The one designed by José Luis Escrivá, Minister of Inclusion, Social Security and Migrations, includes a remodeling of early retirement in several of its modalities, including voluntary early retirement by the worker.
In this type of retirement, the worker can advance retirement up to two years before the , which in 2021 is 66 years for workers with less than 37 years and three months of career and 65 years for the rest. This advance is offset by a reduction in the pension by applying a series of reduction coefficients that depend on the worker’s previous contribution.
Escrivá’s reform not only changes the reduction coefficients, but also modifies their structure: they become monthly instead of quarterly and are applied to the amount of the pension and not to the worker’s regulatory base (the one formed by the contribution bases of the last 24 years divided by 336).
The one in which the pension reform is articulated must still be approved by Congress and the Senate, but in its text you can already see the changes in the reduction coefficients. , have the objective of aligning the ordinary age and the effective retirement age, for which certain early retirements that are made close to the retirement age or with much anticipation are discouraged.
The impact depends, of course, on the duration of the careers of workers who retire early. Social Security distinguishes four groups of workers for which Escrivá has modified the reduction coefficients. If approved, from 2022 these will be the most affected early retirements of each of these groups.
Workers under 38 years of age and six months of contributions
Workers who retire two years before (24 months) are the most penalized, since their coefficient goes from 16% to 21%. Those who retire 23 months before see the reduction increased from 16% to 17.60%.
Together with them, the workers who take early retirement between three and one month before the ordinary age are the others to whom the reduction is increased from 2% to 3.52%, 3.38% and 3, 26%, respectively.
Workers between 38 years and six months and 41 years and six months contributing
Once again, workers who retire 24 months in advance are the most penalized, since they go from reductions of 15% to 19%. After them, those who take early retirement 23 months before, whose reductions go from 15% to 16.5%.
Workers who retire six months in advance (from 3.8% to 3.82%), three months (1.9% to 3.36%), two months (1.9% % to 3.23%) and one month (1.9% to 3.11%).
Workers between 41 years and six months and 44 years and six months contributing
Those who want to retire 24 months earlier once again receive the largest reduction, which rises from 14% to 17%, along with those who retire 23 months early, who go from 14% to 15%.
Workers who bring their retirement six months earlier are slightly affected (the reduction goes from 3.5% to 3.64%), as is that of those who retire three months early (from 1.8% to 3.2%), two months (from 1.8% to 3.08%) and one month before (from 1.8% to 2.96%).
Workers over 44 years of age and six months of contributions
In this last group, the workers with increases in penalties are those who retire three months early (from 1.6% to 3.04%), two months (from 1.6% to 2.92%) and one month (from 1.6% to 2.81%) in advance. People who retire six months earlier are also affected, with their reduction from 3.3% to 3.45%.
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