Economy When pensions are collected in May 2023

The time has come to collect the pensions for the month of May 2023

Economy When pensions are collected in May 2023

The time has come to collect the pensions for the month of May 2023. As has been the case since January, the fifth monthly payment of the year incorporates the 8.5% increase, a revaluation based on the interannual CPI proposed by the Government in 2022 and which will be It will apply throughout this fiscal year.

The improvement of the 14 payments of pensioners to combat inflation entails the disappearance of the old paguilla, an extra amount that was injected into the pension item annually to compensate for the loss of purchasing power.

After overcoming the pandemic, the 10 million pensioners return to collect their pensions in arrears, that is, between the 1st and 4th of each month. However, most financial institutions also advance the payment this May so that pensioners receive the payroll in their checking accounts starting this week.

In this May 2023 there are no notable holidays that coincide with the days of payment of the pensions as it happens in other monthly payments. In this way, most banks and savings banks will make the deposits between Tuesday, May 23 and Thursday, May 25.

The temporary differences in income, depending on the banks and savings banks, are usually minimal and are more marked in the event that a holiday occurs in the payment week.

These are the collection dates expected by the main financial entities, according to data from the 65ymás platform:

Likewise, the 15% increase in non-contributory pensions approved in July 2022 will be maintained during the 2023 financial year. These benefits remain as follows:

According to the criteria of The Trust Project