The day you are expected to receive your pension in July, according to your bank.

RETIREMENT

It is very likely that you do not know what day you are going collect pensionbecause many banks promote payment of this benefit to its customers in July 2024. This affected more than 9 million pensioners. Every month National Institute of Social Security (INSS) sets a specific pension payment schedule, ensuring that beneficiaries receive their benefits on time.

According to current legislation, payments must be made according to first work day month following the relevant period, and always before the fourth calendar day of the same month.

In practice this means that Social Security Transfer funds to banks from the 1st to the 4th of each month. Therefore, you should take this into account to know the day when you are going to receive your pension.

However, from the beginning pandemicMost banking organizations have decided advance these paymentsIn the first months of the health crisis, all organizations agreed to advance pensions to provide retirees with greater financial stability.

This measure remains in place and many banks now process payments between days. 22nd and 25th of each monthThe exact subscription day may vary depending on whether it falls on a holiday or weekend.

The day you are going to receive your pension in July

Thus, as for the pension for July of this month, the benefit amount may reach beneficiaries from Monday, July 24 to Tuesday, July 25.

Therefore, beneficiaries should take into account that, as with any company, from time to time overdue payments for pensioners.

However, these delays are usually minimumsonly a few days. To avoid problems, it is important that pensioners keep their Banking information updated in Social Security Records.

In addition, along with the July pension, pensioners will receive additional charges which increased by 3.8% in 2024. This growth is the result of revaluation of pensions what he Government of Spain submits an application from 2023.

In particular, in 2024, these remunerations were subject to a significant revaluation, adapting to the economic conditions of the country and seeking to guarantee an increase purchasing power for pensioners. Growth is not the result of chance, but is contained within a framework Strategic plan created to ensure pension compliance inflation and other economic factors.

All funded pensionsincluding those related to the Special Regime Passive classes state, increased by 3.8% this year. The adjustment is based directly on year-to-year variations. Consumer price index (IPC) published National Institute of Statistics (INE) during the twelve months ending December last year.

Thus, the consumer price index was set at 3.4% in June and has been above 3% for 10 months in a row, according to the final data published this Friday by the agency. National Institute of Statistics (INE). Fall fuel – which rose again in July – allowed Spanish inflation to slow by two tenths. Coincidentally, last year, in June, fuel prices skyrocketed.

Hence CEOE claims that these levels are determined fiscal policy Sanchez and the government blames. In fact, in MarchInflation reached 3.2%, exceeding the 3% level, after increasing by 0.4 points compared to the data Februarybecause of Increase in VAT on electricity socialist executive power. Since then, the consumer price index has never returned to a level below 3%.

However, not all pensioners They will receive this additional payment. Those people who became pensioners after January 1, 2024, will have to wait until Christmas take advantage of this additional income.

On the other hand, people who receive a pension exceeding 3175,04 euros per month They will not see a salary increase, since these pensions are not subject to revaluation, according to Social Security.

The amount of the surcharge is calculated by multiplying salary base full month, for work period or for the period of salary accumulation. For those who have worked a full year, the amount will be equal to the monthly salary multiplied by two.

In addition, interested pensioners should be aware that these extraordinary payments proportionally in the form of regular monthly payments. Thus, pensions received from industrial accidents and occupational diseases will be paid in 12 monthly payments instead of 14.

So all the previous information is important because this way you will be able to know exactly what day you are going to receive your pension in July, which can help you plan summer and, above all, vacation.