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Record indexation of pensions in 2023. Here you can check how your pension will grow – calculations [25.12.2022]

Record indexation of pensions in 2023. Here you can check how your pension will grow – calculations [25.12.2022]

Record indexation of pensions in 2023. Here you can check how your pension will grow – calculations [25.12.2022]

In March 2023, the indexation of pensions and pensions will be carried out, which will be record-breaking due to the very high inflation. The assumed indexation index will amount to as much as 113.8 percent. In addition, persons with lower pensions will be able to count on quota indexation (the guaranteed increase will amount to PLN 250 gross). How much will your pension increase in March? Sample calculations can be found in the gallery.

According to the Ministry of Family and Social Policy, the lowest old-age pension, disability pension, survivor’s pension and social pension will increase in 2023 up to PLN 1,588.44 (currently PLN 1,338.44). The valorization index is to amount to as much as 113.8 percent. For comparison, the indexation in 2022 was only 107 percent.

The reason for such a high rate is very high inflation, which has been in Poland for months at a two-digit level. The government decided that in March 2023 an amount-percentage indexation would be carried out. This means that people receiving the lowest pensions will have a guaranteed increase (it was agreed that it will be PLN 250).

See calculations for exemplary amounts – from the minimum pension to benefits at the level of PLN 7,500 gross.

In order to finally answer the question of what the indexation index will be in 2023, we need to know all the macroeconomic data needed to calculate it (they will be known at the beginning of next year). However, the government estimates, based on forecasts, that next year, the indexation rate will be 113.8 percent. (this is the indicator we adopted when calculating the sample pensions in the gallery).

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