The maximum pension in Spain is now 2,819 euros per month
The sharp increase in prices is affecting consumers, however, pensioners in Spain are the only ones, who for now, will not lose purchasing power, or will do so to a lesser extent, as last year’s reform linked them to inflation.
With the 2.5% rise in contributory pensions, the minimum pensions in this modality will increase by approximately between 10 and 59 euros per month, depending on the type of pension and personal circumstances.
Specifically, the amount of the minimum contributory pension for retirees aged 65 with a dependent spouse, will remain at 890.50 euros per month in 14 payments (compared to 851 euros per month in 2021); with those for someone without a spouse (single-person economic unit) at 721.70 euros (689.70 euros previously); and for someone with a non-dependent spouse at 685 euros per month (compared to 654.60 euros in 2021).
For retirees under 65 years of age, the minimum contributory pension with a dependent spouse is set at 834.90 euros per month for 2022 (797.90 euros in 2021); without a spouse at 675.20 euros per month (645.30 euros previously); and with a non-dependent spouse at 638.20 euros per month (609.90 euros in 2021).
For its part, the maximum retirement pension stands at 2,819.19 euros per month for fourteen payments from January 1st 2022, compared to 2,750.42 euros per month in 2021.
Who can collect the maximum pension?
- It will be necessary to have contributed for a minimum of 15 years, two of which must be immediately prior to retirement. However, with this contribution period, you can only access 50% of the pension.
- In order to access 100%, it will be necessary to contribute a total of 37 years and 6 months or more to retire at 65, or less than 37 years and 6 months of contributions to retire at 66.
- Accessing 100% of the pension does not imply that this is the maximum possible. To do this, it will be necessary to have a high contribution base during the last 25 years prior to retirement.
From 2022, the last 25 years of contributions will be taken into account for the purpose of calculating the retirement pension. Specifically, the contribution bases of the last 300 months will be valued, the sum of which will be divided by 350 (number of months plus extra payments of the last 25 years).
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