Temporary increase in pensions by 3.57% comes into force today

The temporary 3.57% pension increase announced by the government in April comes into effect this Saturday.

The new update, which follows the increase applied in January, covers disability and old-age pensions under the general social security system and the converged social protection system granted before January 1, 2023, with an increase of 3.57%, calculated on the basis of The amount of the pension in December 2022.

According to the regulation published in Diário da República, for pensions equal to or greater than 291.48 euros and less than or equal to 960.86 euros, the increase cannot be less than 9.93 euros.

For pensions above 960.86 euros and equal to or less than 2882.58 euros, the minimum supplement is 34.30 euros.

In turn, pensions above 2882.58 euros and up to 5765.16 euros will have a supplement, which cannot be less than 102.91 euros.

The Decree also updates the minimum disability and old-age pensions, which now amount to 301.41 euros for general-regime pensioners with less than 15 years of insurance experience.

The Caixa Geral de Aposentação (CGA) pension minimum values ​​are also updated depending on the length of service and amount to 281.68 euros for those who have worked in public administration for five to 12 years.

Survival, blood price and other pensions have also been updated by 3.57%.

The Ordinance also establishes that KGA retirees, as well as employees who are in the reserve and suspended from service “pending retirement or retirement, with the exception of personnel who, during the year preceding any of the above situations, are paid a vacation subsidy. the right to receive the 14th month, paid in July, in an amount equal to the pension received in the previous month.

The Government announced a medium-term increase in pensions on April 17, the day the Stability Program was presented.

As Finance Minister Fernando Medina said at the time, adjusting the pension base to fully apply the renewal formula provided for by law should cost around 1,000 million euros in 2024, that is, taking into account a full year of application.

This year, the pension renewal applied in January was below that which would follow from the formula provided in the law, which takes into account average homeless inflation and gross domestic product (GDP) growth, supplemented by payment of the equivalent of half board.

With this interim increase of 3.57%, the current legal calculation formula will be met, according to the government.