Revaluation of elderly pension for 2022 approved, says Spanish PM Pedro

The proposal of the Spanish government to hike the pensions of the old age persons for 2022 was announced by Prime Minister Pedro Sánchez Pérez-Castejón on January 24, 2022, has approved by the Council of Ministers today.

While sharing the information on his Facebook page, Prime Minister Pedro cited,” To dignify the life of the citizens of the country, the government has taken one more step. Today, January 26, 2022, the Council of Ministers has approved the revaluation of pensions for 2022″.

PM Pedro further asserted that the measure would benefit around 11.5 million of the population of the country.

Earlier, on January 24, 2022, PM has declared the hike in pensions of the people who are above the age of 60 by asserting that this is their responsibility to make the lives of their citizens dignified and respectful.

He also informed that his government is going to invest around €6,500 million in the dignity of elderly pensions between 2021 and 2022.

“With the great step, the elderly pension of contribution will be increased by 2.5 percent, while the minimum and non-tributors pensions for the older persons will face increment of 3 percent,” PM Pedro added.

While providing information about certain recommendations, PM noted,” The revaluation of pension for 2022 will come into effect with the recommendation of the Toledo Pact, which further ensured the purchasing powers of our elders so that they could grow and IPC could be evaluated, this will also include facing cuts, certainty and worthy pensions, added that it is a matter of justice”.

The company of the government of the administration, La Moncloa, also explained the criteria of how the pension in Spain will be hiked through its Facebook post.

It asserted,” The average pension would be hiked by €651 annually in relation to 2021. Moreover, the people beneficiaries of the Vital Minimum Income for 2021 revaluation and a compensatory pay for pensioners has also been approved by the Royal Decree (Spanish council of ministers). So, through the step, the salary would be increased by €250 per person”.

The measure is in effect from January 1, 2021, and the government of Spain has followed the second recommendation of the Toledo Pact, as per