From this Tuesday the Minimum Interprofessional Wage (SMI) in Spain is 1,080 euros per month and 14 payments.
This was approved by the last Council of Ministers after an agreement between the Government and the main unions.
This SMI improvement will be applied to workers' payrolls already in the month of February, but it is retroactive as of January 1, 2023.
Employees with contracts linked to the SMI will receive the corresponding part of the month of January, up to around 80 euros, throughout this month or in the first days of March.
The companies to formalize this January SMI payroll can choose to incorporate it into the February payroll, which also includes the update of the new SMI, or generate a second payroll with the improvement that corresponds to the worker for the first month of the year. .
With this update of the SMI, workers outside the agreement will receive 15,120 euros of gross salary this year. This amount represents an 8% increase in the SMI compared to the previous year.
With this increase in 2023, the SMI accumulates a total increase of 46.7% since 2018, since then it stood at 735.90 euros.
In 2019 it rose to 900 euros (22.3%), in 2020 it went to 950 euros (5.5%), in 2021 it was left frozen due to the pandemic situation until it rose to 965 euros in September (1, 6%) and in 2022 it rose to 1,000 euros from January (3.6%).
The improvement of the SMI will benefit workers without an agreement in sectors such as hospitality or agriculture. In addition, domestic workers and also employees of SMEs.
Mainly, these workers have a profile with ages from 16 to 34 and the majority are women. In total, this SMI measure is estimated to benefit 2.5 million workers.
With the increase in the SMI up to 1,080 euros per month, salaries will be as follows:
The increase in the SMI will also benefit future pensioners. With the increase in the SMI to 1,080 euros per month, the worker's contribution bases are automatically increased.
Hence, at the time of retirement, the final pension will be of a greater amount than that provided to date by Social Security with the previous SMI.
It should be noted that with the rise in the SMI, widowhood and disability pensions will also be improved, since they are also calculated based on the regulatory base.
According to the criteria of The Trust Project
