“We should not use Social Security funds, intended to enhance medium and long-term sustainability, for permanent pension increases,” reiterated the minister during a hearing on the general budget proposal for 2026 (OE2026).
The minister noted that the Government utilized the budget’s margin to “make an extraordinary payment to pensioners” with lower pensions.
In question is the PS’s intention to propose that the extra balance in the Social Security budget be used for permanent increases in lower pensions, as announced by the party’s secretary-general, José Luís Carneiro.
During his closing speech at the PS Parliamentary Days in Penafiel, Porto district, José Luís Carneiro accused the Government of a “systematic failure” in predicting the Social Security balance, describing it as a “hidden cat with its tail sticking out” in the State Budget, which was estimated at one billion euros.
However, the issue regarding pensions arose from the Chega bench, not the PS, which the minister highlighted by pointing out that “the PS did not wish to discuss the secretary-general’s proposals on pension increases through a Social Security balance that in August is altered or influenced by transfers from the central administration.”
“The Social Security balance in August increased by one billion, but about 600 million euros resulted from a transfer from the central administration for the payment of the extraordinary pension supplement in September and for strengthening the Solidarity Supplement for the Elderly and other expenses,” he explained.
Miranda Sarmento thus emphasized that the Social Security balance “is increasing by around 400 million euros and not what José Luís Carneiro stated, which would allow for a structural increase in expenditure.”
