Social Security distributed 7.6 billion euros among 11.8 million pensioners in January
This amount already included the new developments that were approved the previous month, but this February there will be changes with respect to the day pensioners will receive their money. This depends on each bank and its commercial policy.
Banks can advance or delay the payment of pensions according to the Social Security regulations
According to the Social Security payment regulations, pensions “must be in the beneficiary’s account or at their disposal at the financial institution on the first working day of the month in which the payment is made”. In addition, this body establishes that the 4th is the maximum deadline for making the payment effective.
However, some banks choose to advance the payment of pensions to those customers who have them domiciled, as a loyalty measure. These banks already have the necessary information for each pensioner and can therefore anticipate the amounts without having to wait for the first working days of each month.
This February, the day you will receive your pension depends on the bank you have
This February, the 24th and 25th are weekends, and for this reason there are banks that have decided to advance or delay the payment of pensions. Below we show you the day you will collect your pension according to the bank you have.
The banks that will advance the payment the most are Bankinter and Caja de Ingenieros
These two banks will pay the pensions on Thursday, February 22, before any other bank. This is an advantage for your customers, who will be able to get their money sooner.
The banks that will advance payment a day earlier than usual are Santander, Ibercaja and Cajamar
These three banks will pay the pensions on Friday, February 23, a day earlier than they usually do. So your customers will be able to enjoy their money before the weekend.
The bank that will maintain its regular schedule is CaixaBank
CaixaBank will continue paying pensions on Saturday 24 February, as it has been doing for years. This bank does not change its payment schedule, not even when the 24th is a holiday.
The bank that will pay the pension on a public holiday is ING
ING is the only bank that will pay the pension on Sunday 25 February, despite it being a non-working day. This bank has a different policy than the rest, as it pays pensions on the 25th of every month, regardless of whether it is a holiday or not.
The banks that will delay payment until Monday 26 February are Unicaja, Abanca, Kutxabank and BBVA
These four banks will not advance the payment of pensions, nor will they do so on public holidays. They will do this on Monday 26 February, the following week at most banks. These banks strictly follow Social Security regulations and pay pensions on the first working day of each month.
Abanca has an exception, as it usually pays pensions on the 25th, but only if a number of requirements are met. If they are not met, the money will be paid at the end of the month. People who do not meet these requirements will be paid on February 28, as the 29th is a leap year.
