Citizens who receive an old-age or disability pension from the social security system receive a monthly amount, to which are added two additional payments per year. These two extraordinary payments are usually paid in the month of June and the other in the month of November. As the month of June approaches, many retirees hope that the National Institute for Social Security (INSS) will enable them to collect their extraordinary premium pension. What is new for pensioners who receive the extra summer wage is that they receive a higher amount due to the revaluation of pensions. How much the extra wage will increase in 2023 In the last days of June, the banks will pay the extra wage to pensioners. Depending on the bank where the pension is administered, they may receive this payment earlier. Thanks to the pension reform, the amounts for this population group have increased by 8.5%. For example, the maximum pension would exceed the limit of 3,000 euros, which would also have consequences for the extra benefits. The extra repayments correspond to the same amount as with a normal monthly repayment. According to data from Moncloa, the average pension this year will exceed 1,500 euros for the first time, meaning that the average pension will rise in a year to an average of around 116 euros. For example, at the end of June, when the summer allowance is charged, the amount must be increased by two, so that the increase becomes 232 euros. Therefore, the average pension for the month of June in Spain, together with the extra salary, will add up to a total amount of about 2,700 euros on average, although it all depends on each pensioner’s usual amount. Standard Related news No The novelty of social security so that pensioners can collect the pension THE TRUTH This procedure allows another person to apply for the pension benefit for you via the Internet Citizens who receive the maximum pension, but do not receive this income The pensioners who receive the maximum pension whether they receive one or more pensions, will receive a total pension of 6,118 euros in the summer. The maximum pension is currently set at EUR 3,059 gross per month, which multiplied by two (ordinary and extraordinary summer pay) results in a pension of EUR 6,118 in June. Pensioners who are not entitled to extra pay are the beneficiaries of a permanent disability as long as it is the result of an accident at work or an occupational disease. It is not that the extraordinary wage is not received, it is distributed pro rata over the 12 monthly payments, as explained by the social security.
Source: La Verdad
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
