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Pensions, increases from January 2023: by how much will they increase? How does the revaluation change? INPS instructions

INPS has published a circular in which it communicates the conclusion of the pension revaluation activities. Here's everything you need to know

Pensions, increases from January 2023: by how much will they increase? How does the revaluation change? INPS instructions

Le pensions 2023 they will be higher. L'INPS has published the circular no. 135 of 22 December 2022, with which he communicates the conclusion of the activities of revaluation of pensions and assistance services. Starting from January 2023 therefore it will proceed to pay with the new amounts. 

Pensions 2023: how does the revaluation change?

On the basis of what is established by a decree of the Ministry of Economy, "the percentage of variation for the calculation of the equalization of pensions for the year 2022 is determined in an amount equal to 7,3% from 1 January 2023". the INPS. But, given that the 2023 Budget law which will have to be approved by 31 December provides for interventions aimed at remodulating the procedures for attributing the automatic reevaluation for pension treatments more than four times the minimum treatment, INPS has for the moment attributed the full 100% revaluation only to beneficiaries whose amount is included within the limit of four times the minimum treatment, i.e. 2.101,52 euros gross. "For pensioners whose cumulative pension treatment is higher than the aforementioned limit, the revaluation will be attributed to the first installment after the approval of the 2023 budget law", communicates the National Social Security Institute.  

INPS table
INPS table

Pensions: what the 2023 Budget law provides

La Budget Law 2023, approved by the Chamber and which will arrive in the Senate on 27 December, provides for the abandonment of the current 3-band regime and the adoption of a new 6-band regime. The full revaluation of 100% to inflation will be attributed to pensions up to 4 times the minimum, equal to 2.101,52 euros gross per month. In figures, this is a gross monthly increase of 153 euros. For pensions exceeding 4 times the minimum and up to 5 times the minimum (2.626 euros gross), the revaluation will be 85%: approximately 162 euros gross. The other bands:

  • Pensions between 5 and 6 times the minimum (€3.150 gross): 53%;
  • Pensions between 7 and 8 times the minimum (€4.200 gross): 57%;
  • Pensions between 8 and 10 times the minimum (€5.250 gross): 37%;
  • Pensions over 10 times the minimum: 32% 

Furthermore, the minimums for the "over 600" are expected to be raised to around 75 euros per month for 2023 alone and the cut in the revaluation is attenuated.

Social pensions 2023: by how much will they increase?

La social pension 2023 it rises to 414,76 euros per month, which becomes 5.391,88 per year, while the social allowance is 503,27 euros, (6.542,51 per year). The income limits rise to 5.391,88 personal for the social pension (18.577,24 for marital) and 6.542,51 for the social allowance (13.085,02 for marital). 

Finally, the equalization was also applied to pensions and allowances in favor of the mutilated, disabled civilians, blind civilians and deaf-mutes, while the income limits for the right to pensions in favor of the mutilated, totally disabled civilians, blind civilians and deaf-mutes were raised by 5,1%.

Pensions January 2023: payment

For the 2023, the age of access to the old-age pension and social allowance is 67 years. As for i payments pensions 2023, however, will be made on the first bankable day of each month or the following day if it is a public holiday or non-bankable day, with a single payment order. It's an exception January 2023, the month in which the disbursement is made on the second bankable day, i.e. January 3rd.

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