Hundreds of thousands of elderly citizens on pensions below €886.4% have heard that they are to receive the ‘largest’ increase in monthly pay-outs next year: 1%. This will actually mean that they lose purchasing power. The increase is not expected to keep up with inflation, forecast to run at 1.7%. Pensions over this amount, but under €2,659.60 will receive an increase of 0.49%, and pensions above that will increase just 0.24%.
