As of January 1, 2023, pensioners will receive more than the expected amount. Data released by INE forces the Government to redo accounts.
When presenting the State Budget for 2023 (OE2023), the Government announced increases in pensions between 3.53% and 4.43%. At the time, the figures presented by the Government were as follows:
- Pensions up to 2x IAS would increase by 4.43%;
- From 2x IAS to 6xIAS, pensions would increase by 4.07%;
- More than 6x IAS: 3.53%.
However, the Executive led by António Costa had to revise these figures upwards because of the final inflation figure for November. In other words, the average inflation of the last 12 months without housing, released by the National Institute of Statistics (INE) at the end of November, was higher than that forecast by the Government, which forced a redoing of the accounts.
Pensions increase more than expected by the Government
So, from January 1, 2023pensions will rise by around four tenths, moving to:
- Pensions up to 2x IAS: increase by 4.83%;
- From 2x IAS to 6xIAS, pensions increase by 4.49%;
- More than 6x IAS: 3.89%.
In practical terms, these increases will give pensioners up to around 24 euros more than the figures initially estimated by the Government.
IAS also increases in 2023
It should be remembered that, in the OE2023 proposal, it was foreseen that the Social Support Index (IAS) would be updated by 8% in 2023. Of the 443.20 euros registered in 2022, the value of the IAS would increase to 478.66 euros in 2023.
However, due to the increase in inflation, the value of the IAS will increase by 8.4%, rising to 480.43 euros from January. This means that the limits and values of some social benefits also rise, but not only. See in this article the impact that the IAS increase will have on your life next year.