Minimum pensions will also rise by only 0.9%

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Now yes, Pedro Sánchez, already president with full functions, could not disappoint and the first measure of the new Government has been to fulfill a commitment announced and that had been postponed: raise pensions by 0.9%, in this case all, without that there is a greater increase for the lowest, despite the fact that in the agreement signed with United We agreed to “increase” their purchasing power. In any case it will be later -from the Ministry of Labor they argue that there is no provision for this since the 2018 Budgets are maintained-, just as it will have to wait for the rise of the Minimum Interprofessional Salary (SMI) and the increase for the most 2.5 million officials, two other economic measures that should already be applied but are paralyzed in the absence of a government with full capacity.

“Step by step,” the chief executive repeated several times during his appearance after the meeting of the Council of Ministers, who justified that “we have 1,400 days” to launch “the proposals announced but said there will be” many good news ». He also gave no clues as to when the new public accounts will be presented (“in the coming weeks we will give you information on this,” he said) but he did point out that they will begin “as soon as possible” a negotiation with the European Commission to set new budget stability goals because “Economic circumstances have changed from a few months ago to now.”

Therefore, a single economic measure for the first Council of Ministers of the legislature: the increase of the more than 11.1 million public pensions of 0.9%, depending on the inflation forecast for this year, which is almost half of that 1.6% that were boosted in 2018 and 2019. For the first time in the last two years the lowest benefits, that is, the minimum and non-contributory benefits, will have the same increase: only 0.9% , less than a third of that 3% that rose the last two years thanks to the agreement reached between the previous Executive of the PP and the PNV. Of course, the rule includes the commitment that if the CPI is higher than that 0.9%, before April 1, the pensioners will receive the difference in a single payment, as it happened last year. In the same way, it will be retroactive, so that on the payroll of February the elderly will get the arrears of January.

Nine euros more than average

With this new increase, the average pension of the system rises 8.9 euros per month, so that for the first time in history the payroll of the more than 8.8 million beneficiaries will exceed 1,000 euros (specifically, 1,004 euros) , according to the data of the last December statistic. Greater will be the increase that have more than six million retirees: 10.2 euros more each month, so that your average pension will exceed 1,050 euros (1,153 euros). Meanwhile, 2.3 million widows (in women because they are the vast majority) will have to settle for an increase of 6.4 euros to exceed 721 euros. It should be noted that this extra is much lower than the increase they experienced last year, when their payroll increased on average 33 euros per month as a result of the fact that the regulatory base used to calculate their pension increased from 56% to 60%. On the other hand, the almost one million beneficiaries of permanent disability pensions will have 8,8 euros more monthly, with which their income will be at 987 euros.

The coalition starts with its first Council of Ministers

The cost of this 0.9% revaluation for Social Security coffers will be 1,404 million euros, since the general increase will entail an expense of 1,263 million, to which another 141 million will be added for passive classes .

0.25% end

This new increase takes place after the Government Council approved the suspension of the Pension Revaluation Index (IRP) at the last Council of Ministers of the year, the adjustment mechanism introduced by Mariano Rajoy in its 2012 reform and which led to retirees at a minimum rise of 0.25% while the Social Security accounts were in red numbers. In this regard, the new Minister of Social Security, José Luis Escrivá, pledged yesterday during his inauguration to re-link benefits with the IPC and to close “quickly and efficiently” the deficit that has dragged the system since 2012.

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