Economy

Pensions will decrease in February

The rejection of the omnibus decree proposed by the Government in Congress prevents maintaining the revaluation that was introduced in January

citizens strolling through the center of Arrecife. Pensions.

The rejection this Wednesday by the PP, Junts and Vox of the omnibus decree presented by the Government to Congress has many consequences, including the suspension of the revaluation of pensions by 2.8% in accordance with the increase in the CPI.

It will also prevent the planned 6% increase in minimum contributory pensions and the 9% increase in welfare pensions (non-contributory) and the Minimum Basic Income (IMV).

Thus, the remuneration of 12 million pensioners is frozen. In February, the average pension will be reduced by about 43 euros per month in 14 payments compared to what was received this January. 

Some legal sources indicate that the Government could reverse this situation with a Royal Decree, which does not need validation in Congress.

The Royal Decree-Law that has been rejected also reflected the new amount for the maximum retirement pension and mandated the increase in contributions from 0.7 to 0.8% of the Intergenerational Equity Mechanism (MEI) to fill the Reserve Fund.

The solidarity quota will also not be applied to incomes that exceed the maximum contribution base.