When is the pension collected in May 2023? These are the dates of each bank

2023-05-25 09:37:00

• The banking entities advance the payments of benefits and retirement subsidies a few days

The Social Security pay every month 9.7 million pensions contributions throughout Spain. Some payrolls that are the livelihood of retirees and on some occasions -especially in times of crisis- also of their children and grandchildren. The State recognizes and pays these benefits or subsidies after decades of contributions, but it is the banking entities that pay them each month to pensioners.

Each bank has its own payment dates, although they usually converge between the days 23 and 25 of each month, depending on whether there are holidays or non-working days in between.

Sources consulted from Santander Bank and Caixabank They explain that these banking entities will proceed to pay the pensions for the month of May between the 24th and 25th of the same month. In recent years it has become a common practice for banks to advance payments a few days before the end of the month, in order to expedite them and so that pensioners can dispose of their money beforehand.

This practice it was consolidated with the covid to minimize physical trips to offices and thus reduce possible infections. Some banks in previous dates have come to advance payments until the 21st or 22nd of the month, this already depends on the organization of each entity and the calendar and its weekends.

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In the cases of Abanca, BBVA, Banco Sabadell, Ibercaja, Unicaja, ING or Evo Banco, the payment will also be made before the date set. These banks have confirmed that They will make the payment on May 25one day after Santander and Caixabank.

The collection dates they can change in the event that the pensioner is ‘newcomer’ and collect your benefit from Social Security for the first time. In this case, the payment date changes and, regardless of the bank to which the pensioner belongs, the first payment will be received on the last business day of the month, as long as it is not a weekend or coincides with a national holiday.