The bridge agreement for public administration employees and AASLP salaried workers has been welcomed by the FNPS-CDLS, which nonetheless puts the issue of pensions on the table, questioning whether they are keeping pace with the rising cost of living. The National Pensioners’ Federation of the CDLS views the deal reached between the Government and trade unions as a useful step in protecting employment income, but insists the same principle should be applied to pension payments as well.
“If it is right to intervene on wages to recover at least part of the lost purchasing power,” the FNPS-CDLS notes, “the same principle must apply to pensions. Pensioners cannot always be the ones left out of adjustments while the cost of living keeps rising.”
At the heart of the union’s position lies the relationship between inflation and pension revaluation. In its statement, the Federation points out that inflation reached 3.2% in July, while the mechanism introduced by the 2022 law provides for a revaluation of just 2.20%, applied in full only to the lowest pensions and progressively reduced as the amount increases. This gap, according to the union, is steadily eroding the real value of pension payments.
“We cannot accept a growing gap between those still in work and those who have completed their working lives. A pension is neither a privilege nor a form of welfare assistance: it is income earned through years of work and contributions, and it must be protected from inflation,” the FNPS-CDLS statement continues.
The Federation also raises concerns about the effects of the 2026 tax reform, which would result in reduced net disposable income for many pensioners, including numerous former cross-border workers. It draws a comparison with recent developments on the wage front: since the start of the year, the FNPS-CDLS notes, several collective agreements have been renewed — spanning retail, services, construction and insurance — with increases of up to 3%. The public sector agreement now adds to this list.
“It is a good thing that wages are rising again. But it is not socially sustainable for those in work to regain purchasing power while pensioners continue to lose it,” the statement reads. According to the Federation, this concern is increasingly shared among pensioners themselves. Commenting on social media about the public administration agreement, some summed up the issue with a simple question: “When will it be our turn?”
The FNPS-CDLS goes on to broaden the discussion to the role pensions play within families. “Pensions do not only support those who receive them. Increasingly, they represent a source of economic stability for entire family units,” the statement reads, highlighting the support many pensioners provide to children and grandchildren struggling with precarious employment, low wages, rent and rising daily expenses.
“In many families, it is pensioners who effectively act as a social safety net. We cannot ask them to keep supporting younger generations while the real value of their pension keeps shrinking.”
Hence the appeal to San Marino’s political leadership: bring pension revaluation back to the centre of dialogue with social partners, by reviewing the system set out under Law 157/2022. The FNPS-CDLS specifically asks not to wait until 1 January 2028 to devise a new mechanism capable of ensuring protection that more closely tracks actual inflation trends.
The Federation concludes by pointing to the roughly 10,000 pensioners in San Marino, calling for measures that recognise the value of years of work and contributions. As the FNPS-CDLS statement puts it, “this is a matter of dignity, fairness and social justice.”
