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Compulsory Elderly and Disability Insurance



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Purpose:

To grant pensions for old age, disability or widowhood based on contributions made to the former Elderly and Disability Insurance or on having been affiliated in the Workers Retirement scheme.

Beneficiaries:

The people who meet the established requirements for each type of pension.

Requirements:
  • Old Age: Have reached the age of 65, or 60 in the case of old age with disability, and have made 1,800 days of contribution payments prior to 1-1-1967 or to have been affiliated in the Workers Retirement.

  • Disability: 1,800 days of contributions made to SOVI , to be 50 years old and be unable to work.

  • Widows/Widowers: The requirements depend on the date of death of the originator and on whether or not they were a pensioner.
Amount:

The fixed amount for the old age, disability and widowhood pension is 384.50 euros per month.

When the widow's/widower's pension and the SOVI pension exist at the same time, the total amount may not exceed twice the amount of the minimum widowhood pension established at any time for beneficiaries over the age of 65. If it exceeds this limit, the amount of the SOVI pension will be reduced by the amount required in order not to exceed the limit indicated.

Economic effects:

Old Age: It is paid from the day after reaching the age of 65 if the application is submitted within the following 30 days.  If  it is submitted later, it is paid from the first day of the month after that in which it was submitted.

Disability: Paid from the first day of the month following the date the application is received by the National Social Security Institute (INSS).

Widows/Widowers:

  • If the originator was not a SOVI pensioner and the application is submitted within a year of the death, it is paid from the first day of the month following that of the death. If it is submitted later, it is backdated one year from the date of the application.
  • If the originator was a SOVI pensioner and the application is submitted within three months of the death, it is paid from the month following that of the death. If it is submitted later, it is paid with three months backdating.
Payments:

The pension is paid monthly with two extra payments that are paid with the June and November monthly payments.

Incompatibilities:

SOVI pensions are incompatible each other and with receiving another pension from the current Social Security System, except for any widowhood pension that the beneficiary may be entitled to. However, the beneficiaries may exercise their right to choose the most favourable pension.

Periods:

Acknowledgment of the SOVI pensions must be resolved and notified to the interested party within the following periods:

  • Old Age and Widowhood: 90 days.
  • Disability: 135 days.
Termination:

Old Age: On the pensioner's death.
Disability: Due to loss of disability status or death.
Widowhood: Upon marriage or death.

Forms:

Application for a pension for retirement, disability, widowhood.

Documentation:

The documents to be submitted to process the pension are listed on the application form for retirementdisability or widowhood.

Where to process it:

At any Social Security Information and Support Centre.

Competent entity:

Management and recognition of the right to the former SOVI pensions is the responsibility of the National Social Security Institute (INSS).



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