Contributory pensions in Spain are set to rise by around 2.7 per cent from January 1, following confirmation by the National Statistics Institute (INE) of the average annual CPI over the past twelve months – the key figure used to adjust benefits. However, not all pensions will increase by the same amount.
Average pensionholders to see €570 annual rise
For those with the average retirement pension, the increase will mean roughly €570 extra per year, while the average pensions across the system will rise by around €500 annually.
Maximum pension recipients gain €92 per month
The luckiest retirees will be those receiving the maximum pension, which will rise from €3,267.60 to €3,359.60 per month – an increase of €92 – bringing gross annual income to €47,034.
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Top-tier pensions enjoyed by 120,000 retirees
Around 685,000 retirees in Spain receive the highest pensions, those above €3,000 gross per month. Among them, 120,000 pensioners are at the top tier, receiving the maximum pension.
The profession with the highest average pension
Among the top earners are workers from the coal mining sector, who will see their pensions rise to €2,987.54 gross per month across 14 payments. In November, these pensions were €2,911 gross.
Average pensions across key categories
- Retirement pensions will increase by €41 per month, from €1,511.51 to €1,552.32 in 14 payments.
- Pensions for self-employed workers will rise by €27 on average, from €1,013 to €1,040 per month.
- Disability pensions will increase by €32 per month, from €1,211 to €1,243.
- Widow(er)’s pensions will rise by €25 on average, from €937 to €962 per month.
- Orphan’s pensions will increase by €14 per beneficiary, from €527 to €541 per month.
- Family benefit pensions will rise by €21, from €784 to €805 per month.
- The maximum pension will increase by €92, from €3,267.60 to €3,359.60 gross per month in 14 payments.
How long does it take for Social Security to approve a pension?
In September (the latest available data), the average processing time was 10.38 days for retirement pensions and 11.19 days for widow(er)’s pensions. According to Royal Decree 286/2003 (7 March) and Royal Decree 1192/2021 (3 August), the maximum resolution period for both retirement and widow(er)’s pensions is 90 days.
Minimum and non-contributory pensions set to rise
Minimum and non-contributory pensions will also increase from 1 January 2026, by between 7.07 per cent and 11.43 per cent, according to calculations by the Valencian Institute of Economic Research (IVIE), following the 12 December announcement of a 2.7 per cent rise in contributory pensions.
Breakdown of specific increases
The study notes that the ordinary 2.7 per cent revaluation applies to both Social Security and Civil Service pensions. Specific increases include the maximum pension (2.815 per cent, rising to €3,359.60 per month), minimum pensions with dependents (11.43 per cent) and without dependents (7.07 per cent), and non-contributory pensions (11.34 per cent).
Royal Decree-Law 2/2023 guides minimum pension rises
The revaluation of minimum pensions is governed by Royal Decree-Law 2/2023, which applies an additional adjustment based on whether the pension has dependents, helping to reduce the gap with a sufficiency indicator linked to the relative poverty threshold. As a result, minimum pensions without dependents will rise by 7.07 per cent, while those with dependents will increase by 11.43 per cent.
Spain’s pension system under pressure
Spain’s pension system is primarily contributory, meaning that benefits are based on the contributions workers make throughout their careers. It provides retirement, disability, widowhood, orphanhood, and family pensions, and is considered a key part of the country’s social safety net.