Why pensioners will not collect the ‘paguilla’ in 2023: this is the reason
Although the Social Security make the payment of the second extra pension payspread over 14 payments, normally in November, the same will not happen with what is popularly known as ‘the paguilla’. At this point, it is important to distinguish between both concepts. The first term is regulated in article 46 of Royal Legislative Decree 8/2015, which regulates the current General Social Security Law. Nevertheless, 2022 will be the last year in which pensioners will receive the ‘paguilla’ compensatory. An extra designed to compensate for the loss of purchasing power and that from next January 1 will stop receiving.
Now, what was the reason for receiving this financial aid? The reason has to do directly with the Pension Reform Lawled by the minister Jose Luis Escriva. This extra payment responded to the difference between the loss of purchasing power and the increase in the Consumer Price Index (CPI) and the increase forecast by the Government of Spain. Earlier this year, in January 2022, pensioners received a payment of 233 euros.
Why the ‘paguilla’ of pensioners disappears in 2023
The pension reform contemplates a new form of appreciation, which takes into account the year-on-year fluctuation of the CPI in the 12-month average. Therefore, it is taken into account from December of the previous year to November of the current year, that is, from December 2021 to November 2022. Therefore, compensatory aid will no longer be necessary.
Precisely in this sense, it should be noted that the Executive has confirmed the revaluation of pensions by around 8.5% as of January. However, write does not rule out a higher rise for low pensions and the IMV. Nevertheless, the final increase will be announced in December of this same year. If these forecasts are met, the average pension would be set at 1,363.70 euros per month starting in 2023. Various banking entities, institutes and official institutions have already made their estimate of inflation for the entire year, which is pessimistic. On average, they estimate 8.6% and range between the 9.3% predicted by Santander and the 8% predicted by researchers at the Loyola University of Andalusia. In 2022, the rise stood at 2.5%.
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