Customers of CaixaBank are gearing up to receive their permanent disability pensions earlier this month.
As part of a regular practice, CaixaBank will advance the payment date for these pensions, assisting its clients in managing their finances more conveniently. This year, payments will be distributed on March 24, 2025, which is a significant move as it allows beneficiaries to access their funds ahead of the typical schedule dictated by Spain’s Social Security, which generally occurs between the 1st and the 4th of each month.
The decision to advance payments is part of CaixaBank’s strategy to provide better service to its customers. Traditionally, many pensioners rely on timely access to funds for essential expenses, such as healthcare or daily living needs. By facilitating this early access to their pensions, CaixaBank reinforces its commitment to customer satisfaction.
In addition to CaixaBank, Banco Santander has also joined this initiative, confirming it will make the pension payments on the same day. This collaboration between major banks aims to enhance the financial management of pensioners, especially in light of the importance of early liquidity.
As a result, pensioners from both banks can now expect their funds to be deposited in their accounts on March 24. This measure not only helps pensioners avoid potential financial strain as they close out the month but also marks a shift towards a more customer-centric approach in the banking industry.
Moreover, the Banco de la Nación has released its own schedule for pension payments for public sector workers and retirees. According to their timetable, those under the ONP (Office of Normalization Previsional) will also receive their pensions this month. Payments are staggered based on the initial letters of the beneficiaries’ last names. For instance, retirees with surnames starting from A-C will receive their pensions on March 7; D-L on March 10; M-Q on March 11; R-Z on March 12. Payments for home delivery will occur between March 14 and March 23.
Alongside public sector retirements, pension payments for the retirees under Law 20530 are scheduled for March 13 onward, marking a wider effort to ensure that beneficiaries receive their payments on time. Educational sector workers, military, and governmental employees will see payments according to their respective schedules, with March 20 and March 21 designated for various departments.
In the Province of Buenos Aires, the Instituto de Prevision Social (IPS) is responsible for granting retirements. The latest announced payment schedule outlines that pensions for those with ID numbers ending in 0, 1, 2, and 3 will receive their benefits on March 28, while those with IDs ending in 4, 5, 6, 7, 8, and 9 will be paid on March 31.
As for pensioners across Spain, March 2025 will see various banks advancing pension payments, including Santander, Ibercaja, Unicaja, CaixaBank, and Bankinter starting March 24. Other banks such as ING, BBVA, and Abanca will be slightly later, with payments scheduled for March 25 and March 27, respectively.
This advancement of pension payments is expected to be due to existing agreements and protocols between banks and social security administrations that streamline the payment processes, ensuring that pensioners receive their much-needed funds in a timely manner. Additionally, there is an increase of 2.8% in pensions, allowing retirees to benefit from an average increase of approximately €40.5 monthly—a welcomed boost for many.
Ultimately, these coordinated efforts by banks and governmental bodies aim to alleviate some of the financial pressures faced by retirees, fostering an environment where they can live with less economic uncertainty and more ease.
