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The pension amount is obtained by applying the percentage,  depending on the number of contribution years and the corresponding scale, to the regulating base.

Percentage / Reduction Coefficients

The percentage  of the base that corresponds, according to  the years of contribution, shall be lowered by the application of the following reduction coefficients:

  • When the worker accesses the pension from a voluntary termination of work, the amount of the pension shall be reduced by 8% for each year or fraction of a year at the time of such event and when the worker has yet to turn 65 years old, according to the following scale:

- At 60 years of age: 0.60.
- At 61 years of age: 0.68.
- At 62 years of age: 0.76.
- At 63 years of age: 0.84.
- At 64 years of age: 0.92.

  • When the worker certifies over 30 full years of contribution and accesses the  pension  after a  termination of work, for  reasons not attributable to the worker (involuntary termination), the reduction percentages of the amount of the pension will be, depending on the full contribution years, the following:

    - Between 30 and 34  years of certified contribution: 7.5 %. 
    - Between 35 and 37  years of certified contribution: 7.0 %.
    - Between 38 and 39  years of certified contribution: 6.5 %.
    - With 40 or more years of certified contribution: 6.0 %.

    For this purpose, it shall be understood that the unequivocal expression of will is the free will of the worker who, being able to continue their employment and there not being an objective reason that prevents it, decides to end it. In  all cases it is considered  that the termination of employment occurred involuntarily when the termination  occurred for any of the reasons set forth in Art. 208.1.1 of the General Social Security Act.

    These  percentages shall also be applicable if the employment relationship has been terminated for any of the reasons  indicated above:

    • To the recipients of unemployment benefits, when it is terminated by the termination of the benefit term or for becoming a retirement pensioner, in accordance with the provisions in points a) and f), section 1 of Article 213  of the LGSS.
    • To recipients of unemployment benefits at a welfare level and older than 52/55 years of age.

    • To workers over 55 years of age who do not meet the requirements to qualify for unemployment benefits for those older than said age and once the unemployment benefits are exhausted and they continue to be registered in the offices of public employment services.

    For the calculation of 30 or more years of contribution to be established in the various cases cited, the regulations established for determining the amount of the standard retirement pension will apply. 

Improvement of early retirement pensions prior to 1 January 2002. Therefore, for workers who were eligible for early retirement pension and were members of a Mutual Insurance Society prior to 1 January 2002, either in the General Scheme or Special Schemes, when in each case age had been taken into account for the implementation of the corresponding reducing coefficients, it would have been between sixty and sixty-four, and both would be entitled to an improved pension effective 1 January 2007, provided that the documentation in the Social Security Administration meets the following requirements:

  • They certify at least thirty-five years of contribution.
  • The termination of the employment contract that would have enabled early retirement occurred for reasons not attributable to the free will of the worker, within the cases referred to in Article 208.1.1 of the LGSS.

The improvement of the pension shall consist of an increase in its full monthly amount, which varies according to the worker's age taken into account for determining the reducing coefficient of the percentage applicable to the calculation basis of the pension, in accordance with the following:

  • Sixty years, €63 monthly
  • Sixty-one years, €54 monthly
  • Sixty-two years, €45 monthly
  • Sixty-three years, €36 monthly
  • Sixty-four years, €18 monthly

The corresponding amount, to be paid in fourteen instalments, shall be recognised as changes in the amount of the retirement plan and will be integrated into the same for all purposes, including the application of the maximum limit without prejudice given the case, of the absorption of the complement for the least amount received. In the case of pensions recognised under international standards, in order to set the amount of the monthly increase, the rules of such standards will be applied upon determining the calculation and amount of the pensions.

The  management body shall recognise ex officio or upon request, the right to this improvement within three months from the day following the publication of the Measures Law on Social Security in the BOE (Official State Bulletin), published 6 December 2007, according to the information contained in the Social Security benefits database and the general affiliation database, which shall certify, respectively, the years of contribution and the involuntary nature of wok termination.

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