Thirteenth arriving for 35 million Italians

Among employees and pensioners, 40.7 billion is the total amount of the 13th monthly payments that will be paid: data from the CGIA Research Office

Among employees and pensioners they are 35 million Italians will receive their thirteenth month’s salary from next week until Christmas Eve. 40.7 billion euros will end up in the wallets of these people. The tax authorities will also be ‘celebrating’ as they will collect 13.2 billion euros through the Irpef withholding tax. Therefore, the Christmas bonus will cost public/private businesses/companies and INPS, net of social security contributions, 53.9 billion euros. The calculations were done by the CGIA Research Office.

Compared to last year, the the overall economic volume of the thirteenth payments that will be paid to Italians in the coming weeks has increased by 7 billion. What are the reasons? First of all because compared to 2022 the number of employees in the country has increased by almost 400 thousand units; after which, it should be remembered that the wage bill has also grown compared to last year and this is largely attributable to the fact that some important employment contracts have been renewed. In the first half of 2023 compared to the same period of 2022, in fact, the increase was 5 percent.

Furthermore the cut in the tax wedge for gross annual wages of less than 35 thousand euros introduced by the Draghi government and also confirmed for next year by the executive led by Meloni, has a limited effect on thirteenths, to the extent of 2 percentage points, provided that the thirteenth monthly payment does not exceed the amount of 2,692 euros, raised to 3 percentage points if the additional monthly payment is less than 1,923 euros. Finally, of the 35 million income earners, 16.1 million are pensioners and 18.9 million are employees

Between paying the electricity and gas bills and the mortgage repayment, This year too, there won’t be much money allocated to Christmas shopping. Given the consumption trend recorded in the first part of the year, it is estimated that the overall amount of spending on gifts will remain almost the same as in 2022, i.e. between 7 and 7.5 billion euros, observes the Research Office of the CGIA. An amount which, however, has halved compared to 15 years ago. How come? Firstly because many Italians, taking advantage of Black Friday, increasingly bring forward the purchase of gifts to put under the tree to November. Secondly, because in recent years families have decreased the budget allocated to “accessory” expenses and this has led to a consequent decline in the propensity to give gifts during the Christmas period.

The highest number of recipients in Milan

At a geographical level, the province with the highest number of beneficiaries of the thirteenth month’s salary is Milan: between employees and pensioners, the people affected will be 2.91 million. Followed by the almost 2.64 million income earners present in Rome, 1.38 million residents in Turin and 1.35 million present in Naples. The areas least affected, also because they are demographically smaller than the others, are the approximately 72,500 residents in Vibo Valentia, the almost 70 thousand located in Enna and the 42,800 who live in Isernia.

The 14th is also coming for 8 million

Furthermore, there are between 7.5 and 8 million employees in the private sector who benefit not only from the thirteenth salary but also from the fourteenth salary. This is the estimate of the CGIA Research Office. The same is paid in the month of July. The main national employment contracts that provide for this additional monthly salary are: agriculture, food, road transport, commerce/tourism and the cleaning/multiservice sector.

The fourteenth is also due to pensioners, provided they do not receive welfare benefits such as civil disabilities, social allowances, INAIL incomes and non-INPS treatments. To receive this check the recipient must be 64 years of age, the pensioner’s personal income is also considered (therefore not accumulating that of the spouse) and the years of contributions paid before retirement. Two different income brackets are considered, determined on the basis of the minimum monthly payment which, in 2023, amounts to 563.74 euros.