The sharp increase in pensions in 2026 has become one of the most talked-about decisions in recent months. For millions of Spaniards, this means not only higher monthly payments but also new rules that will affect almost every family. The question of how pensioners’ financial situation will change took center stage after the corresponding decree was published in the Boletín Oficial del Estado (BOE).
Immediately after approval at the Council of Ministers meeting, the new indexation scheme came into effect. Unlike in previous years, when pension increases were introduced alongside other social initiatives, this time the authorities decided to address pensions separately from the rest of the ‘social shield.’ This move helped avoid political battles and speed up the decision-making process. As a result, pensioners will see the updated amounts in their bank statements as early as February.
Political nuances
Previously, attempts to combine pension indexation with other social support measures sparked fierce debates in parliament. Opposition parties, particularly right-wing representatives, spoke out against merging the pension increase and the extension of the eviction moratorium for vulnerable families into a single document. However, when the issue was addressed separately, even critics agreed to support the initiative, which helped avoid lengthy debates and delays.
A vote to approve the new scheme is expected in the coming days, but it is already clear: the indexation has come into effect automatically, and pensioners will not face any delays. Other social measures will be considered separately, so as not to interfere with the implementation of the key decision on pensions.
Financial changes
According to the new decree, all state pensions, including old-age and disability benefits, are being increased by 2.7%. For the average pensioner, this means an increase of about 570 euros per year. The maximum pension is now 3,359.6 euros per month, while the average old-age pension stands at 1,317.7 euros. The basic maximum amount for calculating contributions has also risen by 3.9% compared to last year.
Special attention has been given to minimum pensions: they are increasing by 7.07%, and for those with dependents or widow(er)s with children, the rise will be 11.4%. This also applies to non-contributory pensions as well as the minimum income (Ingreso Mínimo Vital, IMV). Now, the minimum pension for individuals over 65 years old is 13,106.8 euros per year for single pensioners and 17,592.4 euros for families with dependents. The income threshold for receiving minimum payments has also been revised.
Social impact
Other categories were also affected: old-age and disability pensions (SOVI) increased by 7.07%, and benefits for children with disabilities have risen by 2.7%. For families raising children with severe disabilities, this means significant support — payments now reach 8,942.4 euros per year.
At the same time, starting tomorrow, an extension of the eviction moratorium for vulnerable families comes into effect, provided the landlord is a large property owner or investment fund. This measure will remain in place until the end of the year and is accompanied by additional initiatives in housing, energy, employment, and taxation. However, unlike pensions, these issues will be considered separately to avoid delaying the indexation process.
Context and trends
In recent years, Spain has repeatedly faced the need to adjust pension payments due to inflation and the rising cost of living. In 2025, a similar indexation was blocked by parliament, sparking discontent among the elderly. At that time, the government made concessions by separating social initiatives and fast-tracking certain decisions. This approach was already applied in 2023 and 2024, when pension indexation also came amid political disputes and the need for compromise.
Each year, the issue of the financial sustainability of the pension system becomes increasingly pressing. Experts note that such measures help temporarily stabilize the situation, but further reforms are needed. Other EU countries are also seeing trends toward higher social payments, though the pace and mechanisms differ. In Spain, however, every new decision in this area sparks wide public debate and draws close attention from both pensioners and politicians.
