This is the retirement age in Poland – that’s for sure.  We also have a pension index forecast for 2024 [15.05.2023]

The new retirement age is 2023? The government is quick to put an end to the latest speculation that is part of the pre-election campaign. Most Poles claim that they will continue to work after they reach retirement age, but it is still possible, and not necessary, to work into old age. The first information on the indexation of pensions also appeared in subsequent years.

We already know how much the minimum pension will be in 2023, but also how the pensions of Poles have increased since March this year. In April, pensioners receive pensions along with the “thirteen”, so transfers are higher. In May, the vast majority of seniors will receive a basic benefit, however, it has changed dramatically since May last year. Annual detailed accounts can be viewed in the gallery below.

at a press conference Family Minister Marlena Mallig and President of the Social Insurance Institution, Mrs. Gertrude Oczynska The question was raised when it would be necessary to raise the retirement age due to unfavorable demographic factors. It is recommended to introduce such a solution to Poland on the example of the Organization for Economic Co-operation and Development (OECD).

Referring to the issue, Family Minister Marlena Mallig said so Retiring at the appropriate age should be a choice, not an obligationTherefore, the government has introduced many tools to encourage people to stay longer in the labor market. As you indicated, it is, for example, PIT 0 for seniors.

We have not returned the retirement age (60 years for women and 65 years for men) in order to work on extending it now – the head of the Ministry of Labor and Social Policy stated.

More and more Poles admit that they are unlikely to take advantage of the lower retirement age a few years ago and will continue to work after reaching it. 55% say so. Participants in the Polish labor market index survey conducted by the Personnel Service. This percentage is growing, a year ago these answers were 50 percent.

According to the personnel service “Polish Labor Market Barometer”, every second respondent declares that he will wait before retiring. It also pleases the government, which is extra benefits for workers, although they can already benefit from a pension. The biggest driver of working longer for the majority of people interviewed in the surveys is the increase in future pension for additional years of work.

In 2023, there will be a record indexation of pensions. The Sejm adopted an amendment to the Law on Indexing Pensions, which increased benefits for the elderly by at least PLN 250 from March this year. The minimum pension rose to PLN 1,588.44, which means an increase of 13.8 percent.

Projections for the 2024 Pension Index indicate that seniors can expect an increase in benefits of 10.19%. Next year, that is, in 2025, the indicator will be lower and amount to 5.77%. Expected increases in the coming years will be less than 5%. The inflation rate is expected to decrease.

Watch the show(9 photos)

We carried out calculations to find out how the proposed indicators will affect the payments of pensioners, taking into account the next year. The minimum pension, which is currently a total of PLN 1,588.44, can increase to a total of PLN 1,750.30 from March 1, 2024. See accounts in the gallery above.

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