Knowing the necessary requirements to access early retirement and what the amount of the future pension will be are essential to decide if it is worth retiring before the ordinary retirement age. Not in vain, the legal age to access the ordinary is delayed in 2023 -in application of the calendar that has been applied progressively since 2013- to 66 years and four months if they have contributed less than 37 years and nine months or to 65 years if this listing period is exceeded. This modification also means postponing the ages to qualify for retirement voluntary early retirement and involuntary early retirement in 2023.
All workers, both salaried and self-employed, to anticipate retirement must meet, among others, a series of requirements, such as being registered or in a situation similar to registration (unemployment, total or subsidized; involuntary unemployment; paid annual vacations not taken; forced leave; or leave for child care).
In addition, it is essential to have contributed for at least 35 years or 33 years in involuntary early retirement, of which two must be included in the 15 years prior to the cessation of work activity. Within the 35 years of contributions, the period of military service, substitute social benefit and female social service (the latter as a novelty since January 1, 2022) will be taken into account, with a maximum computable period of one year.
Once the above requirements have been accredited, the pension amount to be received must be greater than the amount of the minimum pension that would correspond to the interested party due to his family situation if he reached 65 years of age (with a dependent spouse, 13,526.70 euros per year; without a spouse, 10,962 euros per year; and with a non-dependent spouse, 10,405.15 euros per year). If this requirement is not met, you will not be able to access early retirement.
Revaluation of pensions
Pensions are revalued by 8.5% by 2023, which is causing the reduction of the pension in the event of taking advantage of an early retirement at the end of 2022 (due to the application of the reduction coefficients) to be offset by the high rise in pensions in 2023. For example, whoever chooses to retire early in December 2022, is 18 months away from reaching the ordinary retirement age and has contributed for the maximum period (more than 44 years and six months of contributions) has a penalty of 7.6%, below the 8.5% that the pension will increase in January 2023.
The January increase in contributory pensions compensates in many cases completely for the cut due to the application of reducing coefficients in early retirement a few months before the ordinary legal retirement age. Even retiring early at the end of 2022 can mean an improvement in the future pension.
Voluntary early retirement
This modality of early and voluntary access to a pension is based on a personal decision of the worker who is committed to stop carrying out his work activity. Voluntary early retirement can be accessed up to 24 months before the ordinary legal retirement age. Thus, at the age of 63, a worker can voluntarily retire early if he has contributed for 37 years and nine months or more. In case of contributing below that period, the retirement age in 2023 will be from 64 years and four months.
To be entitled to voluntary early retirement a series of requirements must be met, among which are having at least 35 years of contributions, of which two must be included in the 15 years prior to the date of retirement, as well as the amount that corresponds to receive as pension is higher than the minimum pension that would correspond to him when he turns 65.
In voluntary early retirement, one of the novelties of the pension reform is that the reduction coefficients that are applied are monthly. According to the UGT, Social Security reduces the amount of the payment based on the number of months in which retirement is anticipated. In addition, the penalties are applied to the amount of the pension and not to its regulatory base, as was the case before. In this way, the reduction of the pension can be from 2.81% when retirement is anticipated one year and have contributed for 44 years and six months to 21% for those who advance retirement 24 months and have contributed for less than 38 years. and six months.
forced early retirement
This type of early retirement that derives from the non-voluntary termination by the employee requires that the termination of the employment relationship is not due to a cause attributable to the free will of the worker. It is the case of employees without work due to an ERE, collective dismissal, objective dismissal, force majeure or retirement, disability or death of the employer. However, it must be borne in mind that involuntary early retirement can only be accessed by employees, but not by self-employed workers.
In the event of involuntary or forced early retirement, the advance period is extended with respect to voluntary anticipation up to 48 months before the ordinary legal age to access the pension. At 61 years of age, a worker can voluntarily retire early if he has contributed for 37 years and nine months or more. In case of contributing below that period, the retirement age in 2023 will be 62 years and four months.
The right to forced early retirement or for reasons not attributable to work requires meeting a series of requirements, including being registered in the employment offices as a job seeker for at least six months prior to the date of retirement application; have contributed for at least 33 years, of which two must be included in the 15 years prior to retirement; non-voluntariness for reasons not attributable to the worker (ERE, collective dismissal or objective dismissal).
For each month or fraction of a month that the worker who requests involuntary early retirement is missing to meet the legal retirement age, a reduction coefficient will be applied, which will also be determined by the listing period that proves In this way, the reduction of the pension can be from 0.50% when the forced retirement is anticipated one year and has contributed for 44 years and six months up to 30% for those who advance retirement 48 months and have contributed less than 38 years and six months.
gender complement
Early retirement pensions are also recognized as having the right to receive the supplement to reduce the gender gap. It can only be given to one of the two parents. In principle, it is aimed at women, but parents can also request it as long as their professional career has been interrupted or affected due to the birth or adoption. In the event that neither of the two parents has been harmed by periods without contributions or by reductions in work, the supplement will be awarded to the mother. The amount of the resulting pension will be added to the supplement to reduce the gender gap of 28 euros for each child, with a maximum limit of 112 euros (four children).
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