What are the requirements for partial retirement



The partial retirement It is the one that begins when a person turns 60 and has a part-time work contract, which may or may not be linked to a relief contract with an unemployed worker, or a contract with the company for a fixed duration .

In case that there is norelief contract It occurs when the employer does not have another person to do the work that the retiree does not partially. For this assumption, the requirements are the following:

–As of 2021, the retirement age is 65 for those who have contributed 37 years and three months or more, and 66 if they have contributed less.

- Have the right to a contributory pension, having contributed the minimum required of 15 years, of which two must have elapsed in the last 15 years.

–The person who receives a reduction in working hours will do so by a percentage of between 25% and 50%.

On the other hand is the condition of relief contract, which is when the company has a worker to cover the vacant hours of the partial retiree. The requirements to be met are the following:

-Have been full time. Partial contractors will also be admitted, in the event that the days are equivalent to the theoretical days of a full-time worker.

–Have a seniority in the company of at least six years prior to partial retirement.

–Credit the contribution of 33 years on the date of the causal event, have 65 years of age on the date of the event, or of 63 if 36 and six months of contribution are credited.

–The reduction of the working day has to be between 25% and 50, or it can reach 75% by the time the reliever worker is hired full-time and with an indefinite contract.

–The worker's contribution bases may not be less than 65% in the last six months of the period.

–The replacement contracts will have to be of a duration equal to the time that the substituted person lacks to reach the retirement age.

The amounts of partial retirement

The amount of the partial retirement pension will be the result of the calculation of applying the percentage of the reduction of working hours to the amount of the pension that would correspond, according to the years of contributions.

In any case, this may not be less than the corresponding percentage of the amount established in the minimum pension. Likewise, these pensions will also be revalued on the same terms as the rest of the payments.

How to apply for partial retirement

The application must be submitted to andl National Institute of Social Security. It will have to be done in the electronic registry in the national retirement section.

The documentation to present is the following: DNI, NIE or passport; the application form, company certificates; and if so, also provide the disability documents.

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