Are you working in retirement? View new income limits

From September 2024, new rules regarding additional earnings for people receiving retirement or disability pensions will apply. The Social Insurance Institution (ZUS) has set new income limits, exceeding which may lead to reduction or suspension of benefits. It is worth noting that these changes mainly concern those who have not yet reached the standard retirement age.

Rules for supplementing your pension and pension

People who have reached full retirement age (60 for women and 65 for men) can earn without any restrictions, and additional income does not affect the amount of their benefit. However, the situation is different in the case of people who decided to retire early. Their additional earnings are limited by income limits because they have not yet reached the common retirement age.

Income limits are set quarterly and depend on your average monthly salary. The President of ZUS announces two key thresholds: 70%. and 130 percent average salary. Exceeding the first threshold results in a reduction of the pension, while the second threshold means suspension of the benefit payment.

Current limits from September 2024

From September 1, 2024, people who receive early retirement or disability benefits must take into account new income limits. The limit of PLN 5,626.90 gross (70% of the average salary for the second quarter of 2024) means that any additional earnings above this amount will result in a proportional reduction of the benefit. However, if the income exceeds 130%. average salary, i.e. PLN 10,450.00, the pension payment will be completely suspended.

Reduction and suspension of benefits

If the limit of PLN 5,626.90 is exceeded, the benefit will be proportionally reduced. The maximum amount by which it can be reduced is currently PLN 890.63. Therefore, even if your additional earnings exceed the limit by a larger amount, your pension will be reduced by a maximum of this amount. In turn, if the income exceeds PLN 10,450.00 gross, ZUS suspends the payment of the benefit.

Who does not apply to earning limits?

People who have reached the standard retirement age can earn extra money without any restrictions. However, there are some exceptions – for example, people for whom ZUS increased their pension to the minimum amount (currently PLN 1,780.96 gross). If your additional income exceeds this amount, your benefit may be reduced by the amount of the increase. Income limits also do not apply to persons receiving war, military or family invalidity pensions, especially if the survivor’s pension is higher than the pension for reaching the general retirement age.

People receiving early retirement or disability benefits must regularly monitor changes in income limits, which may have a direct impact on the amount of benefits they receive. New limits will apply from September 2024, and exceeding them may lead to a reduction or suspension of pension payments.