The new year arrives and with it some important changes in economic matters. If the year 2023 was the year in which pensions rose up to 8.5% and the self-employed began to pay their Social Security contributions based on their income, This 2024 they also come into force several important changes that affect a good part of Spanish citizens.
The first of the changes that arrive in 2024 is increasing the retirement age: As all taxpayers know, since the first reform of the pension system was approved in 2011, every year both the minimum age to retire and the number of months of contributions necessary to do so have increased.
Thus, from 2024 the retirement age becomes 66 years and 6 months for those who have contributed less than 38 years of age and 65 for those who have contributed more than 38 years: both figures increase by two months compared to last 2023.
Another of the important changes that is going to affect pensioners and future pensioners It is early retirement: anyone who wants to retire from work on their own, before the legal age, may do so from the age of 63 if they have more than 38 years of contributions; or from 64 years and 6 months if he is less than this.
According to the involuntary early retirement, Taxpayers who are over 62 years and 6 months old and less than 38 years of contributions may benefit from it, or those over 61 if they are 38 years old or older. more contributed to Social Security.
Gift of 138 euros from the Treasury to pensioners
But without any doubt The most anticipated change in 2024 is the increase in pensions. As happened in 2023, this 2024 the Government has approved an update of public pensions to the Consumer Price Index registered during the last year: an effective way to protect the purchasing power of pensioners and with it the internal consumption of the country.
On this occasion, the increase in contributory pensions will rise to 3.8% while minimum retirement pensions will rise between un 5% and 7%. Regarding non-contributory pensions, they will rise by 6.9%.
Some of the most benefited pensioners They are those who enjoy a supplement, specifically, the gender gap supplement: a ‘gift’ from the Treasury to pensioners who have seen their professional careers harmed by dedicating themselves to caring, especially those of their children.
An extraordinary increase in the gender gap supplement has been approved in 2024: 10% in 2024 to which another 10% increase will be added in €2025 and which would ultimately have an impact on monthly salary increase of €34.71 per child (in 2023 this amount was €30.40 per child per month).
In the case of people who have four or more children, the monthly increase that the Government has approved It will be €138.84 for those who are entitled to this supplement to compensate for the gender gap: a figure that just a few months ago was €131.60.
According to forecasts, pensioners will begin to receive this extra money starting next January 25: when financial entities usually advance pension income.