Following the release of the National Statistics Institute's (INE) estimate that the average inflation over the last 12 months, excluding housing, for November was 5%, the government has announced that pensions will rise.

In this regard, pensions up to 1018 euros will see an increase of 6 percent. Pensions between 1018 and 3055 euros will increase by 5.65 percent. On the other hand, pensions of over 3055 euros will see an increase of 5 percent.

More benefits to rise

There are more benefits that will rise, which is the case of the social benefit for inclusion, dependency supplements and death benefits, limits on the family benefits brackets and limits (minimum and maximum) for unemployment benefit," they said.

According to the government, the reference value for the Solidarity Supplement for the Elderly (CSI) and the Social Benefit Supplement for Inclusion (PSI) will increase from 5,858.63 to 6,608.00 euros per year and the Social Insertion Income (RSI) from 209.11 to 237.25 euros per month.

In addition, the family benefit will be increased by 22 euros compared to 2023 and "by at least 33 euros in single-parent families, where it will be increased by 50 percent in all brackets". These increases are set out in ordinances, which are awaiting publication and come into force on 1 January 2024.