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Pension revaluation

In accordance with the clarifications contained in Royal Decree-Law 8/2023, of 27 December, adopting measures to address the economic and social consequences of the conflicts in Ukraine and the Middle East, as well as to mitigate the effects of the drought, it is established that until the General State Budget Law for 2024 is approved, the content of Title IV and the related additional provisions of Law 31/2022, of 23 December, on the General State Budget for 2023, as well as its implementing provisions remain in force in 2024, with the modifications and exceptions set out below:

The pensions paid by the Social Security system, in its contributory form, as well as the ordinary and extraordinary pensions of the Special Regime of State Civil Servants will be generally revalued in 2024 by 3.8 percent with respect to the amount they had on 31 December 2023.

The orphan's benefits caused by violence against women, provided for in the third paragraph of article 224.1 of the revised text of the General Law on Social Security will experience in 2024 an increase equal to that approved for the Minimum Professional Wage for that year.

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 01 January 2024 and are not issued concurrently with other pensions, will increase in value by 3.8 per cent.

  2. With the increase, the total pension shall be limited to a sum of 3,175.04 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 44,450.56 euros per year.

  3. Pensions that exceed 3,175.04 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 in Royal Decree 8/2023 of 27 December.

Applying the increase:

The increase shall be applied to the monthly sum of the pension, as it stood at 31 December 2023, 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 2023 and the annual sum of 7,399.00 euros.

For the purposes of the provisions of the preceding paragraph, the economic benefit recognised under Law 3/2005 of 18 March and the pension received by those maimed or disabled to the first degree as a result of the Spanish Civil War, whatever the regulatory legislation, and the allowance for assistance from a third person provided for in the revised text of the General Law on the Rights of Persons with Disabilities and their Social Inclusion, approved by Royal Legislative Decree 1/2013 of 29 November and the extraordinary pensions resulting from acts of terrorism shall not be 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 3,510.50 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.

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