Edition 1451
25 November 2017
Edition: 1451

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Extraordinary increase for low pensions takes effect, benefiting 2m

by TPN/ Lusa, in News · 11-08-2017 15:12:00 · 0 Comments

An extraordinary increase in payments to retired people in Portugal with monthly pensions of less than €631.98 began to be implemented on Thursday, with those pensioners who saw no increase at all in their pensions between 2011 and 2015 to receive as much as €10 more from now on.

Extraordinary increase for low pensions takes effect, benefiting 2m

 

Pensioners in the regular social security system - about 70% of the total number benefiting from an increase - who receive their stipend by bank transfer, are to start receiving the higher pensions on Thursday. In the case of pensioners who are paid by postal order and former public sector employees, they to receive their increased pensions on 18 August.

 

The government estimates that, in all, some two million people are covered by this extraordinary increase.

 

The size of the increases for pensioners will depend on whether their pensions were increased between 2011 and 2015; those who did enjoy an increase are from now on to receive €6 more than they did in December 2016, as opposed to €10 more. In both cases, the amount of any annual increase that already took effect in January this year will be subtracted from the€6 or €10, respectively.

 

The statute regulating the extraordinary updating of the lowest pensions - a measure included in the 2017 state budget, was approved by the cabinet on 29 June and promulgated by the president on 11 July.

 

The total cost of the measure is projected to be €194 million.

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Edition 1451
25 November 2017
Edition: 1451

Read this week's issue online exactly as it appears in print.

Twitter

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