Option Right / Payment

• Pensions are paid in 14 instalments per year, which correspond to one paycheque per month plus two extras, which are given monthly along with the June and November pay cheques and are for the same amount of the regular monthly pay.

In the cases of initial recognition of a pension, or restarting pensions, as well as in cases or pension suspension or extinction, the corresponding extra pay will be calculated in sixths.

•  minimum amounts are agreed according to the age and family dependents.

• The pension, including the minimum pension amount, will be increased at the start of each year, according to the Consumer Price Index that is predicted for it.

• Retirement pensions are taxable in the terms established by personal income tax laws (IRPF), and subject to the applicable contributions and withholdings.