Will there be record increases in pensions in 2023? According to forecasts, they will amount to even PLN 300. “And what will it change?”

Inflation is growing at an alarming rate, which is reflected in the pockets of millions of Poles. Seniors can attest to that. However, these will soon face an increase in pensions in 2023. How much will it be?

Revalorization of pensions 2023. The table shows how seniors’ benefits may increase

It will be introduced next year. Seniors with benefits up to PLN 1,850 gross will receive higher pensions by PLN 250 gross, and a percentage ratio will be applied to the remaining ones. How much will it be? According to initial assumptions, 13.8 percent, which in practice would translate into benefits as follows:

• gross pension currently PLN 2,000; net pension currently PLN 1,820; net old-age pension after indexation PLN 2,071.16;
• gross pension currently PLN 2,500; net pension currently PLN 2,275; net old-age pension after indexation PLN 2,547.55;
• gross pension currently PLN 3,000; net pension currently PLN 2,670; net old-age pension after indexation PLN 2,997.06;
• gross pension currently PLN 4,000; net pension currently PLN 3,460; net old-age pension after indexation PLN 3,896.08.

Recent reports from “Fact” indicate, however, that the ratio may be much higher due to rising inflation. The daily reported that a 15% increase in benefits is more likely. Thus, the average pension in Poland (PLN 2,600 gross) would increase by PLN 308. Although it would be a record increase, as we read in the comments under the article on the portal, not everyone is delighted with it:

And what will it change? in a week these PLN 300 will be worth PLN 30, prices are rising rapidly.

It is not their merit that pensioners receive such a high valorisation. It’s their fault that it needs to be valued at all.

Food has gone up an average of 30%, and they’ll give you a 15% raise. And how can you not enjoy it?

Pension recalculation after the age of 65. In what cases can it be used?

For some seniors, there is also a chance for a higher benefit. The current life expectancy tables will be valid until March 31, 2023. It is possible to submit an application once a year in the following cases:

• after granting the benefit, the senior worked or paid social security contributions,
• when submitting the application for the benefit, the senior did not have all the documents for the insurance periods that could be taken into account when calculating the benefit,
• the senior can document earnings for the years before the year of retirement or disability, or earnings that were earned after the granting of the benefit.