The good news that comes with summer pension increases: the amount increases

Summer is coming, and with it the extra pay for many workers, but also for pensioners. Pensions, among them, pensions were revalued by 8.5% in 2023, taking into account the average inflation of the previous year. This fact will increase your extra salary as well.

This increase in pensions is effective from January 1, 2023 and It assumes 1,500 euros more per year For an average pension, as defined at the time by La Moncloa.

According to the executive branch’s calculations, 11.8 million retirees and benefit recipients took advantage by maintaining or increasing their purchasing power.

How much will retirees get overtime?

Receive retirees Inflated in 14 batches As stated in the Social Security General Code, the extra summer pay is twice the net monthly amount. This pension reform allows retirees to be Regain lost purchasing power in 2022 According to Social Security data, retirees will earn an average of 107 euros per month.

These data indicate that the average pension in Spain is stable 1,364 euros per month. Thus, depending on how the additional pension is paid, Spanish retirees will receive an additional salary that is multiplied, that is, 204 euros on average in this monthly payment during the previous year.

On the other hand, this is not the only good news that retirees will receive this summer. Normally, this double monthly payment is made in the first days of July, but the collection will be paid in 2023.

The exact date depends, as always, on each case and the entity responsible for paying. However, in general, retirees will receive the pension Between 23 and 28 June 2023.

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important expenditures of the state

The increase in pensions prompts the government, applied at the beginning of the year, to redouble its efforts every year to comply with its obligations to pension recipients. In the month of April exchange it jumped 11%. This month alone, 10,026,535 pensions were paid out, which is 1% more than last year, to just over nine million pensioners.

In March, the government approved a pension reform that includes aspects such as changes when calculating minimum pensions, the mechanism for equality between generations or the solidarity share.

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