The pensions paid by Social Security are now paid to retirees, with the amount reflecting the 3.57% interim increase and the new IRS regime.
“The interim increase in pensions, in the case of Social Security, will be paid on July 10,” an official source from the Ministry of Labour, Solidarity and Social Security told Lusa, specifying that with regard to the pensions of Caixa Geral de Aposentação, as will take place “on July 19”.
July is also the payment month of the holiday allowance and the interim increase of 3.75% is calculated pro rata.
This 3.57% interim increase in pensions was announced by the government in April and will be added to the increase recorded in January, allowing the legal formula for updating pensions to be applied in full.
The new update concerns disability and old-age pensions under the general social security system and the convergent social security system, granted before 1 January 2023, with the increase of 3.57% calculated on the basis of the value of the pension in December 2022.
According to the ordinance elaborating the measure, for pensions whose amount is equal to or greater than EUR 291.48 and less than or equal to EUR 960.86, the increase may not be less than EUR 9.93.
For pensions of more than 960.86 euros and equal to or less than 2,882.58 euros, the minimum increase is 34.30 euros.
The pensions above 2,882.58 euros and up to 5,765.16 euros in turn receive an increase that cannot be lower than 102.91 euros.
Like old-age pensions, survivor’s pensions, blood prices and others are also updated at 3.57%.
In addition, the pension amount that goes to Social Security retirees today also reflects the new IRS withholding model, which will result in a reduction in the monthly tax amount paid for many retirees.
Source: DN
