JobatLife continues to become more expensive, but prices in supermarkets are falling less sharply. The inflation of the consumer price index has now fallen to just 0.36 percent, but wages, benefits and pensions will still rise from this month. What will that look like on your pay slip? Jobat.be calculated it.
Why is there wage indexation?
This ensures that your purchasing power does not decrease when goods and services become more expensive. So it is compensation for the higher prices in the supermarket, for example. To be precise: wages follow the figure of the smoothed health index, or the consumer price index without tobacco, alcohol, petrol and diesel. That index has been ‘flattened’ because we look at the average of the last four months.
Despite the lower inflation, the smoothed health index remains higher than two percent. This means that the threshold value of the central index has been exceeded and wages, benefits and pensions are rising.
An extra pay increase on top of the indexation: also in store for you?
When will whose wages increase?
The ‘joint committee’ (PC) to which you fall – which you can find on your payslip – determines when and how your salary is indexed. Each sector chooses how to adjust wages to inflation. For example, the banking sector adjusts wages every two months, while in the construction sector this happens every three months. In many private sectors, wage indexation only takes place once a year.
Bets in the public sector will immediately receive an adjustment in December if the central index is exceeded. The amount of social benefits will already be higher in November.
Civil servant versus employee: who earns the most?
How much will your salary increase?
That depends primarily on how much you currently earn. Since the indexation is a percentage, those who now earn more will earn even more after indexation than someone with a lower gross salary.
Read more: These are the ten best-paid jobs in Belgium.
Furthermore, the percentage is not the same for everyone. Government employees and people who are retired or receive social benefits – such as unemployment or disability benefits – invariably receive a wage indexation of two percent. Flexi wages and wages in the social profit sectors will also increase by two percent in December.
About a million Belgian employees in the private sector will only see their wages increase in January. That increase will not be as large as in January 2023, when wage indexation was no less than 11.08 percent. However, there will be a slight increase of 1.5 percent in January. That is less than the two percent that the public sector receives, as those million private sector employees had to wait less time for their wage increase.
Tip: When your salary is indexed and how much more you will earn, You can calculate this using this tool on the Jobat.be site. We have already looked at some examples…
Are you considering switching to a more enjoyable and/or better-paid job? Create your profile in de Jobat-appreceive smart recommendations, apply effortlessly and compare your wages.
Some practical examples
A salary of 2,500 euros gross
Suppose you work as an employee in joint committee 200 (the service sector), earn 2,500 euros gross monthly, and will soon receive a wage increase of 1.5 percent. Then you will see your wage increase by 37.50 euros. The net amount you have left over depends on many factors. But whether or not you have dependent children, or whether or not you are married or legally cohabiting with someone: the increase remains approximately the same.
In concrete terms: if you are married or legally cohabiting, your net salary will increase, for example, from 1,977 euros to 1,986 euros – an increase of 9 euros. If you are unmarried or actually cohabiting, you will see your wage increase from 1,993 to 2,003 euros – an increase of 10 euros.
A salary of 3,500 euros gross
Let’s simulate the salary for the same person, but with a gross salary that is 1,000 euros more. With an indexation of 1.5 percent, this will give you an extra gross amount of 52.50 euros.
Your net salary, which as a married or legally cohabiting person was 2,295 euros, will increase by 24 euros to 2,319 euros. Actually living together or not married? Then the increase in this simple simulation is also 24 euros: from 2,311 euros to 2,335 euros. Even with one or two dependent children, the increase in your net salary remains 24 euros.
Also read: The average monthly wage in our country is slightly higher than 3,500 euros gross.
A salary of 4,500 euros gross
If you receive a gross salary of 4,500 euros, your payslip will show 4,567.50 euros in the event of an indexation of 1.5 percent from January.
The net increase is less than half: 30 euros. This concerns an increase from 2,735 euros to 2,765 euros for someone who is married or legally cohabiting. An unmarried person or someone who actually lives together can see their net salary increase from 2,743 euros to 2,773 euros.
Curious about the indexation of your wages? You can calculate it quickly and easily using the box below.
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2023-11-08 06:15:00
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