Pensions, increases in 2022. The factors behind the increase in allowances
Pensions, other (small) increases arriving.
INPS has communicated a new recalculation of the pension slips.
The increases, therefore, did not end with March.
The increases in pension payouts, which began in March 2022, derive from more than one factor.
In 2022 we witnessed a change in the income tax brackets. Change that – reads www.trend-online.com – has contributed to a large extent to the increases.
The second increase is instead linked to the rate of inflation. In other words, an attempt was made to adjust the amounts received by Italian pensioners to inflation and the new costs of living.
Retirees, in fact, receive a fixed amount each month and, if inflation rises, it becomes obvious that a recalculation becomes necessary.
The third increase, on the other hand, derives from the “salary quota”. This is a latest increase which, unlike the two previous increases, will not affect all pensioners, but only a specific category.
The first increase relating to pensions in 2022 is that relating to the change in the income tax brackets.
The Draghi government has made cuts to IRPEF since last January, cuts that have affected everyone.
Not only workers, therefore, but also our local pensioners, who thanks to the cut in IRPEF will be able to count on richer pensions.
We have decided to start with this reason for the increase in pensions because it is the reason that will lead to the highest increase.
In fact, there is talk of an increase that can reach, based on the total annual income, even 700 euros.
However, not everyone will be able to count on an increase of this magnitude: it has been estimated that the increase that pensioners will be able to obtain will, on average, be equal to just under 180 euros.
In addition to the change in personal income tax rates, there is a second issue to consider: that of inflation.
INPS deemed it necessary to recalculate the pension slips, in order to adjust the amount to inflation and the rising cost of living.
For this, there is the mechanism of equalization. Which translates into the adjustment of the payslips, precisely, to inflation.
This will be an adjustment that affects all pensions, regardless of income. But the adjustment will depend on the annual income.
Unlike the figures guaranteed by the exchange rate at the IRPEF brackets, the equalization mechanism will not allow for significant increases.
These will be minor increases; which have already started in March, but which seem to be destined to be strengthened in the coming months, starting with April 2022.
The pensions that will benefit most from this second increase are the minimum ones.
It has been estimated that the INPS revaluation of pensions will favor, as it should be, minimum pensions.
If last year the figure provided for those receiving a minimum pension was equal to 515 euros, in fact, to date the amount minimum pension expected is 524 euros.
A similar fate will also affect the social allowance, which will increase from about 460 euros per month to just over 468 euros.
We are obviously talking about a small increase: 9 euros a month more will not change the lives of retirees at all. And a similar argument can be made for the increase in the social allowance.
The last factor that will result in an increase in pensions in 2022 is the salary share.
This third factor of increase will not affect all Italian pensioners.
This is an increase that concerns only the current pensioners who, already in 1996, could count on a quota of contributions regularly paid.
With the transition from pay system to the contributory systemwhich took place in 1996, the Italian pension system has totally changed.
Those who had already accumulated contributions to 1996 will be able to count on this mechanism.
However, in order to be able to count on higher pensions, it will be necessary that the former worker has accumulated at least 18 years of regular contributions to 1996.
In this specific case, the pensioner will be entitled to the double system, contributory and remunerative, and thanks to the different calculation system used (and the contributions paid before 1996), the pensions will be able to have higher amounts.
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