Pensions will increase twice in 2024 – these are the forecasts. One pension indexation will traditionally take place in March 2024, and the second one will probably take place in September. What changes in pensions does the future government plan for 2024? How much will seniors’ benefits increase?
- Pension indexation in March 2024
- How much will pensions increase from March 2024? Table
- Second pension indexation 2024 – how much will it be?
Money is not everything Waldemar Buda
In 2024, there may be significant changes in pensions. Pensioners and people receiving pre-retirement benefits can count on more money next year from March, but it is understandable that the increase will be a consequence of the annual indexation of pensions. It promises to be complete new in pensions – the second indexation, which would be carried out in September or October 2024. What kind of money will it be? And under what conditions will pensioners receive them?
Pension indexation in March 2024
Pension indexation is carried out ex officio once a year in March on the basis of the Act of December 17, 1998 on pensions and annuities from the Social Insurance Fund. Pensions and annuities increase by a set percentage – the inflation rate. In the budget presented for 2024 the pension indexation rate is to be 112.3%. It means that pensions will increase by 12.3% from March 1, 2024. gross.
Let us also recall that this year the indexation of pensions was record-breaking – benefits increased by 14.8%, which was also the result of record inflation.
How much will pensions increase from March 2024? Table
If the pension indexation rate is actually 112.3% next year, pensions after March 1, 2024 will be multiplied by 1.123. This means that the lowest pension, which is currently PLN 1,588.44, will increase to PLN 1,783.82, i.e. by almost PLN 200.
How will pensions increase after the March indexation in 2024? We provide sample amounts
|pension amount (gross amount)||pension amount after indexation 2024|
|PLN 2,500||PLN 2,807.50|
|PLN 3,000||PLN 3,369|
|PLN 3,500||PLN 3,930.50|
|PLN 4,000||PLN 4,492|
|PLN 5,000||PLN 5,615|
|5,500 PLN||PLN 6,176.50|
|PLN 6,000||PLN 6,738|
|PLN 6,500||PLN 7,299.50|
Second pension indexation 2024 – how much will it be?
The second indexation of pensions is to be new. The details of the changes are not yet known, but the Civic Coalition announced that benefits will also be indexed in September or October, provided that inflation from January 2024 to June 2024 exceeds 5%. Benefits are then to increase by the inflation rate or only by the surplus exceeding this 5%.
Another variant of indexation – quota – is also being considered. In this case, all pensioners would receive the same increase in benefits at a fixed amount.
It is worth mentioning that these are probably the last such high indexation of benefits. Forecasts predict that in 2025 the indexation of pensions will amount to just over 5.77 percent, and in 2026 4.15 percent. So everything indicates that double indexation will only take place in 2024 and 2025. In 2026, inflation is not to exceed 5%, so there will be no second indexation.