What measures remain to be approved by 2023?
Against all odds, the Minister of Migrations, Social Security and Inclusion, Jose Luis Escrivadoes not give up and intends to carry out the second pension reform. And it is that, everything indicates that the law will be processed by fast track, that is, it will go directly from the Council of Ministers to the Official State Gazette (BOE), which could be generating discomfort among the social agents, that is, skipping consensus with employers and unions. The intention is none other than approve the second leg of the pension reform before January 1, 2023the date on which Spain promised to have the standard ready with Brussels within the framework of its Recovery, Transformation and Resilience Plan.
The revaluation of pensions from 2023
Looking back, the first block of measures, approved in December of last year, was not without controversy, since the revaluation of pensions according to the CPIwhich left behind the sustainability factor approved by the Popular Party of Mariano Rajoy in 2013. In fact, the increase in non-contributory pensions, managed by Imserso, has just been confirmed. will rise 15% from next year. In fact, the Government will guarantee a minimum pension of 484.61 euros, which is now set at 421.40 euros. Therefore, a total of 63.21 euros will rise each month.
Added to all this is the fact that the amounts corresponding to the contributory pensions at least, 8.5% with the intention of combating the high rate of inflation that affects pensioners, especially the lowest pensions, which in October moderated by 7.3%. It should be remembered that during the past summer months it exceeded two figures, a figure that had not occurred in the last thirty years, which directly affects when paying the electricity bill, the price of gasoline or gas . And more now, with the icy cold stalking the Iberian Peninsula.
In any case, to know how much will pensions rise in 2023exactly, we will have to wait until next Tuesday, November 29th, the day on which the INE will release the CPI data for November. From the resulting figure, the estimated forecast will come out of how much they will rise for the next 12 months. With the revaluation of pensions, to calculate it, the CPI figures must be added from December 2021 to November 2022, and then divide the result by 12. However, we must not lose sight of the fact that the final data will be known with accuracy on December 14, when the confirmed CPI is published.
🔹The pensions of people with irregular careers must be improved, which are becoming more and more
🔹3 elements can be adjusted (computation period, exclusion of the worst years and coverage of gaps)
🟢We will discuss it with the social agents to achieve a fairer system pic.twitter.com/CT1yiEmrbj
– José Luis Escrivá (@joseluisescriva) September 12, 2022
News in partial and active retirement
The Minister of Social Security plans to apply changes in partial and active retirementtwo modalities that can help alleviate the financial pressure that Social Security supports today and that will increase in the coming decades with the retirement of the ‘baby boomers’, a generation marked by the high birth rate of the born between 1946 and 1964.
Increase in contribution bases for high incomes
This second phase of the pension reform is carried out, to a large extent, by the highest incomes. The increase in maximum contribution bases so that higher salaries contribute more to Social Security, which entails the progressive increase in maximum pensions, raised by José Luis Escrivá, which could reach 3,000 euros per month for the first time in history. At this time, the maximum contribution base stands at 4,139.40 euros, so all those who earn more than this figure contribute equally to Social Security. With the elimination of this cap “gradually, the collection in terms of social contributions will increase,” Escrivá said. In addition, “it will increase the system’s income in the 1930s and 1940s, which is where the system will suffer.”
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