Pensions will be ‘rewarded’ in November 2023 with a ‘rise’
In November 2023, retirees and pensioners (retirement) who collect a pensionthey will take a joy that many of you will already know, but that for some will have gone unnoticed.
All of you you will receive a considerable increase in your income through this month’s pension, an increase that will benefit almost 12 million people who are collecting a contributory pension and that will be nothing more than the beginning of small increases that will continue to occur throughout 2024.
In December 2022, the Council of Ministers approved a Royal Decree that made it possible to revalue the contributory pensions of the Social Security system, Passive Classes and other public benefits for 2023. The objective was to equate these pensions with the increase in the CPI that It has done so much damage to the domestic economy of many homes. It came into force on January 1, 2023 and marked a general increase of 8.5% of these pensions.
In this way, the rise also affects the extra pay that you will receive in November 2023, taking into account that The increase in the average retirement pension is 107 euros per month or 1,500 euros per yearplacing the average contributory pension in the 1,367 euros monthly. Also affected are widow’s pensionswith an increase of up to 930 euros per year.
In the case of non-contributory pensions or of Minimum Vital Taxthe increase is 15% given their situation.