They will be double winners in December 1.055 million low-income pensionerswho will receive in December and before the holidays the permanent increase of 3% but also the emergency aidi.e. the social solidarity allowance of 150 euros.
OR emergency aid of 150 euros will be given to pensioners:
- with income from main pensions up to 700 euros per month (8,400 per year)
- without personal difference or
- with a personal difference of less than 10 euros
Therefore, the pensioners in question will receive the 3% increase from 1/1/2024 and because they are low pensioners – on pensions of €700 the increase will be just €21 per month – they will also receive the social solidarity allowance at Christmas. I mean their annual benefit will be 402 euros.
When will the severance pay be paid?
According to secure information from “Imerisi”, the legislative provision for the Social Solidarity Allowance will provide that it must be paid by 31 December 2023. This means that it can be paid in a lump sum payment after Christmas and before the New Year – if not paid before Christmas.
Examples
A pensioner with earnings of 600 euros will receive a total increase (extraordinary allowance of 150 euros + 3% increase from 1.1.2024) on an annual basis of 366 euros or 5.1%
Pensioner with a pension of 650 euros – He will receive an extraordinary one-off benefit of 150 euros and a permanent monthly increase of 20 euros. In the December payment (pension + 3% increase + social solidarity allowance): €820
Another pensioner with a pension of 500 euros will receive a 3% increase (15 euros per month) + the 150 euros boost: Total 330 euros per year.
Personal difference allowance
On the contrary, the 750,000 pensioners with a personal difference of more than 10 euros and pensions up to 1,600 euros, who are not entitled to the 3% increase, will receive a personal difference allowance of 100-200 euros.
For pensions up to 700 euros the allowance will amount to 200 euros,
for pensions from 701 to 1,100 euros the allowance will be 150 euros and
for pensions from 1,101 to 1,600 euros the allowance will amount to 100 euros.
For example:
A pensioner with a pension of 700 euros who is not entitled to an increase due to a personal difference will receive an allowance of 200 euros. A pensioner with a pension of 1500 euros who is not entitled to an increase due to a personal difference will receive an allowance of 100 euros. Those retirees who do not get raises, in addition to the personal difference allowance, will be able to reduce their personal difference accounting so that in the coming years they can expect real increases in hand.
Pensioners with pensions of more than 700 euros without a personal difference will only get the 3% increase.
The difference from last year “scissors” this year’s exhibition
We remind you that due to the decline in inflation, the 7.75% increase given in 2023 should have been 0.15% lower. That is why there is the assessment that 2024 increases will range from 2.95% to 3.1%.
However, the increase in the growth rate to 2.4% in accordance with the EU forecasts gives the scope for marginally larger increases which cannot be ruled out to reach 3.2% and in any case will not fall below 3%. The increases will be sealed next week (Monday, Tuesday) with the tabling of the budget in Parliament.
However, the differences are marginal. For example in the average pension of 700 euros, with the increase of 3%, the pensioner will see his pension increase by 21 euros, while with 3.2% the increase will amount to 22.4 euros.
The increases at the end of December will be credited to approximately 1.5 million pensioners that do not have a personal difference or if they do, it is less than 10 euros. The national pension will rise from the current 413.76 euros to 426 euros on 1/1/2024.
Who will get the entire increase?
According to initial estimates, the entire increase they will get:
- about 500,000 pensioners who left after 5/13/2016 without personal difference,
- 550,000 farmers which are not subject to pension recalculation provisions and
- 350,000 old pensioners who either did not have or covered the personal difference with the 2023 increases.
End about 300,000 old pensioners who had zero personal difference will get a double increase with the pension recalculation over 30 years of insurance. The pensioners in question will receive at the end of December the 5th and last installment from the increase resulting from the recalculated pension and the 3.1% of 2024 will also “fall” on the already increased pension with the 5th installment.
Source: Daily
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