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Christmas is just around the corner and the festive feeling is already spreading. The season brings presents, gatherings with family and friends and plenty of celebrations. But pensioners in Spain have another reason to look forward to the holidays as their Christmas bonus payment offers a much-needed bit of financial relief and helps cover those extra seasonal expenses.

 

That’s not the only good news for retirees either since across Spain, pensions are set to rise in January, although the increase will be smaller than in previous years. The final figures will be confirmed in December, but early estimates suggest an average rise of around 2.6%, which works out at roughly €35 more each month.

 

According to the Treasury, the Christmas bonus is officially paid between the first and fourth of December. In practice, however, most banks prefer to bring the date forward so that pensioners can access the money at the end of November instead.

 

This early payout has become a long-standing tradition. While Social Security releases the funds in early December, banks often credit their customers’ accounts in advance. The same happens with the summer bonus, which is usually paid around the 21st to 25th of June depending on the bank.

 

This year, several banks are expected to release the Christmas bonus even earlier. Bankinter and Unicaja Banco, for instance, have confirmed that on Friday November 21 they will make both the November pension and the Christmas bonus available to their clients.

 

For those whose pensions are paid in 14 instalments per year, the month of the bonus brings a double payment. That means pensioners receive their usual monthly amount plus an additional full month’s payment as a Christmas bonus.

 

Since the exact date can differ depending on the bank, it is worth checking directly with your financial institution to confirm when your pension will be deposited. In June this year, for example, EVO Banco made payments from the 21st onwards, while CaixaBank and Santander began processing theirs from the 24th.

 

 

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