Pension increases and revaluation in March 2023
The pension increase is due in March 2023 for those excluded from the revaluation at the beginning of the year (those who have a check for a gross amount exceeding approximately 2,100 euros). The news is official, the government’s move is important and will cheer up a good chunk of retirees this month they will also benefit from the January and February arrears. So it will be a richer check what is about to be delivered. However, some things need to be clarified. The revaluation is a mechanism provided by law for safeguard the purchasing power of pensions over the years, not making it susceptible to increases in the cost of living. It must be said that in 2022 inflation was decidedly high: an average value of 8.1%, but the provisional one used by INPS for the 2023 revaluation is 7.3%. The adjustment, with the difference of 0.8%? It will arrive in January 2024.
The other side of the coin, however, concerns pensions with the highest incomes. Because if it is true that for those up to 4 times the minimum treatment was 100% compared to inflation, for the others it goes down. And therefore there is a loss in purchasing power. Let’s take some examples.
March pensions increases and arrears
Who has a pension of 2,500 euros gets an increase of 155 euros gross per month and in March based on the revaluation, given the arrears of January and February it reaches 465 euros. Pension of 3,000 euros gross per month? They are 120 euros and therefore in March 360 euros enter the check. It’s still. Gross pension 4,000 euros monthly: monthly increase of 136 euros added to the arrears of 272 euros will lead to a payment of 408 euros. Gross pension of 6,000 euros: the increase is 140 euros which, added to the arrears of 280 euros, will bring 420 more to pensioners in March.
Pension increases or… cuts? The revaluation in pensioners’ checks
Pensions between 2,101.53 and 2,626.90 euros: 85% of the rate;
Pensions between 2,626.91 and 3,152.28 euros: 53% of the rate;
Pensions between 3,152.29 and 4,203.04 euros: 47% of the rate;
Pensions between 4,203.05 and 5,253.80 euros: 37% of the rate;
Pensions over €5,253.81: 32% of the rate.
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