In February 2026, millions of Spanish pensioners will face significant changes in the payment schedule. After an approved 2.7% increase, pension statements show higher amounts, and the country’s largest banks have once again decided to transfer the funds ahead of official dates. This decision affects the plans of many families, as the timely arrival of pensions often determines the monthly budget.
According to El confidencial, January already saw a new average old-age pension of about €1,552. This is €50 more than a year earlier. There are more than 9.4 million pension payments in the country, and each now includes the January increase. For many, these are not just numbers — it’s real support in the face of rising prices and changes in the market.
Payment schedule
By law, pension payments must be credited in 14 equal installments throughout the year. Usually, the funds are deposited during the first working days of each month, but banks traditionally offer convenience by transferring the money in advance. In February 2026, Banco Santander will start payments from the 23rd, Caixabank from February 24, and BBVA, ING, Bankinter, Unicaja, Sabadell, Ibercaja, Abanca, and Caja Rural from February 25. This means most pensioners will receive their money before March begins.
Officially, pensions should be credited between March 1 and 4, as payments are made for the previous month. However, thanks to the banks’ initiative, funds appear in accounts earlier, helping to avoid delays with bill payments and essential purchases. It’s important to note that all sums already include the increase approved by the government for this year.
What has changed
In 2026, pension indexation became one of the most talked-about topics among senior citizens. The 2.7% increase is secured by a special decree, ensuring its continuation even if the economic situation changes. According to El confidencial, this decision was made to protect pensioners’ incomes amid inflation and rising living costs.
February payments will be processed under the new rules, and each bank will notify clients in advance of the exact payment dates. This transparency helps avoid misunderstandings and allows for better financial planning. For many families, this is especially important at the end of winter, when spending on utilities and groceries traditionally rises.
Practical details
Pensioners receiving funds through Banco Santander can expect payments as early as February 23. Caixabank clients will see the deposit the following day, while other major banks will complete transfers by February 25. All sums are increased by 2.7% compared to last year, and this adjustment was already reflected in the January payouts.
Payments are made automatically and no additional applications are required. If the money has not arrived within the specified time, it is advisable to visit your bank branch or call the hotline. It is important to remember that delays are only possible in exceptional cases involving technical problems.
In recent years, such changes to the payment schedule have become routine. For instance, in 2025, banks also transferred pensions in advance, which helped many pensioners avoid financial difficulties at the end of the month. A similar approach was observed in 2024, when pension increases were accompanied by early payments. These measures are becoming standard practice for the country’s largest financial institutions, which has a positive effect on trust levels among senior citizens.
