2024-09-01 04:00:30
As usual, the first day of the month brings a slew of news affecting personal finances.
Small pension increase of RMB 1 million with retroactive effect
On September 1 this year, around 1 million former employees, businessmen or craftsmen must have their pensions increased by a total of up to 100 euros, with an average monthly amount between 50 and 60 euros (exact figures must be announced soon).
This small pension revaluation measure is part of the April 2023 pension reform and will come into effect for new pensions on 1 September 2023. For people who have retired on this day, two situations will occur:
Description | How many quarters will it take to fully retire after the reform?
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– A portion of the pension (600,000) will be increased immediately;
– Another one (about a million) had to wait because “Calculate management actions required for this increase”, Retirement Insurance Explained.
Therefore, the waiting must end on October 9 when the September pension is paid (subject to certain exceptions). The exception is pensioners of the Alsace-Moselle Fund, whose September pensions will be paid on 2 September. With retrospective effect: the 12 months’ extraordinary increase not received will be paid through the pension revalued in September.
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Benchmark gasoline prices edge down
For customers connected to the distribution network operated by GRDF, the average benchmark sales price of natural gas (PRVG) fell by 1% in September compared with August to 130.21 euros per megawatt hour (MWh) including taxes, The Council for Energy Management (CRE) announced.
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Since deregulated natural gas prices, CRE has published this benchmark price every month for all consumers to assist consumers in comparing offers. This is an average estimate of the costs borne by suppliers to supply natural gas to residential customers, including supply and non-supply costs. It consists of fixed (subscription) and variable parts.
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New withholding tax rate
As every year, the new withholding tax rate will automatically replace the previously applicable tax rate in September, calculated from your spring 2024 tax return and therefore based on the income you received in 2023.
However, if you have adjusted your tax rate since the beginning of the year (either before or after filing) and you selected a higher tax rate than the one at which your tax was calculated, the replacement will not occur before January 1, 2025.
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