The Government approves the revaluation of more than 11.1 million public pensions

In 2019, pensioners gained almost 1 percentage point of purchasing power; 2.3% in the case of those who receive minimum

The increase will be applied to the February payroll, which will include the arrears for the month of January.

The Council of Ministers has approved, at the proposal of the Minister of Inclusion, Social Security and Migration, José Luis Escrivá, a Royal Decree-Law by which more than 11.1 million public pensions are revalued by 0.9%, with the effects of the January 1, 2020. This increase applies to contributory and non-contributory pensions, as well as those of State Passive Classes.

The standard approved today also incorporates the guarantee of maintaining the purchasing power of pensions during 2020 in the event that the reference CPI deviates above 0.9%.

The revaluation of pensions benefits 9,801,016 contributory pensions and more than 655,000 passive classes (November data). In addition, 451,156 non-contributory pensions and 195,000 dependent children with disabilities greater than or equal to 65% will see their pensions increased. The annual cost of the measure is 1,406 million euros, which is distributed as follows:

After the revaluation, the most common of the minimum pensions, the retirement pension for those over 65 years of age, with a dependent spouse, reaches 843.40 euros per month, distributed in 14 payments (11,807.60 annually).

The standard ensures the guarantee of maintenance of purchasing power during 2020 in the event that the reference CPI exceeds 0.9%

In addition, the maximum pension for 2020 is 2,683.34 euros per month, 37,566.76 euros annually.

As for the pension from the extinct Mandatory Old-Age and Disability Insurance (SOVI), it reaches 437.7 euros per month after the revaluation, in the case of non-concurrent pensions (6,127.80 euros/year).

In the case of non-contributory ones, the figure for 2020 is set at 395.6 euros per month (5,538.40 euros per year).

On the other hand, it should be noted that the arrears corresponding to the month of January will be included in the February payroll, since it has been necessary to develop a specific computer application for the payment of the revaluation corresponding to the month of January.

More purchasing power in 2019

Last year, pensioners gained purchasing power for the first time in recent years. The revaluation was 1.7% in general and 3% for minimum pensions.

According to data published by the National Institute of Statistics, the advance CPI for December 2019 was 0.8% year-on-year, which represents a gain in purchasing power that reaches 2.3 percentage points, in the case of the minimum and near of 1 percentage point for the rest (0.9%).