In March, Spanish retirees will get their pensions following the rise that was agreed upon by the government and Junts in the second omnibus decree. Under the CPI, this proportional pension rise will benefit over 10 million pensioners. The new pension revaluation for this year is set at 2.8% for contributing pensions and 6% for the system’s basic pensions, except for those with dependent spouses, who are set at 9.1%. Non-contributory pensions and the Minimum Vital Income (IMV) have also increased by 9%.
These are the dates and the increase in pensions this month
According to information from the specialized portal HelpMyCash, the collection dates by bank are listed below:
- CaixaBank: March 24
- Santander: March 24
- BBVA: March 25
- ING: March 25
- Abanca: March 25
- EVO Banco: March 27
- Bankinter: March 21
- Sabadell: March 25
- Unicaja: March 24
- Laboral Kutxa: March 25
- Ibercaja: March 25
How much will pensions increase this year?
Based on data from Social Security, individuals with average retirement pensions get an annual increase of 600 euros, while those with “average” pensions receive an annual increase of 500 euros. Therefore, in 2025, a pensioner who currently receives 1,441 euros per month will receive 1,481.35 euros, a 564.87 euro gain annually. It is important to note that an economic benefit of indefinite duration, whose payment is contingent upon a formal arrangement with Social Security, is known as a contributing pension.
In this regard, it is required to have previously been a member of Social Security and to provide evidence of a minimum amount of time spent contributing. Non-contributory pensions, on the other hand, are paid to retired or handicapped individuals who have not made any contributions to Social Security or who have not accrued the requisite minimum number of years. Despite slower aging, Spain spends more on pensions than the eurozone.
Social Security will lower the minimum retirement pensions for these incomes
A monetary benefit known as the minimum supplement is provided to the contributory pension to bring it up to the legally required minimum. Nevertheless, there are several restrictions on this benefit. The amount that a pensioner receives each month may be reduced if they are above the income level, which can be withdrawn by the National Social Security Institute (INSS). This supplement is given to over two million retirees in Spain, of whom 1.2 million get retirement benefits. The supplement’s average monthly value for 2025 is 308.86 euros, which enables low-income pension recipients to meet the minimal requirements. Moreover, this allowance is evaluated yearly based on disclosed income and is not consolidable.
The reduction happens when the beneficiary’s pension is increased by more than the amount specified in the General State Budget. According to the legislation, these supplements are intended to ensure a minimum level of income; therefore, they stop being paid if the retiree receives more money than is permitted from labor, capital, economic activity, or capital gains. Since Social Security is reviewed every year and will be eliminated in the fiscal year in which the permissible income is exceeded, the pensioner in these situations is required to notify the agency. Any other source of income is taken into account in this calculation, but the pension itself is not.
What needs to happen to keep the minimal supplement?
Three primary requirements must be fulfilled by the pensioner to continue getting this aid. The acknowledged contributed pension must, first and foremost, be below the existing legal minimum. Second, unless an international agreement specifies an exception, the individual must regularly reside in Spain. In conclusion, the pensioner’s yearly income cannot surpass 9,193 euros if they do not have a dependent spouse or 10,723 euros if they do. The minimal supplement is taken away, lowering the pensioner’s monthly payment if he doesn’t meet any of these conditions. It can be recovered in later years if the pensioner once more satisfies the requirements because the evaluation is done annually.
