The Ministry of Finance calculates that the rise in pensions next year will be around 8.5%, a figure that will materialize with November's inflation. In addition, its owner, María Jesús Montero, has announced that the Reserve Fund will be endowed for the first time in thirteen years.
At the press conference after the Council of Ministers that approved the budget project for 2023, Montero stressed that pensions will rise according to the CPI, as agreed in the Toledo Pact, which will raise this budget item by 11 ,4%.
The specific increase will not be known until November's inflation is known, but the Government estimates that it will be around "8.5%".
Likewise, Montero has advanced that, "for the first time in thirteen years", the Government will make a contribution to the reserve fund for an amount of 2,957 million, from the intergenerational equity mechanism, which gives "great peace of mind to our elders".
The minister has encrypted social spending in the Budget at 266,719 million, six out of every ten euros, "the highest figure ever recorded".