When are Poles most likely to retire? Three dates stand out

March is fast approaching. This is an important month for retirees as their benefits are indexed. This year they will increase by 5.3%, and therefore the minimum pension will be increased from the current PLN 1,878.91 gross to PLN 1,978.49, i.e. by almost PLN 100.

It would not be an exaggeration to say that March is one of the most popular months for seniors. And in what month do Poles most often decide to end their professional activity and thus retire? This was revealed by Bartosz Gaca, director of the pension and disability benefits department at the Social Insurance Institution (ZUS) in an interview with “Fakt”.

When are Poles most likely to retire?

The daily’s interlocutor indicates that there are two such periods a year. – One is February and it is related to retirement before the indexation process is carried out. People who acquire the right to the benefit will have this benefit indexed until the end of February, and then, in April, they will be paid an additional annual benefit, i.e. the so-called – explains Gaca.

The second period is during the holidays. – The second such period is July and August. This moment is also related to the indexation of contributions and initial capital, i.e. the basis for calculating the benefit. Every year in June, ZUS increases contributions and initial capital with an annual indexation. We also have quarterly indexations. Submitting an application for the benefit in the third quarter is related to the application of the indexation index for the first quarter. In recent years, this indicator has been the highest among quarterly indexations – explains the ZUS representative.

Gaca also reveals that it is increasingly common for Poles to not retire immediately after reaching retirement age (60 for women, 65 for men). – More and more often, Poles decide to slightly delay their retirement. It is not always a very long postponement, sometimes by several to a dozen or so months, sometimes by several years. But this positive trend is becoming more and more noticeable – says the director of the pension and disability benefits department at ZUS.