San Marino pensioners demand inflation adjustments

The National Federation of Pensioners (FNPS-CDLS) in San Marino has expressed support for a recent interim agreement between the government and trade unions. The agreement aims to protect the purchasing power of public administration employees and workers at the State Autonomous Production Company against rising living costs.

However, the federation is calling for similar measures for pensioners. They argue that while recent collective bargaining agreements have provided wage increases of up to 3%, pensioners remain excluded from sufficient adjustments. With inflation reaching 3.2% in July, the 2.20% revaluation mandated by 2022 legislation is deemed inadequate to prevent the erosion of real pension values.

Furthermore, the FNPS-CDLS highlighted that tax reforms are expected to reduce net disposable income for many pensioners by 2026, particularly affecting former cross-border workers. The federation maintains that pensions should be protected from inflation as earned income rather than treated as mere assistance.