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Pension revaluation

Pursuant to the provisions of Royal Decree 1058/2022 of 27 December on the revaluation of Social Security system pensions, pensions of the Pensioners' Pension Scheme and other public social benefits for 2023, a revaluation of Social Security system pensions for 2023 of 8.5 per cent is established, including the maximum limit for the receipt of public pensions.

The amounts of the minimum pensions of the Social Security and Pensioners' Pension systems, of non-contributory pensions and of the extinct not concurrent Compulsory Elderly and Disability Insurance (SOVI), as well as the pensions of the SOVI concurrent with widowhood pensions of any of the schemes of the Social Security system, of the Social Security benefits for dependent children aged eighteen or over and with a degree of disability greater than or equal to 65 per cent and of the mobility allowance and compensation for transport expenses will be increased in 2023 by 8.5 per cent over the minimum pension amounts for 2022.

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, approved by Royal Legislative Decree 8/2015 of 30 October and recognised during 2022, will experience an increase in 2023 equal to that approved for the minimum professional wage for that year, and the revaluation provided for in the previous paragraph will not be applicable.

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 2023 and are not issued concurrently with other pensions, will increase in value by 8.5 per cent.

  2. With the increase, the total pension shall be limited to a sum of 3,058.81 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 42,823.34 euros per year.

  3. Pensions that exceed 3,058.81 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 1058/2022 of 27 December.

Applying the increase:

The increase shall be applied to the monthly sum of the pension, as it stood at 31 December 2022, 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 2022 and the annual sum of 7,021.00 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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