If we consult the data month by month and add them up, we get an accumulated value of 30, which divided by 12 leaves us with an average of 2.5% for that period. In this way, as the suspected inflation for 2022 was 0.9% but the costs in any case escalated to 2.5%, Social Security now pays them the 1.6 point difference. The recipients of minimum contributory pensions, non-contributory pensions and the Essential Minimum Income are left out of this calculation, who will also receive the \’paguilla\’, although in their case the increase rises to 1.6% as determined by the General Capital of the State. Another group that will also receive this payment is that of beneficiaries of the Minimum Essential Income. A much higher 1.6% of the income they receive will be applied to these, all apart from the 3% increase that they will receive this year.
The Minister of Inclusion, Popular Security and Migrations, José Luis Escrivá, assured that the total budget for this measure amounts to 3,800 million. Half of them for retirees and the other half to consolidate the pension payroll. The revaluation of contributory pensions with inflation will mean an additional expense of «practically 5,000 million» in 2022, according to a recent estimate by the Secretary of State for Social Security and Pensions, Israel Arroyo. This new benefit is intended for early retirees in the last 20 years who have had a long contribution career. It can be noted that this new benefit is intended for early retirees. The goal is to compensate the workers who, after a long career, have seen how the new coefficients that are approved with the new law are more advantageous than those they had in their day.
This increase in costs causes a loss of purchasing power for workers, but thanks to what is known as payroll, pensioners will not suffer this consequence. The Government is going to fill the benefits with an important compensatory payment in this month of January and, in addition, it is going to increase the amount in 2022 by 2.5% to ten million possibilities. This new measure replaces the payment that is delivered in 2022 for the last time by linking the revaluation of pensions with average inflation from year to year.
Of March
It is not contemplated that more payrolls will be made in the future, since with the pension reform suspected, pension revaluations will be updated according to the CPI for the 12 months preceding November. Likewise, there will no longer be differences between the revaluations, which up to now have been calculated according to the forecasts for the following year, and the actual data. At the time when average annual inflation is negative, pensioners will not experience any cut in their capital.
The entry into 2022 has meant a revaluation of pensions of between 2.5 and 3% (the minimum and non-contributory) due to their reform, which is undoubtedly a source of joy for all the victims. Despite the fact that the «paguilla» that many pensioners received in January is, from the outset, the last for the new pension calculation service, an important novelty for this year is the supplement that some pensioners will begin to receive during this month of March . The State will compensate the elderly with the 1.6 points of difference between the rise in possibilities based on suspected inflation (0.9%) and the real rise in prices (2.5%). This means that pensioners have received 16.6 euros less each month than they should in order not to lose purchasing power, so that in the second half of January they will be compensated with a single payment of 232 euros.
At the end of March, the pensioners will receive the money from this benefit. Find out what day the pensions are collected here.
When the payment is collected in the first month of the year is one of the questions that pensioners ask themselves at the start of the year, especially with the rise that prices have suffered last year. In fact, the Consumer Cost Index rebounded again in the last month of 2022, reaching 6.7% and continuing to reach levels that had not been recorded since March 1992. To know its amount, one must take into account that, although we have closed 2022 with inflation at 6.7%, the December data is not the one used to calculate how much the \’paguilla\’ amounts to. Just like what happened to find out the revaluation of pensions for the current year, what is done is an average of the CPI records between December of one year and November of the next. According to what was published on the \’65 y mucho más\’ website, the date of payment of this extra pension will vary depending on the bank where the person is domiciled.
The amount is between 4.5 euros and 82 euros, depending on the case, collected monthly together with the pension in 14 payments. The calculation is made according to the difference between the official pension and the one that would have been received if the new 2022 coefficients were applied. It must be remembered that the revaluation of pensions in 2022 was set at 2.5% for contributory and by 3% for the minimum and non-contributory. If the pension is less than 900 euros, the requirement of years of contributions for this compensation drops to 40.
The Minimum Retirement Pension Rises This Year To 721 Euros, And The Maximum To 2,819 Euros
In this way, from this Friday, January 21, those who do so through Bankinter and Caja de Ingenieros will be able to start collecting it. As of Monday, January 24, those of Banco de Santander, Unicaja-Liberbank, and Caixabank will do so, and from January 25, those of SabadellHerrero, Ibercaja, BBVA, Kutxabank, ING, Cajamar and Abanca. Specifically for this month of March, we estimate that it will be from next week, but it will also depend on each bank. The requirement is that, in the case of voluntary early retirement, the beneficiaries will be those workers who have taken early retirement a maximum of 4 years before reaching the ordinary retirement age between January 1, 2002 and December 31, 2022. .
Exactly on the 25th, it is planned that BBVA, Kutxabank, Sabadell, Santander (which in some cases will make the deposit already on the 24th), Ibercaja and ING make the payments. However, although Social Security establishes that this money must be issued before the fourth calendar day of each month, banks commonly advance these payments. The Popular Security takes into account that contributory pensions will be revalued by 2.5% in 2022, the average of the consumer cost index between December 2020 and November 2022, a formula agreed in July with the social agents. Those 5,000 million include both that 2.5% increase, and that «paguilla» with which the Government must compensate the difference in inflation with the 0.9% increase applied in 2022 and which is close to 2,000 million. Caixabank, Santander and Bankinter normally deposit the money for this benefit precisely on the 23rd of each month.
Certain Entities Now Plan For January 20 The Advance Of This Compensation For The Deviation Of Inflation
In effect, there is talk of compensation for all early retirees who have not been affected by the current revaluation of the amounts. On the other hand, to receive the new pension supplement, those who are in the aforementioned situation must prove a minimum of 44 and a half years of contributions, which can go down to 40 if their pension is less than 900 euros per month. There is no management to do; Popular Security will directly update the pensions of those people who are entitled to the supplement.