gift, it is a right guaranteed by our Constitution. Decent and sufficient pensions today and always. Our public pension system is the cornerstone of our welfare state and being able to share this news is a sign of our commitment to continue building the country that we are, the country of solidarity and pioneer in social protection,” defended the Minister of Social Security, Elma Saiz.
There are more than 9.2 million people who will benefit from this increase, which are those who collect one of the 10.4 million contributory pensions, in addition to the 715,000 pensioners corresponding to the State Passive Classes Regime, who will also see their pensions revalued using the same index.
The average pension in November reaches 1,316.7 euros
The average pension of the Social Security system reached 1,316.7 euros in November, 4.4% more than in the same month of the previous year. This average includes the amount of the different types of pension (retirement, permanent disability, widowhood, orphanhood and in favor of relatives).
Regarding the average retirement pension, which more than two-thirds of all pensioners (about 6.5 million people) receive, it stands at 1,511.5 euros per month, after increasing by 4.3% on average compared to the same period in 2024. What should be taken into account is that in November, in addition, these pensioners will receive the extraordinary payment which, in the case of retirees, is 1,492 euros on average.
The revaluation of pensions: “the consolidation of a fundamental measure”
The Minister of Social Security, Elma Saiz, has highlighted that the revaluation of pensions in accordance with the CPI “represents the consolidation of a fundamental measure. Pensioners are guaranteed the maintenance of their purchasing power next year, with the increase in their pensions in accordance with the CPI.”
Along these lines, he added that this update “is a commitment of the Government of Spain,” working “so that the system, an example among the large economies in our environment, is increasingly more equitable and solid.”