Spain to raise regular public pensions by 2.5% this year

Overall, the pension increase will cost some 6.5 billion euros

Overall, the pension increase will cost some 6.5 billion euros. | R.E.

ReutersPalma25/01/2022 14:09

Spain will raise most public pensions by 2.5% in 2022, boosting the average pensioner's income by around 250 euros a year Social Security Minister Jose Luis Escriva said on Tuesday after a cabinet meeting where the increase was approved.

The lowest public pensions will increase by 3%, he added, while inflation reached 6.5% in 2021. Overall, the pension increase will cost some 6.5 billion euros.