Saturday, January 22

RETIREMENT REQUIREMENTS | Who will not be able to retire before the age of 66?

The desire to achieve retirement can make the last years of the Laboral life of a worker are made uphill. Reach the retirement age in Spain to enjoy free time is the desire of many workers, but turning 65 is not synonymous with becoming retired. There are many workers who will not be able to retire until at least they are 66 years old. This is due to one of the fundamental requirements for retirement: the years listed. Many people have a period of sufficient quote for collect the pension but, they do not reach the necessary years to enjoy the early retirement, both voluntarily and by termination or dismissal from work.

To access the retirement pension It is necessary, since 2013, to have reached 67 years of age or 65 if the requirement to prove 38 years and 6 months of contributions to the Social Security. The retirement ages and the listing period, will be applied gradually, in the terms that result from the following table (which you can also download here):

Retirement table according to years of contributions in Spain Cristina Sounds

In summary, they will not be able to reach retirement until they are 66 years old all those workers who have less than 33 years of contribution, what is he minimum to get an involuntary early retirement, two years less than necessary to be able to access early retirement voluntarily, which it’s requires 35 years of contributions. If you do not reach those 33 years, you will not be able to reach 37 years and three months of contributions, which is the reference date to determine the ordinary age of retirementThose who reach this figure can retire at 65 but the rest must wait until 66.

Requirements for retirement in Spain

The requirements for retirement are as follows:

  1. Be affiliated with Social Security: In any of the regimes contemplated.
  2. Meet the minimum age: The retirement age will not always be 65. By 2027, it will be 67 years. A transitional period has been established from January 1, 2013 to 2027 in which the retirement age is gradually delayed from 65 years to 67 years. For instance, By 2021, 66-year-old workers will be able to retire. You can check the retirement table according to the years of contributions in the table above.
  3. Comply with the minimum contribution period: To be entitled to a contributory benefit, it is necessary to meet the requirement of having a minimum contribution of 15 years or 5475 days. In addition, it will be necessary to have a minimum of 2 years of contributions within the last 15 years before applying.
  4. The “causal event” must have occurred What can be:
  5. The day of cessation of work activity, with the worker registered with social security.

  6. The day the application is submitted, in situations assimilated to registration.

  7. The day the application is submitted, in non-registration situations.

Leave a Reply

Your email address will not be published. Required fields are marked *