The pensions of the old Compulsory Old Age and Disability Insurance (SOVI), the lowest in the system, can be added to the widows of the General Regime
If you started working before 1967, you surely remember that SOVI was one of the social insurances that existed before the implementation of an integrated model of social protection. The Compulsory Old Age and Disability Insurance, which that year became a “residual regime”, recognized three types of pension (retirement, disability or widowhood) that today have 243,475 beneficiaries who receive fourteen payments of an average amount of 421 euros.
These pensions are recognized for workers (and their partners) who do not have the right to a pension from the other schemes because they do not meet the current Social Security contribution requirements, but who did contribute 1,800 days to the Compulsory Old-Age and Disability Insurance.
Although in general SOVI pensions are incompatible with each other and with any other paid by Social Security, a 2005 law recognizes that the fact that they are the lowest benefits in the system and the main means of subsistence for a significant number of elderly coupled with the certainty that “since the mid-1990s, an important pocket of poverty has been taking shape in our country made up of elderly people, mainly women”, justifies the compatibility of any of them with the widow’s pensions of the other schemes. In other words, if the requirements to be entitled to both are met, it is no longer necessary to give up the lower one.
In order for both benefits to be compatible, the Social Security establishes as a requirement that the sum of both not exceed twice the amount of the minimum widow’s pension for beneficiaries aged 65 or over established at any given time. This year that annual amount is set at 10,103.8 euros, so the income ceiling to reconcile pensions is 20,207.6 euros per year. If this threshold is exceeded, the amount of the SOVI will be reduced until the total remains at those 20,207.6 euros.
According to Social Security data for May, the SOVI retirement pension is 420.51 euros per month, the widow’s pension contributes 434.59 euros per month and the disability pension 433.23. It must be remembered that these pensions are not revalued based on the CPI but are updated based on what is approved in the General State Budgets, so this year they have risen by 3%. Thus, currently the maximum amount is established (for the three modalities) at 462.20 euros per month (6,470.80 per year) when they are not concurrent with other pensions and at 448.60 euros per month (6,280.40 per year) when yes they are and their holders have the right to complete this income with a widow’s pension from the general regime.