Wednesday, March 29, 2023, 01:03
Early retirement is an option that all workers fantasize about at some point in their working lives. Enjoying a well-deserved rest before the normal retirement age is always something to take into account, although it is worth knowing the conditions under which this option is executed.
One of the most advantageous possibilities is to retire early at 61 years of age. Doing it at that age is almost four years ahead of the real age (which is 64.7 years, according to Social Security data) and the ordinary one, which in the best of cases is 65 years and in the The worst is 66 years and four months (this depends on whether or not you reach 37 years and nine months of contributions).
To retire early at age 61, the worker must attend to his employment situation. Being in a situation of registration with Social Security (that is, performing a job) or in a situation of unemployment can determine the type of early retirement to be chosen by this worker. Proceeding from any of these situations and complying with the above requirements, the worker may opt for involuntary early retirement. This modality does not get rid of the pertinent cuts in the pension, so if the worker accepts, he must assume reductions in the amount of his retirement pension.
The cuts in the retirement pension when a person retires early are made through the application of reduction coefficients. These coefficients were modified with the entry of 2022 and the approval of the first leg of the pension reform: since then they are monthly and are applied to the pension already calculated (before they were quarterly and applicable on the regulatory basis).
The first step, therefore, to find out the cuts in a pension for a person who retires early is to proceed to the calculation of the pension. To do so, you must resort to the Social Security retirement method. Taking into account the contribution bases of the last 300 months (25 years) prior to retirement and dividing them by 350, the worker will have his regulatory base calculated. In this calculation, Social Security will apply coefficients to all the bases except those of the last two years (this is how the effect of inflation is reflected) and the worker may execute, if entitled, the integration of gaps by which he fills in with fictitious bases. of between 100% and 50% of the current minimum base for the periods in which you did not contribute.
The worker will be entitled to different percentages of that regulatory base depending on the total number of years worked during his life. With a minimum of 15, 50% of the regulatory base will be insured, for each of the following 49 months you will obtain an extra 0.21% of the regulatory base and for each of the following 209 months you will have an extra 0.19%. With these figures, workers who accumulate 36 and a half years will be entitled to 100% of the regulatory base.
In this case there would be people who, at the age of 61, take advantage of involuntary early retirement, since they need their ordinary retirement age to be 65 years (to execute the maximum advance, four years) and for this it is mandatory an even higher price, 37 years and nine months.