The revaluation of pensions in 2023 was approved by RD 1058/2022, dated December 27. This law proceeds to the development and execution of the provisions contained in the PGE of 2023, Law 31/2022, regarding the revaluation of the pensions of the Social Security system. Both of the pensions of the Passive Classes and of other public social benefits.
A general revaluation of pensions and other benefits paid by the Social Security system, as well as those of State Pensioners, of 8.5% is established.
Pensions revaluation in 2023
The aforementioned increase is also fixed for the minimum pension amounts of the Social Security System, not only in its contributory modality. It will also be applied to non-concurrent pensions of the extinct Compulsory Old Age and Disability Insurance (SOVI) and of the pensions of the Passive Classes.
Likewise, the same percentage increase will be applied to the amounts of the limits for receiving public pensions, the amounts of the regulatory assets applicable for the initial determination of the pensions of the State Pension System and of the special war pensions.
Therefore, for the year 2023, the amount of the maximum limit for receiving public pensions is set at the following amounts: €3,058.81 per month or €42,823.34 per year.
Minimum amounts of pensions in contributory mode 2023
Let’s see what the minimum amounts are in the case of retirement, disability or widowhood.
Minimum amounts of the pensions of Passive Classes for the year 2023
(*) In the event that there are several beneficiaries. The amount of the individual pension will be the result of dividing said amount by the number of beneficiaries.
Other pensions and public benefits for the year 2023
First, pensions from the extinct Compulsory Old Age and Disability Insurance (SOVI):
- Non-concurrent SOVI pensions: 7,021.00 per year.
- Concurrent SOVI pensions: 6,815.20 per year.
Secondly, non-contributory Social Security pensions: 6,402.20 euros/year. 6,402.20/year. There is a supplement for homelessness of €525.00/year.
And finally, the mobility allowance and compensation for transportation expenses is set at €78.20/month. And, if applicable, a pension supplement for housing rental: €525/year.