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Voluntary early retirement

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Languages available: Castellano

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Languages available: Castellano

From 17/03/2013 onwards, this new form of early retirement is applicable to causal events occurring after that date, with the exception of cases in which temporary provision four, section 5 of the LGSS is applicable.


The amount of the pension resulting from applying to the base rate the general percentage corresponding to the months that contributions were made will be reduced  by applying, for each month or fraction of a month, the time the worker has still to work to reach the legal retirement age at the time of the causal event, which in each case results from the application of the coefficients calculated using the table of reduction coefficients, depending on the accredited contribution period and the months in advance.

With the sole purpose of establishing the aforementioned legal retirement age, this will be considered as the age the worker would have reached had they continued making contributions during the period between the causal event and reaching the legal retirement age applicable in each case.

To calculate the contribution periods, only complete periods will be considered, with fractions of periods not being considered as equal thereto.

When at the time of taking this type of retirement the worker is receiving unemployment benefit and has done so for at least 3 months, the reduction coefficients foreseen for early retirement for reasons not attributable to the worker shall be applicable, although the requirements for access to early retirement of their own free will set out in this section shall apply.

Limits of amounts:

Having applied the aforementioned reduction coefficients, the resulting amount of the pension may not exceed the amount resulting from reducing the maximum pension limit by 0.50% for each quarter or fraction of a quarter taken early.

The coefficient of 0.50% referred to in the previous paragraph shall not apply in the following cases:

  1. For retirement taken under the provisions of  section 1, point 2 of the fourth transitory provision of the General Law on Social Security.
  2. For early retirement as regards occupational groups or professional activities involving particularly distressing, toxic, dangerous or unhealthy work, or as regards persons with disabilities. 


With effect from 1-3-2022, beneficiaries of voluntary early retirement pensions paid between 1-1-2002 and 31-12-2021 are entitled to a supplement, the amount of which is equal to the difference between the amount of the pension initially calculated and the amount resulting from applying to the initial pension the reduction coefficients in force from 1-1-2022. The following conditions must be met:
  • At least 44 years and 6 months of contributions, or 40 years of contributions if the amount of the pension is less than 900 euros on 1-1-2022.
  • That the amount of the initial pension would have been higher if the reduction coefficients in force on 1-1-2022 had been applied.

The supplement, which will form part of the pension for all purposes and will be paid in 14 instalments, will be automatically recognised in the first quarter of 2022.

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