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ZUS. Some retirees and pensioners must report their income. [TERMIN]

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Pensioners and people receiving early retirement have the last hours to inform the Social Insurance Institution about additional income achieved in 2023. The deadline for submitting this data is Thursday, February 29. As explained by ZUS, information on income is needed to determine whether benefits were paid in the correct amount.

ZUS reminded in an entry on the X website (formerly Twitter) that only until the end of Thursday, people who received the previous retirement or pension and earned additional benefits last year, they should inform ZUS about the additional income they achieved in 2023. This includes last year’s remuneration under an employment contract, mandate contract or income from business activity.

ZUS explains

The company explained that information on income is needed so that ZUS can determine whether it paid the benefit in the correct amount.

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“Pensioners and early retirees who have not reached the standard retirement age (60 years for women and 65 years for men) are subject to earnings limits. Therefore, these people are obliged to inform ZUS by the end of February about the additional income they achieved in 2023. ” – recalled.

Earning limits change every three months and their amount depends on the average wage in the economy. If the revenue exceeds certain thresholds – 70%. and 130 percent average monthly salary, ZUS may reduce or suspend the benefit paid.

Read also: Higher limits for pensioners earning extra money. ZUS provides the amounts

Based on the submitted documents, the revenue will be compared with the limit revenue amounts for 2023 or the revenue amounts for individual months. “Even if the limit was exceeded in some months and not reached in others, the annual settlement may not result in any financial consequences,” ZUS noted.

Exceptions for retirees and pensioners

Importantly, as a rule, retirees who have reached the standard retirement age can earn extra money without any restrictions and do not have to inform ZUS about their earnings. However, people who reached retirement age during the previous year must settle their earnings with ZUS in the months before reaching retirement age.

There are more exceptions for people who do not have to settle income. “The limits on earning extra money do not apply to people receiving a survivor’s pension, which is higher – and therefore more favorable – than the established pension for reaching the standard retirement age. People who receive a partial pension, a war invalidity pension or a disabled person’s pension also do not have to worry about the amount of income. military whose incapacity for work is related to military service, and persons who receive a survivor’s pension after such a disability,” we read in the ZUS announcement.

Additionally, secondary school students and students who are under 26 years of age but receive a survivor’s pension and are employed under a mandate contract or an agency contract do not have to submit information on earnings. As added, the exception are students receiving social pensions.

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