PSD promises to raise minimum pension to €820

 In News, Pensions

The leader of Portugal’s PSD centre-right opposition party, Luís Montenegro, has promised to raise the minimum pension to €820 per month if his party wins the forthcoming general election on March 10, 2024.

Montenegro made the pledge in his closing speech to the 41st PSD Congress. Party members and PSD voters who are pensioners are among those who have most suffered since the troika in 2011. He said that by the end of a PSD-led legislature, he would rise the minimum legal wage to €820 in increments and would find the money to do so.
Currently the basic State pension Solidarity Complement for pensioners will go up to €550 in 2024 and will cost the State around €300 million, an amount that corresponds to 0.1% of GDP.
“I admit that many jump up and question us about the accounts to finance these measures. We’ve done the maths, and we’ll present the accounts in more detail”, he said.
Given the expenditure today on pensions and Complimentary Solidarity in Portugal, these objectives, not being easy, demand sound public policies and prudent finances, but are achievable”, said the PSD leader without going into numbers.
“We won’t cut a single cent from any pension. We’ll increase it in accordance with the pensions law generally, but we’ll do it gradually until the end of the legislature, putting the Solidarity Complement for the elderly at €820,” he said.
However, the election candidate for the PS, Pedro Nunes Santos said in Matosinhos (Porto) that the PSD proposals for pensions “lacked credibility”.

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