The payment of pensions is ahead of other benefits, including unemployment benefits, which are accrued at the beginning of the next month. With over 9 million pensioners in Spain, many are wondering ifWhen is the pension calculated in May 2023?

In 2023, old-age pensions in Spain increased by 8.5%, an increase that will be reflected again in the payment for this month of May. The body responsible for the payment of pensions is Social Security.

However, the money does not come directly from the subject, but is previously transferred to banks, which will be responsible for crediting them to the recipient’s account. Therefore, the dates pension payment may vary.

Date of receipt of pension in May 2023

As a general rule, pension income Runs from the 23rd to the 25th of each month.unless it is a weekend or holiday. Because in May 2023 these days Tuesday, Wednesday and Thursdaythere will be no problems.

These approximate collection dates pensions established by the main banking institutions:

  • Abanka: Thursday, May 25th.
  • Sabadell Bank: Thursday, May 25th.
  • Santander Bank: Thursday, May 25th.
  • bankinter: Tuesday, 23 May.
  • BBVA: Thursday, May 25th.
  • CaixaBank: Tuesday, 24 May.
  • Bench EVO: Friday, May 26th.
  • Iberian: Thursday, May 25th.
  • ENG: Thursday, May 25th.
  • pibank: Thursday, June 1st.
  • unicaja: Thursday, May 25th.

This May 2023 does not have a payout holiday, so it is scheduled between Tuesday, May 23rd and Thursday, May 25th. In case of doubt, it is recommended to consult with the bank where the pension is received.

Gains and losses report

The main question for thousands of retirees every year is whether they have to file income tax returns. Pensions are considered income from work, so they are subject to the same taxation procedure as salaries, subject to the personal income tax law, like other income.

Liberated Limit declare your income are 22,000 euro gross per year. However, this minimum can be reduced to 14,000 euros if the income comes from two payers.

Therefore, not all pensioners should submit a certificate of income, but only those who exceed the established limit.

Average pension in 2023

In the month of May, the measure annualized CPI revaluation implemented by the Government in 2022 in order to combat inflation.

  • maximum pensions: €3,058.8 per month in 14 installments, i.e. €240 more than in 2022.
  • Minimum retirement pensions: €783, additional €61 per month if you don’t have a spouse. And €966 per month for those with a dependent spouse, which means €76 more in each income.
  • widow’s pension: 846 euros on average, 66 euros more per month.
  • orphan’s pensionA: an average of 462 euros per month.
  • Family pensionsA: 694 euros per month.

knowing When is the pension calculated in May 2023it remains only to be attentive to which bank will be the one who makes the contribution in each case.