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How much will pensions rise for 2023? New amounts receivable in January

Date: May 28, 2023 Time: 23:03:42

The revaluation of pensions for 2023 will be made effective by collecting them from this same month of January. However, the minimum and maximum amounts will not be the same for some pensioners as others. First of all, it should be remembered that the increase in these economic benefits is contemplated in the new General State Budget. However, non-contributory pensions, that is, those paid by the Imserso in collaboration with the autonomous communities, will rise by 15%, as will the Minimum Vital Income.

The objective that is sought from within the Government, a request from the Ministry of Inclusion, Social Security and Migrations, is that “pensioners do not lose purchasing power”, as well as “modernize the pension system”. This was detailed by the minister José Luis Escrivá that this week he sent a letter to nine million beneficiaries. Precisely in this sense, it must not be forgotten that inflation shakes the pocket of the Spaniards. Although the month of December closed below 6%, which is still a high rate, in August 2022 the double-digit barrier was broken for the first time in history. Specifically, it was in August when it reached 10.4%, especially due to the high prices of light and fuel.

On the other hand, contributory pensions or, what is the same, those directly managed by Social Security, are increased by 8.5%, which means that the maximum pension will exceed 3,000 for the first time in the history of Spain. euro. Another point to take into account has to do with the increase in the supplement to reduce the gender gap, whose fixed amount is 410 euros per child, up to a maximum of four children, so it can reach up to 1,641 euros per year. Also, emphasize that Social Security pays it in 14 payments.

When pensions are collected this month

The truth is that although pensions are paid at the beginning of February, there are several banks that advance payment to their clients, as is the case with CaixaBank. In the case of the bank of Valencian origin, it usually makes the payment on the 23rd of each month, that is, on Monday of the coming week, like Santander and Bankinter. On the other hand, people who have their account in Sabadell, BBVA, ING, Abanca, Liberbank, Cajamar and Unicaja, will have to wait until January 25, in conclusion, until next Wednesday.

CaixaBank: January 23 Santander: January 23 Bankinter: January 23 Sabadell: January 25 BBVA: January 25 ING: January 25 Cajamar: January 25 .​Unicaja: January 25.

No extra pension pay: this is why

It was at the end of 2021 when the Government discovered the first pension reform, the most significant measure of which had to do with the elimination of what is already known as the ‘extra payment’ that, normally, will be charged at the beginning of the year to compensate for the rise in prices during the previous twelve months. However, it was 2022 when it would be charged for the last time, since now these social benefits will be revalued at the end of the year taking into account the average year-on-year CPI. For example, for 2023, it has been taken into account from November 2021 to November 2022.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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