Pensioners who have not reached the general retirement age will be able to earn more. The amount has changed since Wednesday, June 1 as a result of an increase in the average salary in the country, informs the Social Insurance Institution.
Retirees and disability pensioners can earn extra money, but they must remember about income limits. They concern early retirees, i.e. those who have not reached the retirement age (60 years for a woman and 65 for a man) and disability pensioners. Exceeding the limits may cause the ZUS reduce or suspend the payment of the benefit.
Pensions and disability pensions – income limits
The limits on earning extra benefits change every three months.
In order not to be exposed to a reduction in the old-age or disability pension, the income may not exceed 70%. average monthly salary. From June 1, it is the amount of PLN 4,364.70, previously it was PLN 4,196.60.
The benefit may also be suspended if the overrun is greater than 130%. average salary. From Wednesday, this amount is PLN 8,105.80, and not PLN 7,793.70 as before.
A spokesman for the Social Insurance Institution (ZUS) previously explained that the new threshold amounts of income compared to the previous quarter are higher because the average salary in Poland increased in the first quarter of 2022.
If the income exceeds 70 percent. average monthly salary, but will not be higher than 130 percent. of this remuneration, the benefit will be reduced by the amount of the excess, but not more than by the amount of the maximum reduction.
The maximum reduction amount is PLN 691.94 for old-age and disability pensions due to total inability to work, PLN 518.99 for pensions due to partial inability to work and PLN 588.19 – for survivors’ pensions to which one person is entitled.
Unlimited earning money on your retirement pension
Pensioners who have reached the general retirement age (60 for women, 65 for men) can supplement their pension without any restrictions. The exception to this rule are those retirees for whom the Social Insurance Institution increased the calculated old-age pension to the amount of the minimum benefit, i.e. from March this year to PLN 1,338.44 gross. Then, if the income from work exceeds the amount of the increase to the minimum, the old-age pension will be paid in a lower amount, i.e. without additional payment up to the minimum amount.
Some pensioners can also earn extra money without restrictions. These are people who receive pensions for war invalids, military invalids whose incapacity for work is related to military service. This privilege also applies to survivors’ pensions due to those entitled to these benefits.
People who receive survivors’ benefits, which are more favorable in terms of amounts than the agreed retirement age, can also earn without limitation.
Main photo source: Shutterstock