Alex Trelinski
STATE pensions in Spain are set to exceed an average of €1,300 per month from January.
Some six million pensioners are expected to receive a monthly payment of €1,650.
The final details of the increase will be determined in December based on inflation but experts believe the number will be around 2.7% to 2.8%.
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It will be lowest hike since 2022 due to a fall in inflation and will be well down on the 8.5% rise awarded this year.
The inflation reduction saw September’s figure fall to just 1.5%, which will impact on the 9.2 million pensioners in Spain getting a state income.
Since 2022, pensions have automatically risen to reflect the average inflation rate for the last 12 months (December to November).
That was agreed in the last pension reform aimed at providing security for the elderly and safeguarding their purchasing power.
Average inflation from last December to September 2024 stood at 2.94%, but the final figure will be announced on December 13 and will almost certainly be below 3%.- based on economic forecasts.
Based on a 2.8% increase, pensions will go up €35 per month for those getting €1,300, while the 6.4 million senior citizens on around €1,650 will receive a monthly hike of €45.
Pensioners who were self-employed will receive €992- a monthly rise of €27.
There will also be rises in widows’ pensions and disability payments.
