Pensions, increases are coming: +2% from October to 16 million Italians. Here's who it belongs to.
Article Key Points
INPS gives green light to extraordinary (temporary) revaluation of pensions.
The benefit will be available to all pensioners with gross monthly benefits not exceeding €2.692. Also included are disabled civilians.
Civil disabled people and those receiving social security benefits will also benefit from the extraordinary increase of 2% for the months of October, November and December 2022. Other pensioners will receive the increase only if the gross benefit for September 2022 does not exceed €2.692 per month.
This was announced, among other things, by INPS with Circular no. 114/2022 published yesterday in which it explains the transitional revaluation mechanism introduced by Article 21 of Legislative Decree no. 115/2022 (the so-called "aid bis" decree) already anticipated on the pages of this magazine in August. Furthermore, the increase will also be applied to the 13th month (December) in proportion to the thirteenth month installments due.
Inflation Fight
As is known, in an attempt to mitigate the effects of inflation, Legislative Decree no. 115/2022 contains two measures in favor of pensioners:
An advance on the pension revaluation equal to 2% starting from 1 October 2022 if the overall treatment does not exceed €2.692 gross per month (at September 2022 values);
The advance of the 0,2% adjustment to November 1, 2022 (instead of January 1, 2023) because the final inflation in 2021 was equal to + 1,9% instead of the 1,7% provisionally applied by INPS for 2022.
The clarifications concern the first measure as for the other INPS refers to a further document.
Pensions: Who is entitled to increases?
Well, INPS confirms that the measure concerns all holders of pension benefits (direct or indirect) paid by INPS whose amount in September 2022 is not greater than €2.692 gross. Since the cumulative equalization mechanism is recalled, all pension benefits stored in the Central Pension Register (including, therefore, those paid by social security institutions other than INPS) contribute to reaching this figure.
The revaluation will be applied with the same equalization tool currently in force (art. 1, co. 478 of law no. 160/2019) therefore with the progressiveness criteria (100% for localized treatments up to 4 times the Tm; 90% of the share exceeding 4 times the Tm plus 100% of the share up to 4 times the Tm; 75% of the share exceeding 5 times the Tm plus 90% of the share between 4 and 5 times the Tm plus 100% of the share up to 4 times the Tm).
The increase will be due from October to December 2022 and will be identified on the pension pay slip with the heading "Increase DL Aiuti bis". For pensions with annual or semi-annual payment, the increase will be paid with the January 2023 installment. It will also be paid on the thirteenth salary in proportion to the thirteenth salary installments due. Pensioners with benefits between €2.692 and €2.744 will receive a reduced increase up to the aforementioned amount (safeguard clause).
Since the benefit is not exempt from Irpef (unlike the one-off bonus of €200 against the high cost of energy paid in July), the net monthly increases will be limited to between €10 and €30 depending on the class in which the benefit is placed.
The situations are listed in the table
Excluded treatments
Those who are excluded from this are holders of non-social security benefits such as retirement benefits (isolar pension, extraordinary solidarity allowance, social bee, monthly allowance in the expansion contract) and beneficiaries of compensation for the definitive cessation of commercial activity.
It also applies to disabled civilians
Instead, the holders of social benefits and social pensions and disabled civilians will have the increase. In the latter case, the benefit will concern disability pensions (total or partial) which will be integrated from €291,98 to €297,82 per month. Excluded from the extraordinary revaluation are the accompanying allowance, the allowances for the partially or totally blind, the attendance allowance (minors), the communication allowance and the thalassemia allowance.
Transient effect
In any case, the increase will not affect the income limits of income-related benefits (e.g. disability pensions) and from 1 January 2023 it will be reabsorbed during the normal pension renewal operations. It is, in essence, an advance without any beneficial effect in the future (there is no carry-over).
Documents: Inps Circular 114/2022
Article published on 14 October 2022 - 17:00
