Partial retirement in the industry will cost 1,778 million to the pension system until 2026

The Social Security calculates that the changes approved on Friday by the Council of Ministers on partial retirement and the replacement contract in the manufacturing industry will have a real cost of 1,778 million euros until 2026 in the pension system.

This is included in the budget impact report of the decree law approved by the Government on urgent measures to boost economic competitiveness in the industry and commerce sector in Spain.

This calculation, according to the document to which Europa Press has had access, does not include the cost that could be produced by unemployment benefits, nor the increase in the collection that could be derived from the hiring of relievers or indirect income derived from an increase in consumption. or the improvement of training.

The cost of partial retirement for Social Security benefit will have an impact of 87 million euros in 2019, and will increase gradually until 2022, the year in which the Government expects a greater increase in benefits derived from this measure, with 384 millions of euros.

In any case, it is an increase in costs in the Social Security system to the initially planned, since a projection also contemplated in the budget analysis of the decree law would imply an impact of 3,215 million euros.

This projection was made by replicating the current conditions of early retirement for the different subsectors of economic activity, without taking into account quantitative limitations contained in the decree law itself, and that limit the budgetary impact downwards, as recognized by the Government.

These limitations, explains the Executive, mean that some workers will not be able to retire early due to not reaching the established seniority, others for "not participating directly in the productive process in the way that is established" and other companies will not be able to apply it because they do not reach Indefinite employment percentages planned.

The memory of the decree law also includes a difference of about 422,685 euros per month between what Social Security would enter for workers who are going to retire partially, if they continue working until the legal retirement age, and what is paid by the relief workers ( and the time quoted by the partial retiree).

In annual terms this difference would reach 5.07 million euros, which, however, according to the Government's argument, would be less than the possible loss of 2% of the manufacturing sector, which will not be renewed because this instrument is not implemented , and that would amount to 5.6 million euros per year.

On the other hand, the simulation carried out by the Government to calculate the total contribution in quotations that would result in income from new hires, if applied to the entire manufacturing sector, could amount to 280,175 million euros per year. And is that the Government believes that the contract could benefit 24,015 new workers who could enter this sector as relievers.

To make this calculation, the Government has estimated the signing of 1,200 relays in an industrial plant in the period 2019-2022, with a new permanent contract at 100% of the working day and an increase in wages and contribution base of 2% per annum in the next 30 years.

In addition, it has an extra contribution during the first years of relief because the salary of the reliever in these three or four years is below the correlation of 65% between the base of the reliever's contribution and the relieved.

For 30 years, the total contribution to Social Security of the company (32.7%) and the worker (6.35%) for 1,200 workers during 30 years would be approximately, according to these calculations, of about 350,000 euros per employee.


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