The first part of the pension reform designed by the Minister of Inclusion, Social Security and Migration, José Luis Escrivá, has been and is only pending a parliamentary ‘yes’ for its implementation at the end of 2021. A bunch of changes within which early retirement is clearly affected.
After a few months of negotiations that culminated in the , Minister Escrivá is very close to ratifying some changes that aim to align the real age and the effective retirement age, promoting the extension of workers’ working careers.
To this end, a series of changes have been made to different types of early retirement, in addition to other innovations such as , (Consumer Price Index), new and .
With regard to voluntary early retirement, the reduction coefficients that reduce the pension of the worker who retires before the ordinary age will be modified. These coefficients will become monthly (currently they are quarterly) and will be applied to the amount of the pension (now they are applied on the regulatory basis).
This will be the reducing coefficients
These reduction coefficients will be lower in most cases, making the delay in early retirement more attractive. Thus, the early retirements of the middle sections of the table of coefficients, especially those made 16, 13 and 19 months in advance.
On the other side of the scale, early retirement with a longer advance (24 and 23 months before, the maximum allowed), as well as those made with one, two and three months in advance due to the reform, which seeks to discourage these early retirements. seeking to extend the career to more benign sections or, directly, to the ordinary retirement age.
For early retirement of workers with salaries above the maximum amount of pensions, the current system of coefficients (which proposes reductions of 0.50% per quarter in advance) will be changed to that of the rest of voluntary early retirements, although it will be in a gradual 10-year process starting in 2024.
Early retirement for reasons not attributable to the worker will also undergo changes: the new reduction coefficients will be applied to all those people who, at the time of early retirement, have received an unemployment benefit for at least three months.
In addition, for involuntary early retirement, these new coefficients will also be applied instead of the current ones as long as this benefits the worker. In parallel, the coefficients of this modality become, as for the rest, monthly instead of quarterly.
Lastly, there will be modifications in the early retirements due to the activity, those that due to toxicity or danger can give rise to early retirement even before the two years prior to the ordinary age.
In this sense, the Ministry of Inclusion, Social Security and Migrations has already reported that the regulation for these early retirements will be “more effective” by changing the procedures and the greater detail of the indicators of dangerousness or hardship.
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