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Tuesday, February 27, 2024

Indexing has been fixed. How much will the 13th pension cost?

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After the CSO presented data on the real increase in average wages in 2023, we now know what the minimum pension will be. This allows you to determine the size of the 13th pension, which will be paid in the spring.

At the end of last week, the Main Statistical Office (GSO) released data on real growth in average wages in 2023. This is one of the components of the formula by which the pension indexation index is calculated, i.e. the average annual price index for consumer goods and services increased by at least 20% in the previous calendar year. real increase in average wages in the previous calendar year.

Glavstat reported that the real growth rate of average wages last year was 1.1%. In turn, in mid-January we learned data on average annual price indices for consumer goods and services in general and for households of pensioners and disability pensioners for the past year. They amounted to 111.4 (price increase by 11.4%) and 111.9 (price increase by 11.9%), respectively.

How much will the 13th pension cost?

The Ministry of Family, Labor and Social Policy reported that this year the indexation rate of pensions will be 12.12%. This means that from March 1, the lowest pension, total disability pension, survivor’s pension and social pension will increase from the current PLN 1,588.44 to PLN 1,780.96.

The 13th pension will also increase by this amount. The amount of benefits assigned starting from 2019 is determined based on the size of the minimum pension. The “thirteenth” payments are scheduled for April; they are due to all eligible persons in a fixed amount, regardless of their income.

The situation with the 14th pension is somewhat different. This benefit, as Super Express reminds, can amount to a maximum of PLN 2,650 (the final amount is determined by the government), but in this case, people whose regular income does not exceed PLN 2,900 gross can count on the full amount. Otherwise, the “PLN for PLN” mechanism is provided. In practice, this means that the “fourteenth pension” will be reduced by exactly the amount exceeding PLN 2,900 gross. The minimum amount of benefit that can be paid is 50 zlotys. Payment of the 14th pension is scheduled for the second half of the year. Last year payments were made in September, last year in August, and in 2021 in November.

Designed by: Radoslaw Święciki
Source: Super Express, Wprost.pl
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Source: Wprost

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