News about pensions, June, and the extraordinary payout
As June draws closer, retirees are looking to see when they can access the extraordinary pension from the National Institute of Social Security. With summer comes a healthy balance in many bank accounts as the extra payment is released.
In this period, many seniors await what is one of the most anticipated months. Some banks and savings banks plan to offer an extraordinary salary advance as well this year.
However, the bonus isn’t available in every current account. The elderly and disabled recipients of non-contributory pensions through the Institute for the Elderly and Social Services will also see changes. And this year brings a new development: starting in June, with government approval, a 15 percent increase in the surcharge will be added. The added amount will be received with a rise continuing through the end of the year.
These days pensions will be collected in April: write the dates
Normally, as a general rule, the General Treasury of Social Insurance pays pensions in arrears, which means on the first business day of the following month. The example is July 1. Recently, this period has shifted toward the last week of the month, and some banks may deposit the June supplement even earlier.
Social Security explains how two pensions can be received at once in 2023
This section covers how some retirees can receive two pension streams simultaneously within the year. It emphasizes the scheduling and how banks manage the timing of these payments.
The dates for the June surcharge collection by bank
Social Security has announced that pensions will be collected from June 1, while the TGSS will credit funds to banks in advance from June 25. Some banks will advance the money to allow earlier access for retirees. Some banks may process on the next business day if the 25th falls on a weekend.
- Caixabank, from June 24
- Banco Santander, from June 24
- BBVA, from June 25
- Bankinter, from June 23
- Abanca, from June 27
- Unicaja, from June 24
- Banco Sabadell, from June 24
- Ibercaja, from June 24
- Cajamar, from June 27
- ING, from June 25
- Kutxabank, from June 27
Pension reform: how the surcharge is charged now
In plain terms, this is the new surcharge model. The plan follows a twelve month cycle with fourteen installments. In other words, the income bonus is issued in June and November. If a retiree receives this for the first time, the collection date may shift. When that happens, the financial institution provides the final issue on the last business day of the month, provided there is no weekend or holiday involved.