António Costa promised this Sunday in Leiria that “there will be an increase in 2024 and no one will receive less pension in January 2024 than in December 2023.” Costa spoke at a socialist rally where he also guaranteed that “never, under no circumstances, however much the opposition may resist me, will I take any action that will jeopardize the future sustainability of social security.”
The prime minister said that “it was very easy to make a bigger gain now, but then we don’t know what might happen.” António Costa said that “we have succeeded in extending by 26 years the period during which the Social Security Financial Stabilization Fund will be in […] fulfill and observe the paid pensions”. But António Costa used the argument of the country’s demographic problem, where “unfortunately, new assets are not born in the same proportion” to retirees, to justify a “contract of trust between generations.” Costa appealed to the spirit of solidarity, drawing a parallel with the pandemic and the sacrifices that the Portuguese have endured together.
Retirement Values, Crisis and Relief Package
Costa promised to increase pensions in 2023 “from 3.53% to 4.43%”.
Regarding the crisis, he said that “it is important to maintain international confidence, because by stopping the growth of interest rates in the republic, we are helping to stop the growth of interest paid by companies and families.”
Regarding the aid package, Costa said that the opposition claims it is small, but the PSD package is smaller.