With the arrival of the month of January, good news comes for pensioners and it is the collection of pension revaluation. For this year 2025, the government has approved a 2.8% revaluation for contributory pensions, which will increase by 6% for the minimum pensions except for the minimum pensions with a dependent spouse, which will be 9.1%. For their part, the Minimum Living Income and non-contributory pensions will rise by 9%. Now, pensioners want to know When are pensions collected in January and what will be the increase?.
The Social Security regulations establish that the Payment of all benefits will always be made in arrears between the 1st and 4th of each month. and always at the latest, before the fourth calendar day thereof. This means that the increase should theoretically be collected in the first days of February.
Even so, almost all banking entities have the habit of advancing pension deposits so that pensioners receive their paychecks in their checking accounts between the 22nd and 26th of each month. This is possible thanks to the single centralized account of the General Treasury of Social Security, which connects the administration with the banking entities and allows them to know in advance the data of the beneficiaries and the amounts to be received, which allows them to advance benefits and pensions as long as they do not exceed the value date, that is, the deadline date.
When will pensioners receive the pension with the increase?
The increase in pensions will be paid between Wednesday, January 22 and Monday, January 27, 2025. Depending on the collaborating bank, this deposit can be advanced for its clients, as is the case with CaixaBank, which always deposits the money on the 24th of each month. These would be the approximate dates according to each banking entity:
- Bankinter: Thursday, January 23.
- Engineers Fund: Thursday, January 23.
- CaixaBank: Friday, January 24.
- Cajamar: Friday, January 24.
- Santander: Friday, January 24.
- Ibercaja: Friday, January 24.
- Unicaja: Friday, January 24.
- Sabadell: Friday, January 24.
- ING: Saturday, January 25.
- Abanca: Monday, January 27.
- BBVA: Monday, January 27.
- Kutxabank: Monday, January 27.
What will be the increase in 2025 based on the pension that was collected in 2024?
Social Security has estimated that average pensions, which cover the entire system, will increase by around 500 euros. For its part, the average retirement pension, currently set at 1,447.36 euros per month, will reach 1,487.88 euros per month in 2025, which represents an increase of 40.52 euros per month (567.28 euros per year). Now, how much will it increase for each retiree?
In the following table you can see how they will grow both monthly and annually, applying the provisional increase announced by the Ministry of Social Security.
Monthly pension in 2024 | Monthly pension in 2025 (provisional increase of 2.8%) | Annual pension in 2025 (14 payments) |
---|---|---|
€1,200 | €1,233.60 | €17,270.40 |
€1,300 | €1,336.40 | €18,709.60 |
€1,400 | €1,439.20 | €20,148.80 |
€1,500 | €1,542.00 | €21,588.00 |
€1,600 | €1,644.80 | €23,027.20 |
€1,700 | €1,747.60 | €24,466.40 |
€1,800 | €1,850.40 | €25,905.60 |
€1,900 | €1,953.20 | €27,344.80 |
€2,000 | €2,056.00 | €28,784.00 |
€2,100 | €2,158.80 | €30,223.20 |
€2,200 | €2,261.60 | €31,662.40 |
€2,300 | €2,364.40 | €33,101.60 |
€2,400 | €2,467.20 | €34,540.80 |
€2,500 | €2,570.00 | €35,980.00 |
For its part, the maximum pension will be set at 3,267.60 euros per month whether retirement, another type or collecting several pensions at the same time. Annually, regardless of whether the pension is paid in 12 or 14 payments, the amount may not exceed 45,746.40 euros.
Regarding the minimum pension, the increase will be 6% except for the exception of the minimum pensions with a dependent spouse, which will be 9.1%.