Pensions, how much Irpef you pay in 2024 and when the rates change

In 2024, the rules for calculating Irpef on pensions as well as for all other income received by the pensioner will be revised: rates and tax brackets have in fact been revised by the tax reform implemented with legislative decree no.
216 of 2023 published in the Official Journal on 30 December.
A provision which, although expected, arrived too late to allow the INPS to use the new pension taxation system already for the first months of 2024 and for this reason today the Irpef calculated with the rules in force is still paid on the checks effective in 2023.
In this regard, INPS has already set the date on which the new IRPEF rates will be applied on the payslip: April 2024, when with the payment of the allowance an adjustment will also be made for the previous months with relative recognition of the arrears.
How much Irpef is being paid on pensions On the pension payable in January, as well as the one arriving in February, the INPS as withholding tax withheld the Irpef based on the rates in force in 2023.
In detail, remembering that each rate applies only to the reference income range and not to the entire pension amount, the withholding occurs in compliance with the following percentages: 23% for the first 15 thousand euros of income; 25% for the part between 15,001 and 28 thousand euros of income; 35% for the part between 28,001 and 50 thousand euros; 43% for the part that exceeds 50 thousand euros.
We remind you that the INPS calculation is carried out on the estimate of how much it is believed that will be received during the year, taking into account only the pension paid and not any other income (such as that from work) received by the pensioner.
The complete calculation of the amount due, therefore, can only be carried out during the tax return.
Deductions The IRPEF due is reduced as a result of the deductions.
Those recognized for pension income are the following: income less than 8,500 euros: 1,955 euro deduction, equal to the amount of Irpef due.
This means that those who are below this threshold do not pay Irpef on their pension (no tax area) income between 8,501 and 28 thousand euros: the deduction is calculated using this formula 700+(1,955-700)* 28,000-RC*)/ (28,000-8,500) income between 28,001 and 55 thousand euros: in this case the formula is the following 700*[(50,000-RC*)/(50,000-28,000 *Where RC means personal pension income.
The new Irpef 2024 As anticipated, the one currently applied to pensions is the Irpef calculated on the 2023 rules.
What will change in 2024 is the rate applied in the second bracket which has fallen to 23%, while the deductions do not undergo any changes.
This means that soon the deductions in the payslip will be made according to the following scheme: 23% for the first 28 thousand euros of income; 35% for the part between 28,001 and 50 thousand euros; 43% for the part that exceeds 50 thousand euros.
a net saving of 2% for the part of the pension between 15 thousand and 28 thousand euros.
In the best case scenario, i.e.
for incomes above 28 thousand (but within 50 thousand euros), the result is a net increase of 20 euros per month, 260 euros per year.
For pensions whose annual amount does not exceed 28 thousand euros, however, the increase will be more limited, as specified in the following table: Gross annual pension amount Gross monthly pension amount Monthly Irpef savings between 2023 and 2024 Annual Irpef savings between 2023 and 2024 Up to 15 thousand euros Up to 1,153 euros — — 15,600 1,200 euros 0.92 euros 12 euros 18,200 1,400 euros 4.92 euros 64 euros 20,800 1,600 euros 8.92 euros 116 euros 23,400 1,800 euros 12, 92 euros 168 euros 26,000 2,000 euros 16.92 euros 220 euros 28,000 2,153 euros and above 20 euros 260 euros Since the Irpef on pension changes As made official by the INPS, the procedures for adapting the pension calculation systems will be completed in time to proceed with the application of the new Irpef rates in the April 2024 payslip.
At the same time, the arrears relating to the months of January, February and March will also be paid.
Consequently, those who benefit from the maximum increase should notice a change of around 80 euros net between the March and April pensions.
read also Pensions, new official increase in April 2024 with arrears (the amounts)