Bank Pensioners Set to Receive October Bonus: What You Need to Know
Observador•1 month ago•
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Bank Pensioners Set to Receive October Bonus: What You Need to Know

Economy
pensions
banking
economy
portugal
socialsecurity
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Summary:

  • Bank pensioners will receive a pension supplement in October.

  • €200, €150, and €100 bonuses based on pension amounts.

  • Previously, bank pensioners were excluded from the half pension bonus.

  • The government negotiated to ensure bank pensioners receive equal treatment.

  • UGT unions are advocating for proper legislation to protect bank pensioners.

Bank Pensioners to Receive Bonus in October

Eligible bank pensioners will receive the pension supplement announced by the Prime Minister during the Festa do Pontal, with payments scheduled for October, aligning with other pensioners.

The Ministry of Social Security confirmed this, stating: "Yes, they will also be included and the extraordinary supplement will also be paid in October." The supplement amounts are as follows:

  • €200 for pensions up to the IAS (€509.26)
  • €150 for pensions between €509.26 and €1,018.52
  • €100 for pensions between €1,018.62 and €1,527.78

Initially, bank pensioners were excluded from the previous government's exceptional payment, known as the half pension bonus, which was disbursed to most eligible pensioners in October 2022. The current government, led by AntĂłnio Costa, negotiated with unions and the Portuguese Banking Association to ensure that bank pensioners also receive this payment.

The agreement stipulates that pension funds will advance the funds to retirees, later reimbursed by the state. The amount equivalent to the half pension will have a €125 support deducted, similar to what was provided to the rest of the eligible population.

This time, the Ministry assures that payments will occur in October, though details on the method of distribution remain unclear. It is noted that over half of the eligible pensioners will receive €200. The payment will be issued per pensioner, not per pension, which may lead to exclusions for those with multiple pensions exceeding the limit. The taxation of the supplement has not yet been clarified by the Ministry of Social Security or the Ministry of Finance.

UGT unions in the sector have urged the government to ensure that bank pensioners are not overlooked in this payment process. They stated, "To prevent a repeat of the previous situation and to ensure proper legislation, MAIS, SBN, and SBC have already taken steps with the government to ensure that bank retirees are treated equally to others."

Text updated with a statement from UGT sent to newsrooms after the publication of this article.

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