Most pensioners will see their pension increase in 2026, but the values depend on the bracket they are in. According to the Social Security website, pensioners with pensions of up to 1074.26 euros will have an increase of 2.8 percent, an update that follows the inflation estimated in November by the National Statistics Institute. The value of the social support index, a reference for several benefits, rises this year to 537.13 euros.
The rates applied to pensions above this amount vary depending on the value of the retirement. For pensions between 1074.26 and 3222.78 euros, the increase is 2.27 percent. Pensioners with pensions between 3222.78 and 6445.56 euros will have an increase of 2.02 percent.
According to the same source, there is still the possibility of paying an extraordinary supplement, as in the last two years, but the measure will depend on the evolution of budget execution throughout 2026.
How increases are determined
The calculation of pensions does not follow a single criterion and combines several factors. According to experts on the Social Security website, the update depends on the social support index, the average growth in gross domestic product over the last two years and the average inflation rate without housing in November.
When GDP growth is less than 2 percent, pensions up to two IAS increase only by inflation. If growth is between 2 and 3 percent, these pensions add 0.5 percentage points to inflation.
For the upper echelons, the formula changes. Pensions between two and six IAS are updated by subtracting 0.5 percentage points from the inflation rate when GDP grows by less than 2 percent, or by following inflation if growth is between 2 and 3 percent.
For pensions above six IAS, the update may be smaller, adjusting inflation according to GDP variation, always with limits defined by law.
Updates in the year following award
Since 2025, pensions awarded by Social Security and Caixa Geral de Aposentações can be reviewed in the following year. Those who retired in 2024 were already entitled to a pension update in 2025, ensuring that their retirement follows changes in inflation more quickly.
According to , pensioners can consult all the details of their increase, as well as adjustments and deductions, through the Social Security Direct platform, accessing Pensions > Pension Income > Pension Receipts.
This annual update reflects the effort to reconcile the needs of pensioners with the evolution of the economy, in a formula that combines inflation and economic growth, always based on the social support index.
The next few months will show whether there will be room for extraordinary supplements, but it is already certain that 2026 will bring consistent increases for most pensions, ensuring that pensions do not fall behind the cost of living.
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