PENSIONS PENSIONS | This group of pensioners already have extra money in their accounts: check your bank

Pensioners in Spain are lucky because the exact dates when banks will advance payment pensions This month is August.

This year, in line with the Spanish government’s reform, there has been an increase in basic and maximum benefits, as well as an improvement in minimum pensions based on the consumer price index (CPI). This translates into a 3.8% increase in contributory social security pensions, as well as ordinary and extraordinary pensions under the special state regime for passive classes.

In addition, minimum non-contributory pensions and the minimum subsistence minimum (IMV) increased by 6.9%, while pensions for widows with family responsibilities will increase by 14.1%.

When are pensions paid for July?

Social Security makes cash transfers from beneficiaries’ pension money available to banking institutions between the first and fourth day each month, as they are paid in arrears.

Pension receipt dates

However, Banks and savings banks usually advance these pensions to their customers.who usually receive them in the last days of the previous month, from the 22nd to the 26th, if there are no holidays or weekends.

Pension receipt dates according to different banks:

• Abanca: Monday, August 26.
• Banco Sabadell: Monday, August 26.
• Bankinter: Thursday, August 22.
• BBVA: Monday, August 26.
• CaixaBank: Friday, August 23.
• Engineers’ Fund: Friday, August 23.
• Cajamar: Monday, August 26.
• EVO Smart Banking: Tuesday, August 27.
• Ibercaia: Monday, August 26.
• ING: Monday, August 26.
• Kuchabank: Monday, August 26.
• PiBank: September 1.
• Santander: Friday, August 23.
• Unicaja Banco: Friday, August 23.

How can I get a pension?

As stated in the Social Security rules, pensioners can receive their pension in several ways. The first is through financial institutions such as banks, savings banks, village banks, credit cooperatives and similar associations using individual or joint current accounts or savings accounts.

The second option is that payments are administered by social graduates who need to obtain approval from the relevant financial institution. Finally, pensioners living in social welfare centers can receive their pensions through the administrators of the said homes.