This week the extra summer pay will begin to be paid to pensioners, the first of the two extraordinary payments received throughout the year by the vast majority of people who have one of the more than 9.9 million contributory pensions that are They pay month to month.
Social Security is in charge of managing the extraordinary pension payments, since in practice they are considered part of the annual amount of the pension (whether retirement, widowhood, permanent disability). The agency explains on its website that most of these pensions are paid, therefore, in 14 monthly installments. One of the two extra payments is the one corresponding to the month of June, so it is now when it will be paid, in arrears.
However, not all pensioners will see the amount of the extra summer pay in their bank accounts. The Social Security that pensioners who receive “pensions derived from work accidents and occupational diseases” will not have extra summer pay, since their pensions are paid only in 12 installments.
These pensioners will not receive extra pay, but that does not mean that they receive less pension. The reason is that the mode of payment of their benefits is in 12 monthly installments and not in 14, that is, they have the extra payments (both summer and Christmas) prorated, as happens in the cases of workers who , by agreement or contract, have stipulated the same with their salary.
For this reason, although in this month of June they only receive a monthly payment of their pension (pensioners who have extra pay see their pension doubled), throughout the year their monthly benefits will be of a greater amount, since those amounts corresponding to what which would be the extra pay they would receive if they were holders of another type of benefit.
Although they have prorated payments, there is an accrual period for these payments, as explained by Social Security. The period to which a person who begins to collect a pension once that period has begun is entitled to one-sixth per full month.
-The extra summer pay accrues from December 1 to May 30.
-The extra Christmas pay is accrued from June 1 to November 30.
When is extra summer pay collected?
Pensioners who do receive the extra pay “that is, those who do not receive pensions resulting from work accidents or professional illness” will begin to collect the extra pay this week, since they will be paid from June 23 to 24 (on June 25 is Saturday, not a business day), depending on the bank in which the pension is domiciled.
This is due to the fact that, after the coronavirus pandemic, numerous banking entities advanced the payment of pensions a few days to give an economic boost to the most vulnerable groups. That is why in some cases pensions are collected between those days and not between the first business day of the month and the fourth calendar day, as stipulated by the regulations.
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