The pension table from March 2024 shows how much money the elderly will receive after the indexation of pensions. Based on the provisions of the Budget Law, we can already calculate the indexation size of pensions in 2024. Calculations of specific amounts can be found in the exposition. Check how your pension will grow in March 2024.
The calculations are forecasts for the pension index in 2024. The final macroeconomic data needed to calculate it will be provided by the Social Insurance Institution in February – then we will find out if the index of 12.3 percent will be preserved.
- The Council of Ministers presented to the Social Dialogue Council a proposal to increase the pension index in 2024.
- Pensions and disability pensions will increase by at least 12.3 percent.
- The expected cost of linking retirement, disability and other benefits, which is increased by indexing old-age and disability pensions, should be at least PLN 43.6 billion.
- Old age and disability pensions are subject to annual indexation from March 1.
However, the inflation expectations adopted in the budget law largely coincide with other analyses. It is also worth noting that average wages in Poland did not rise in real terms in the previous year, so the second factor needed to calculate the indexation index was not taken into account. What it will be like in 2023 – we’ll find out a few weeks before indexing.
Based on the pension inflation rate, we can calculate what the value of pensions might look like in 2024. It will be held as always in March. Calculations of amounts from the minimum pension and above can be found in our gallery:
It’s a separate issue The minimum pension in 2024. Currently, the total amount is PLN 1588.44. If the above-mentioned 12.3 percent increase is assumed, the pension will increase to PLN 1,783.84 (that is, less than PLN 200). However, we must remember that in previous years The government used the percentage quota method to tie pensions to a guaranteed minimum increase.
Such a system is beneficial for retirees who receive the least benefits. Let us remind you that in March 2023 the guaranteed amount of increase was PLN 250. Which option will the government choose? Maybe we’ll find out in a few months.
This year, retirees can count on another cash injection. In the near future, the fourteenth pension will be paid, which – like the “thirteenth” – is exactly the same as the minimum pension in a given year. The law states that this benefit applies annually. However, from the 14th pension, you will have to pay tax and a health contribution, Not everyone will get the full benefit.
The law stated that as in previous years, the 14th pension will be disbursed on the basis of the income standard. Retirees entitled to a “normal” pension totaling PLN 2,900 will receive the full fourteen. For seniors with a higher pension, the “PLN for PLN” principle will apply.
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