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Pension revaluation


In accordance with Law 3/2017, of 27 June, on the General State Budgets for 2017, Social Security system pensions  for 2017 have been increased by  0.25%, including the maximum that can be received as a state pension.

Likewise, there has been a 0.25% increase in the minimum amount of Social Security system contributory pensions, non-contributory pensions and non-concurrent pensions of the now obsolete SOVI.

The amount of benefit paid for disabled children aged 18 or over has also been updated.

Amount of the revaluation:

  1. Contributory pensions within the Social Security system for permanent disability, retirement, widowhood, orphans and for family members which came into effect before 1 January 2017 and are not issued concurrently with other pensions, will increase in value by 0.25%.
  2. With the increase, the total pension shall be limited to a sum of 2,573.70 euros with this amount understood to be the sum for an ordinary month, without prejudice to any special payments that may apply. This monthly limit will be adjusted depending on whether the recipient has the right to receive 14 payments per year, including extraordinary payments, for which purpose the total amount shall not exceed but may reach 36,031.80 euros per year.
  3. Pensions that exceed 2,573.70 euros per month shall not be subject to revision, apart from those indicated in section 2.
  4. Pensions for severe disability shall be revised applying the rules provided for in section 1, separately from the pension and supplement. In accordance with the maximum limit set in section 2, the pension shall be calculated without the supplement.

Revaluations of concurrent Social Security system pensions, or those paid alongside other state pensions, shall be subject to the provisions of the single article of Royal Decree 746/2016, of 30 December.

Applying the increase:

The increase shall be applied to the monthly sum of the pension, as it stood at 31 December 2016, excluding the items listed below:

  1. Supplements for reaching the previously established minimum.
  2. Charges due to a lack of safety and hygiene measures in the workplace.
  3. Temporary annuity for caring for family members and supplementary allowances for the provision and renewal of prostheses and surgical aids, in the case of pensions relating to the now obsolete work-related injury and occupational disease insurance.

SOVI Pensions:

  1. The revision of pensions relating to the now obsolete SOVI which are not paid concurrently with other state pensions, whatever the date of the causal event, will consist of the difference between the total sum of the pension on 31 December 2016 and the annual sum of 5,713.40 euros.

    For the purposes of the provisions of the previous paragraph, economic benefits awarded under Law 3/2005 of 18 March to citizens of Spanish origin who moved abroad as minors as a result of the Spanish Civil War and who have spent most of their life outside Spain, pensions received by those who were injured during the Spanish Civil War, whatever the applicable legislation, special pensions resulting from acts of terrorism, and the third person assistance allowance, referred to in the single temporary provision of the consolidated text of the General Law on the rights of people with disabilities and their social inclusion, are not considered concurrent pensions.

    When insurance periods or residency periods that were completed in other countries with links to Spain through international Social Security regulations that provide for the inclusion of said sums have been factored into pensions under the now obsolete SOVI, the amount of the pro rata pension paid by Spain shall be no less than 2,856.70 euros per year.

    This same guarantee shall apply to the recipients of pensions other than those of the now obsolete Compulsory Elderly and Disability Insurance who choose to receive one of these pensions, provided that, on the date of the event resulting in their eligibility for the pension they are to receive, they met all the requirements of said insurance.
  2. The revision described in the previous section is non-consolidable.

With regard to the revision of pensions from the now obsolete SOVI which are paid concurrently with other pensions, these will be covered by the provisions of the single article of R.D. 746/2016, of 30 December.

                              



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