Early retirement is conceived in most cases as a method by which pensioners advance their retirement by a couple of years in exchange for giving up a certain part of their pension. But, apart from these assumptions, there are others in which, if it is understood that retirement is not voluntary, the retirement date can be brought forward a little more.
It is understood that retirement is not voluntary when it comes from a dismissal at work . For these people, a dismissal in the final stage of their professional life is a huge difficulty for them to reengage in the labor market, so an advance of early retirement is contemplated with respect to those of citizens who arrive at it without a termination.
In these cases, Social Security provides that workers can advance retirement by up to four years . As the ordinary retirement age is 66 years for those who have contributed less than 37 years and three months and 65 years for the rest, there will be workers who can take early retirement from 61 years of age .
To do so, however, a number of requirements must be met. According to Social Security , in order to apply for early retirement it is necessary to be registered as a job seeker at least six months after dismissal.
Said dismissal must have occurred due to a ” business restructuring situation “. This will only be the case in cases of collective and objective dismissals for economic, technical, organizational or production reasons, termination of contracts due to court decisions or due to outside causes, as well as the death, disability or retirement of the individual entrepreneur.
In addition, the worker must prove at least 33 years of contribution , of which two must be in the last 15 years. For employed agricultural workers, it is mandatory to contribute six years out of the last ten.
What is the amount of the pension
As always, you have to use the method of calculating the Social Security retirement pension , which adds the contribution bases of the last 24 years (288 months) and divides them by 336. If there are periods without contributions, the gaps can be used of integration by which a fictitious quotation of between 100 and 50% of the minimum base is placed.
The result is the regulatory base. To be entitled to 100% of this base, we have to work 36 years, and to have at least 50%, it is necessary to work 15 years, after which 0.21% of the regulatory base is added for each one of the first 106 months and 0.19% for each of the following 146 months.
Once the amount of the pension has been obtained, since it is an early retirement, certain reducing coefficients will have to be applied that vary depending on the years previously contributed. They are as follows:
-Workers under 38 years and six months of contributions will have reductions of 1.875% of the regulatory base per quarter.
-Workers between 38 years and six months and 41 years and six months will have reductions of 1.75% per quarter.
-Workers between 41 years and six months and 44 years and six months will have reductions of 1.625% per quarter.
-Workers over 44 years and six months will have reductions of 1.5% per quarter.
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