Saturday, February 24

How is January pay calculated?

This Thursday started the payment of pension payments corresponding to the month of January by some banks to pensioners who are entitled to receive this extra pay.

An amount that not all financial institutions enter at the same time: in fact, there are banks that will not deliver that money to their clients until this Tuesday.


Many beneficiaries of this second benefit wonder exactly how much are they going to charge, since it is not the same amount that they receive with the usual pension, but something less.

It must be remembered that this payment is delivered by the variation of the inflation of the Consumer Price Index (CPI), to guarantee the purchasing power of pensioners.

But exactly how much will each Spanish retiree earn?

To find out, you have to three relatively simple mathematical operations. The first is to take the figure of what has been charged during a month of 2021.

14 paid

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When you have it, it is multiplied by 14 you pay, to know how much has been collected throughout the year. And, once that data is known, you have to multiply the result by 1,6 -which is the variation of the Consumer Price Index, that is, the difference between the expected inflation for 2021, which was 0.9%, and the actual increase in prices, which has been 2.5%- and the result, divide it by 100. With this you will know exactly the value of extra pension payment what will be received.

That is, if, for example, I know if I receive the maximum pension of 2,707.49 euros per month, I receive 37,904.86 euros per year. Multiplying that amount by 1.6, the result is 60,647.776 euros, which divided by 100 gives an extraordinary payment of 606.48 euros.