With an inflation rate that adds up to 5.8% in the month of January, and a minimum pension, with a dependent spouse, which after the revaluation of 8.5% for this year, only adds up to 966.20 euros per month It seems complicated that an average retiree can make ends meet in our country or, in other words, not lose purchasing power. Also, in the event that you do not have a spouse, you will reach 743.30 euros. And all this taking into account that only a few days ago the Government of Spain, at a request from the Ministry of Labor and Social Economy, led one day by Yolanda Díaz, approved the new Minimum Wage of 1,080 gross euros per month, distributed in 14 annual payments.
To all this we must add that the economic amounts mentioned at the beginning belong to the table of contributory pensions, that is, those managed by Social Security. And it is that, in the case of non-contributory retirement and disability pensions, after the revaluation of 15%, as was done with the Minimum Vital Income, it is 402.80 euros per month or, what is the same, of 5,639.20 euros per year. However, despite the increase in the SMI retroactively from January 1, with the previous Minimum Salary of 1,000 euros gross, the thousand euros was not reached either.
How can I increase my retirement pension?
In any case, one of the ways to increase the contributory pension, for those retirees who have carried out this procedure as of February 4, 2021, is to request the supplement to reduce the gender gap, promoted by Minister José Luis Escrivá , whose objective is to reduce economic inequality between retirees, marked by the impact of upbringing on the professional career of women.
It replaces the maternity supplement and, as a novelty, it can be requested by both women and men who have had one or more sons or daughters, except in the case of partial retirement, permanent disability or widowhood. Also, good news, and that is that, today, this supplement reaches 2 out of every 3 new pensions, which results in 64% more approvals than in 2022. The truth is that despite the fact that we live In an era that records historical data on the incorporation of women into the labor market, especially after the 1970s, they are the ones who continue to assume most of the burden of child-rearing tasks.
On the other hand, with regard to the economic contribution, said amount is set in the corresponding General State Budgets each year. In the year 2023, the amount is 30.40 euros per month for each son or daughter, with a limit of four children or more. That is, in total, in the event that you have four children, you can add a total of 121.60 euros per month per month. If you are a man, you must meet specific requirements that are detailed on the Social Security website.
At what age do I retire so that I do not penalize my pension?
Another point to take into account when retiring from the job market, especially if you are interested in voluntarily retiring early, has to do with the pension reduction coefficients applied by the Security in 2o23. Yes, the difference between retiring at 63 or 64 can mean a significant reduction in future social benefits. However, to collect the full pension, you must have reached the age of 65 and have contributed for a minimum of 15 years, and that two of them have occurred before accessing retirement.
In any case, to collect the full pension, you must have reached the age of 65 and have contributed for a minimum of 15 years, and two of them have occurred in the last 15 years before accessing retirement. In any case, the employee must have contributed for a minimum period of 37 years and 9 months or more. In another case, the age to be able to retire and collect the full pension increases to 66 years and 4 months, but it will reach 67 years in 2027.