Le March 2024 pensions they will see changes because of the new Irpef tax bracket system, which comes into force earlier than expected, already in March instead of April. This will affect the amounts of payments for the third month of the year, as anticipated by INPS note. Furthermore, the month of March also brings with it the balance related to recalculation of Irpef on pension accruals of January e February 2024, adding a further element of variation to the amounts paid. But let's see them in detail news for March pensions and how these will affect the overall check amount.
When is the March pension paid?
March pensions will be credited on Friday 1 March 2024 for those who receive by bank transfer or other means of credit. Holders of debit cards associated with accounts/books or Postepay Evolution will therefore be able to withdraw cash from Postamat ATMs, without going to the counter. Those who prefer to withdraw money in cash at post office counters can avoid respecting the alphabetical calendar of previous months, but it is advisable not to go to the post office on the first day.
New Irpef rates: how will pensions change in March?
March pensions will see the application of new Irpef rates introduced by legislative decree 216/2023. These are:
- 23% for incomes up to 28 thousand euros
- 35% for incomes between 28 thousand and 50 thousand euros
- 43% for incomes over 50 thousand euros
With the launch of the new Irpef rates as early as March, the amounts relating to the payments for January and February 2024 will also be adjusted to recover the differences. Here, therefore, the amounts relating to these two installments will also be adjusted into next month's pension accrual.
Withholdings on pensions March 2024
Le withheld on March payments will concern:
- end-of-year adjustment 2023;
- regional and municipal surcharges;
- taxation 2024.
INPS has carried out a recalculation of the tax withholdings for the year 2023, based only on pension benefits paid. If the withholdings made in 2023 were less than what was due, the recovery takes place on the payments of January and February 2024. In the event that the installments of these months are not sufficient to fully cover the debt, the withholdings will continue on the subsequent monthly instalments, until the debt is repaid.
Le additional municipal income tax may vary in some municipalities, with some cities like Palermo restaurants. e Napoli who increased the rates. In Naples the municipal Irpef rate goes from 0,9% to 1%, with a cut to pensions of between 15 and 50 euros, depending on the amounts. While a Roma, the rate applied to the pension is 0,9%, except for checks of less than 12 thousand euros which are exempt. Therefore, 0,27% will be deducted from the March payslip. For example, on a gross pension of 2.000 euros, this corresponds to approximately 5,40 euros of withholding. Regional and municipal surtaxes will come recovered in 11 installments from January to November of the following year.
