Compulsory early retirement: Loss of 26% of the pension after more than 41.5 years of contributions
In 2023 the normal age retirement is located in 66 years and 4 months for those who have paid in for 37 years and 9 months, although withdrawal is also possible at 65 if the above-mentioned 37 years and 9 months of social contributions are taken into account. To collect them 100% of pension, 36.5 years of contributions required to social security (i.e. 6 months more than in 2022). Despite these general requirements, the possibility exists voluntarily retire at a younger age (i.e. up to two years beforehand at 63), as involuntary, up to four years before, or whatever, when you have reached the age of 61.
Logically, a series of requirements are required for those who leave the labor market early. j the pension will not be 100%, However, reduction coefficients are applied depending on the contribution years and the exact retirement age.
The current regulations stipulate that with In 2023, it will be common practice to retire early at 61 As we get older, this must be done through means involuntary early retirement, That is, what happens as a result of an involuntary termination by the employee. In addition, conditions apply for the time specified, as these are only stated Possible if the person is at least 37 years and 9 months old of social contributions.
Those interested in this type of retirement will suffer bite of reducing coefficients, that punishes them Pension based on the number of months they expect Retirement. HE apply to the amount of benefits (and not on a regulatory basis, as was the case before the 2021 reform) and its negative effects is determined by the duration of the contribution that the employee certifies. This means that the further you leave your job and the fewer years of contributions you have, the greater the economic damage will be.
Between 30% and 24% permanent pension reduction
In 2023, these coefficients will be in case of involuntary or forced retirement they reduce the benefit by up to 30% to receive and it is a eternal punishment, This means that the share with which you enter the social security system remains throughout your life.
More specifically, retire at 61, That is, 48 ​​months in advance it includes a 30% discount for people under 38 years and 6 months quoted.
If more than 38 years and 6 months are cumulative, but less than 41 years and 6 months, the The penalty is 28% (see table below).
REDUCING COEFFICIENTS – INVOLUNTARY EARLY RETIREMENT
Further examples of pension loss when retiring at the age of 61: Law a applies 26% cut to whom, credit 41 years and 6 months of posts (but less than 44 years and 6 months old) must retire four years earlier at normal age.
In the case of those who have it 44 years and 6 months or more contributions, The punishment will be slightly less, 24% (see table above), if they retire at the age of 61.
The pension is reduced in the event of an advance payment involuntary retirement at the age of 62, 63 and 64, is decreasing, as reflected in the upper and lower tables:
REDUCING COEFFICIENTS – INVOLUNTARY EARLY RETIREMENT
Exceptional careers that allow you to retire at 61
The legislation provides for exceptions to the general retirement rule, and therefore there are such special assumptions that allow you to stop working at age 61, including: Mutualists Are entitled to this four-year advance.
Likewise, workers who perform dangerous or toxic tasks, as well as those who have one Disability of at least 65% (in this case there is no fixed retirement age) and persons with a disability of 45% (in these cases the retirement age is 56 years).
All contributors belonging to a professional group of these industries that enjoy this privilege: Police, Artists, firefighters, bullfighting workers, ertzainas, etc.
Reductions for retirement at 63 in 2023
According to the law, people who have reached the age of 63 can take voluntary early retirement. However, you must be aware that you will lose your pension for every month you leave work earlier. The Reduction coefficients are monthly (until 2021 they were quarterly), and in the case of this voluntary retirement it is possible eat up to one Maximum 21% the pension (if this is brought forward by 2 years and you have paid in less than 38 years and 6 months).
REDUCE COEFFICIENTS. VOLUNTARY EARLY RETIREMENT
For people with more than 38 contribution years and 6 months, but less than 41 years and 6 months, the cut The maximum is 19%. (24 months in advance) and the minimum of 3.11% (for those who retire 1 month before).
The law also provides: a 17% penalty yes, those who have more than 41 years and 6 months of posts, but are less than 44 years and 6 months old, they retire two years earlier. If they do this a year earlier, the reduction is 2.96%.
Those who have For more than 44.5 years of contributions, a reduction of 13% will be made. for retiring two years early and 2.81% if retiring is brought forward by just one month.
