This will be the revaluation, the minimum and maximum payments, and how it is calculated

In November, two good news come together for pensioners in Spain. On the one hand, the payment of extra pay, which usually arrives at the end of this month; On the other hand, the publication of the pension revaluation forecasts. Every autumn, retirees carefully follow the evolution of the Consumer Price Index (CPI), aware that its update is necessary to maintain their purchasing power looking ahead to next year.

Since the approval of Law 21/2021, Spain consolidated a automatic revaluation system which links the annual increase in pensions to the average interannual CPI. The change responded to the recommendations of the Toledo Pact which sought to protect pensioners against losses resulting from inflation. Thanks to this formula, pensions have been adjusted by 8.5% in 2023, 3.8% in 2024 and 2.8% in 2025.

How is pension revaluation calculated?

The calculation used to determine how much pensions will rise in 2026 takes into account the average variation of the CPI registered between December of the previous year and November of the current year. That is, the monthly values ​​of the index are added from December 2024 until now and an average is obtained. Only when the National Institute of Statistics (INE) publishes the final data can the final figure be closed.

The estimates agree place the increase at around 2.6%. This percentage could vary by a few tenths, but it serves as a reference to anticipate how the different benefits will be. From this figure, it can be done an approximate projection of maximum, average and also minimum pensions, although the latter have specific rules.

How much are the maximum and minimum pensions?

If the 2.6% calculation is finally confirmed, The maximum benefit would reach 3,355 euros per month in 2026. The system’s average pension, which in October 2025 amounted to 1,430.53 euros, would increase to approximately 1,467.72 euros. In the case of the average retirement pension, situated at 1,668.69 euros, the increase would leave it at approximately 1,712.07 euros.

Minimum pensions, non-contributory pensions and the Minimum Living Income (IMV) are also revalued, although with particularities. Minimum retirement pensions increased by 6% in 2025, while contributory and IMV increased by 9.1%, as part of the convergence process with different poverty thresholds.

By 2026, retirement pensions for people over 65 with a dependent spouse must reduce 50% of the gap with respect to the poverty line of a household made up of two adults. The minimum widowhood rates will continue to increase to progressively equate to those for retirement.