In this year 2023, pensions have risen 8.5% for each of the monthly payments, including that of this month of April, with respect to each payment of last year.
Thus, Social Security adds for this fourth month of the year a revaluation based on the interannual CPI proposed by the Government in 2022. Item that was added to the General State Budget for the 14 monthly payments of this year.
The pension increase was applied for the first time last January with the aim of helping to combat economic inflation.
With this automation in the increase in pensions on an annual basis, the old pay that the Executive applied to the budgets each year also disappears. Then it was used as a specific tool to compensate for the loss of purchasing power of retirees in the face of the rise in prices of consumer goods.
The 10 million retirees in Spain by law collect their pensions in arrears, between the 1st and the 4th. However, a large part of the financial institutions also advance the payment of each monthly payment.
This April, pensioners will receive their payroll in their checking accounts between the 24th and 25th.
The specific dates on which banks and savings banks will pay pension payments in April 2023, as reported by 65ymas.com are:
Likewise, the 15% increase in non-contributory pensions approved in July 2022 will be maintained during the 2023 financial year. These benefits remain as follows:
According to the criteria of The Trust Project