The law 21/2021, December 28, introduces an important modification in the consolidated text of the General Law of Social Security, as it guarantees the maintenance of the purchasing power of contributory pensions, while previously a revaluation percentage was set at a given time without following an objective public criterion.
With this new measure, Social Security pensions, in their contributory form, including the amount of the minimum pension, will be revalued at the beginning of each year in the percentage equivalent to the average value of the interannual variation rates expressed as a percentage of the Consumer Price Index for the twelve months prior to December of the previous year, that is, from December of two years prior to the update until November of the previous year. If by chance this average value is negative, the amount of the pensions will not be modified, maintaining the same amount.
The General State Budget Law for the year 2022 establishes the update criteria for said exercise, but did not set the exact percentage of revaluation on the amount they had as of December 31, 2021.
The final amounts of the pensions for 2022 can be found in the Royal Decree 65/2022, of January 25, and went upgraded to a 2.5%, equivalent to the average value of the CPI variation rates for the months from December 2020 to November 2021, so We will see below how these pensions look for the year 2022:
How are pensions in 2022?
- Minimum pensions:
- Minimum supplement:
Pensioners whose pension does not reach the amounts established for each case as the minimum amount, may receive a supplement until said amount is reached, as long as their income of any type is less than €7,939.00 per year, or if they are higher, they are lower than the sum of this limit plus the annual amount of the minimum pension in question, recognizing the supplement for the difference.
- Maximum pensions:
The maximum pension amount is €2,819.18 per month plus extra payments.
- Non-contributory pensions:
Non-contributory pensions have also been subject to revaluation and will increase by 3% compared to those established in 2021, leaving his annual amount set at €5,808.60.
Also, the complement existing for this type of pensions due to the fact of not owning a home and having rented a habitual home, is set at €525.00 annually.
By way of illustration, a person beneficiary of the contributory retirement pension, who in 2021 received an amount of €1,500.00 per month, would have their pension revalued in 2022 by 2.5%, receiving a total of €1,537.50 per month. .
Likewise, a beneficiary of the contributory retirement pension, without family responsibilities, whose amount in 2021 was less than the minimum, for example, €550.00 per month, would be revalued in 2022 to €563.75. Once updated, as it is less than the minimum retirement pension, if your income is less than the limit of €7,939.00 per year, the benefit would be complemented until reaching €685.00 corresponding to the minimum retirement pension for people over 65 years of age. with non-dependent spouse.
