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November 2026 pension payslips: why payments may be lower

Original: cedolino pensione novembre 2026

Italian pensioners are checking their November 2026 pension payslips, as the month's payments can come in lower than usual. The reason is the annual conguaglio: back payments and additional withholdings that accumulate over the year are reconciled in the November instalment, reducing the net amount received. Il Messaggero explains how these deductions and adjustments work and why retirees should expect a smaller payment that month.

Why now: November is when pensioners' annual conguaglio adjustments are applied, so many want to know why their payment is lower.

INPSItalyIl Messaggero

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