Como serão os aumentos das pensões em 2024?

How will pension increases be in 2024?

After the resignation of the Prime Minister, António Costa, uncertainty hung over the measures planned in the State Budget for 2024. As for pension increases, it has already been confirmed that they will move forward, but by how much?

15 Dec 20233 min

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Retirees will receive increases in 2024: How much?

With the political crisis the country is facing, pension increases for the next year were at stake. But with the confirmation that the State Budget 2024 will come into effect, pension increases will also move forward.

According to news shared by Notícias ao Minuto, the increases in question "were in doubt", but the uncertainty has already been clarified by the President of the Republic, Marcelo Rebelo de Sousa.

"The increases in pensions 'above inflation', foreseen in the proposal of the State Budget for 2024, came to be in doubt in the hours following the resignation of the prime minister, but the President of the Republic chose to allow the approval of the State Budget, after having met with the Council of State on November 9," it can be read in the news, quoting Deco Proteste.

In 2024, we will observe the following increases: Pensions up to 1,020 euros will have an increase of 6.2%, pensions between 1,020 and 3,061 euros an increase of 5.8% and pensions above 3,061 euros an increase of 5.2%.  

What changes for IAS, minimum wage and IRS next year?  

In addition, it is foreseen that the Indexante dos Apoios Sociais (IAS), the reference value for updating various benefits, such as subsidies, will also increase by 6.2%. This will amount to an additional 30 euros in 2024, increasing from 480.43 euros to 510 euros.

The National Minimum Wage (SMN) will also increase from 760 euros to 820 euros, an increase of 60 euros.  

The IRS will undergo a 3% bracket update, with young people in their first year of work being exempt from the tax in question.

These will be the most significant changes in the appreciation of Portuguese income next year, expected to advance when the State Budget 2024 comes into effect.

Do you want to start saving on your credits and/or insurance? The credit intermediaries and insurance brokers from Poupança no Minuto can help you lower installments, with solutions tailored to your specific situation: Contact us and find out more!

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