The Government approved on March 16 the second part of the pension reform, which includes increases in maximum bases and contributions, the establishment of a dual model to calculate the pension and improvements in minimum pensions. Specifically, the latest draft of the royal decree-law to which EL MUNDO has had access contemplates a 22% increase in minimum contributory pensions. This is a modification of the decree so that these pensions are increased above inflation, thus guaranteeing their adequacy.
Taking the evolution of the minimum pension with a dependent spouse as a reference, the minimum contributory pensions will gradually rise between 2024 and 2027 to ensure that, from 2027, they are not below the poverty threshold calculated for a household made up of two adults .
As reported by this newspaper, the modification with respect to the initial text stipulates that the minimum contributory retirement pensions for people over 65 years of age with a dependent spouse may not be less than, from the year 2027, the equivalent of around 14,300 euros today.
It should be remembered that the minimum retirement pension for the financial year 2023, after the revaluation of 8.5%, a percentage of the average inflation of the previous year, amounts to 10,963 euros per year (783 euros per month in 14 payments) for pensioners over 65 years without a dependent spouse and 13,527 euros (996 euros per month), if there is a dependent spouse.
With the second part of the pension reform approved, the minimum contributory pension with a dependent spouse will go from the current 966 euros per month to 1,178.50 euros in 2027 (16,500 euros per year in 14 payments). This is so because the reform establishes that the minimum contributory pension with a dependent spouse must reach 60% of the median income of a household of two adults.
For its part, the minimum non-contributory pension must be set at 75% of the individual poverty threshold, which in 2027 would be about 8,300 euros per year or about 592 euros per month, compared to the current 457.30. To determine the poverty threshold, according to the text, the threshold corresponding to a single-person household will be multiplied by 1.5, updated up to the corresponding year.
This second phase of the pension reform has been agreed by the Government and unions (CCOO and UGT) to guarantee the system coinciding with the retirement of the 'baby boomers' in the 2030s and 2040s.
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