The 2024 Budget includes an €8 weekly pension increase, totaling €416 annually with the cost-of-living adjustment, benefiting over 100,000 pensioners—including retirees, people with disabilities, widows, and other eligible recipients.
This increase underscores the government’s commitment to placing pensioners at the forefront of social spending.
In addition, pensioners born before 1962 will see adjustments aimed at closing the gap in Maximum Pensionable Income, a disparity originating from the 2006 reform.
This measure will affect approximately 26,000 individuals whose notional working salary would exceed the current Maximum Pensionable Income of €23,500, promoting greater pension equality among generations.
Since 2013, regular annual increases have brought average annual pensions to €3,583, equivalent to almost €70 per week—significantly shortening the time it takes pensioners today to receive what they once did in a full year.
Further tax exemptions for pensioners over 61 ensure these increases remain within tax-free thresholds, while widows continue to benefit from full exemptions introduced this year.
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