Good news for retirees: Additional income will come to their accounts soon
Retirees are watching the calendar with anticipation as June arrives. The National Institute of Social Security (INSS) has indicated that extraordinary pension supplements are being prepared for those who qualify, and many will see extra funds arrive in their bank accounts. As summer unfolds, there is often a noticeable bump in available funds, and this year brings the promise of that boost again for many households.
Like so many others, older adults look forward to one of the year’s most important moments when the supplementary payment lands. Financial institutions, including several banks and savings banks, may offer early salary advances to help retirees manage expenses as the extra amount appears in the balance sheets. This year, there are fresh details on how the extra payments will appear in accounts and how the timing may vary from one institution to another.
However, not all retirees will receive the bonus in their current accounts. People who receive non-contributory pensions, managed by the Institute for the Elderly and Social Services (Imserso), are also included in the plan. A notable change this year is the government-approved increase that will raise the surcharge by 15 percent, resulting in an elevated payment through the end of the year.
Normally, the General Treasury of Social Security (TGSS) handles pension payments, whether contributions are present or not, with the standard practice of dispatching payments on the first business day of the following month. In recent times, that schedule has sometimes shifted toward the last week of the month. Some banks and savings banks, however, have begun depositing the June supplement even earlier, creating a staggered but predictable pattern for many beneficiaries.
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As a general rule, the TGSS processes pension payments in arrears, meaning recipients typically see funds on the first business day of the next month. In practice, the timeline has moved closer to the end of the current month in some cases. Banks may set their own milestones, offering earlier access to June supplements. This flexibility helps retirees manage monthly budgets and plan ahead for expenses that follow the mid-year period.
Official updates show that pension deposits can be scheduled in advance by certain financial institutions. Retirees who rely on these banks should stay informed about the specific dates chosen by their own bank for the early transfer of the June supplement.
Social Security has clarified the approach used to coordinate the timing of these payments, with the aim of ensuring that funds reach accounts smoothly and on time. Some banks act quickly to provide early access to funds, while others adhere to the standard calendar, resulting in a mix of early and on-time deposits depending on the institution.
The dates for this month’s extra payment are typically aligned with each bank’s own processing timeline. Different institutions have announced their schedules, and retirees should consult their bank’s published dates to understand when the funds will be available in their accounts. In many cases, the early deposits begin a few days before the official payment date, with complete loading of the allowance by the end of the month in most scenarios.
- Caixabank, starting June 24.
- Banco Santander, from 24 June.
- BBVA as of June 25.
- Bankinter, as of June 23.
- Abanca, as of June 27.
- Unicaja, from 24 June.
- Banco Sabadell, starting June 24.
- Ibercaja, from the 24th of June.
- Cajamar, starting June 27.
- ING, from 25 June.
- Kutxabank, from 27 June.
Pension reform: How is the surcharge charged now?
The surcharge system is straightforward. It follows a year-long cycle of 12 months and 14 installments, with an income boost added in June and November. For first-time recipients, the payment date may shift. In such cases, the financial institution issues the first installment on the last business day of the month, provided it is not a weekend or holiday. This scheduling helps ensure that retirees receive the extra support in a timely manner while maintaining consistency with banking practices.