Contributory pensions will rise by 3.8% in 2024

Contributory pensions will rise by 3.

Contributory pensions will rise by 3.8% in 2024

Contributory pensions will rise by 3.8% in 2024 with the revaluation formula included in the pension reform law in which the twelve-month average interannual CPI is taken into account as a reference to determine the increase in these benefits. (from December of the previous year to November of the current fiscal year).

The National Institute of Statistics (INE) has published this Wednesday the advance data of the CPI for November, with which it is possible to anticipate how much contributory pensions will be revalued in 2024 by taking the average of the previous twelve months, in this case December 2022-November of 2023.

The calculation obtained is 3.76%, a percentage that will be rounded to 3.8%, with which contributory pensions will increase next year by that amount, as confirmed by sources from the Ministry of Inclusion, Social Security and Migration.

In any case, we will have to wait to know the final CPI data for November, which the INE will publish on December 14, to confirm this increase in 2024 pensions, although the final CPI data rarely changes, if at all. tenth.

According to the INE, the year-on-year CPI for November stood at 3.2% according to its initial estimate. The interannual CPI for the twelve months prior to December also marks the path of other measures included in the latest pension reform.


Thus, in 2024 the annual revaluation of the maximum bases and the complement of the gender gap based on the CPI will come into force. In the case of the maximum bases, a fixed amount of 1.2 points will be added to the CPI each year of the period 2024-2050.

This means that, for next year, the maximum contribution base will rise by around 5% (3.8% of the average CPI plus an additional 1.2%), which would place it at around 4,720 euros per month.

Likewise, the pension reform determines that the gender gap complement (30.4 euros in the current year) will rise an additional 10% in the 2024-2025 biennium, which will be distributed between both years as determined by the respective Budget Laws. Generals of the State.