What requirements must you meet to retire at 61 years of age?


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Currently in our country, although the retirement age is established in the 67 years, it’s possible
retire
at 65 as long as the worker accredits 37 years and three months of contributions. If the listing career is less than that period, he will have to wait until 66 to be able to say goodbye to his job forever.

However, there are people who choose the
early retirement
. If this is voluntary, you must have reached an age that is less than two years, at the most, than the required age, be registered or in a situation assimilated to discharge and prove a minimum period of 35-year effective listing. From this toAt least two years must be comprised within the 15 immediately prior to the moment of causing the right or the moment the obligation to contribute ceased.

In the case of non-voluntary early retirements, it is possible to retire at Age 61, as long as certain requirements are met:

Requirements for early retirement at 61

As explained from the portal of the Social Security, will be able take early retirement at age 61 those people who are registered in the employment offices as job seekers for a period of at least six months immediately prior to the date of the retirement application. In addition, the following conditions must be met:

  • Accredit a minimum effective contribution period of 33 years, of which at least 2 must be within the 15 immediately prior to the moment of causing the right or at the moment in which the obligation to contribute ceased.
  • That the cessation of work has occurred as a result of a business restructuring situation that prevents continuity in work

Thus, they will only be able to opt for this modality of early retirement workers who have been affected by a collective dismissal or objective for economic, technical, organizational or production reasons, as well as those for which the contract has been terminated by judicial resolution or force majeure verified by the competent labor authority. Workers over 61 years of age affected by the death, retirement or disability of the employer as a natural person, or when their legal person ceases to exist.

On the other hand, as established by Law 27/2011, of August 1, workers with an early retirement may take up to four years before turning 67. disability greater than or equal to 65%. Similarly, those with a 45% disability provided that they are disabilities in which a reduction in the person’s life expectancy is determined “in a generalized and appreciable way”.

Reduction of pensions

Of course, early retirement does not come cheap. Workers who retire at age 61 under these conditions will have their pension reduced due to the application of the reducing coefficients, which are currently the following:

  1. Coefficient of 1.875% per quarter when a contribution period of less than 38 years and 6 months is accredited.
  2. Coefficient of 1,750% per quarter when a contribution period equal to or greater than 38 years and 6 months and less than 41 years and 6 months is credited.
  3. Coefficient of 1,750% per quarter when a contribution period equal to or greater than 38 years and 6 months and less than 41 years and 6 months is credited.
  4. Coefficient of 1.625% per quarter when a contribution period equal to or greater than 41 years and 6 months and less than 44 years and 6 months is credited.
  5. Coefficient of 1.625% per quarter when a contribution period equal to or greater than 41 years and 6 months and less than 44 years and 6 months is credited.
  6. Coefficient of 1,500 per 100 per quarter when a contribution period equal to or greater than 44 years and 6 months is accredited.
  7. Coefficient of 1,500 per 100 per quarter when a contribution period equal to or greater than 44 years and 6 months is accredited.

Once the relevant reductions have been applied, the amount resulting from the pension may not exceed the amount that results from reducing the maximum pension ceiling by 0.5% for each quarter or fraction of a quarter in advance.

Pension reform

The workers who are retire early at age 61 complying with the requirements set forth above, they will continue to be able to do so in the same way with the pension reform agreed by the central executive and the social agents.

In the same way, the reduction coefficients will be less harmful for those workers who decide to take early retirement voluntarily. The maximum cut will be 30% in the case of retirement four years in advance, provided that you have less than 38 and a half years of contributions.

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