These are the years you have to contribute and the age you must be to collect 100% of the pension

One of the most common questions regarding retirement is when that moment will come, that is, how many years do we have to work to be able to retire and especially how many years do we need to be able to do so with 100% of the retirement pension at the what we aspire to

To answer this question, it must be made clear that the answer for 2021 will not be the same as for 2024 or 2027. The reason is why a transitional period was established until 2027 to progressively increase both the retirement age as the quoted months that are taken into account for .

In this sense, it is necessary to take into account how the amount of pensions is calculated, something for which the years worked and the regulatory base must be taken. At least, you have to work 15 years to be entitled to the minimum pension () or 50% of the regulatory base. This regulatory base is obtained by adding the contribution bases of the last 24 years (288 months) and dividing them by a divisor of 336.

This will change in 2022, the year in which the regulatory bases of the last 25 years (the last 300 months) will be taken into account and a divisor of 350 will be applied.

However, to be able to collect 100% of the pension, you have to work a lot more. This is where the peculiarities begin, because the 2011 reform traced a route of several stages in which the years of contributions necessary to obtain the maximum amount of the pension increase.

For 2021 (and also for 2022), from year 15, for each extra month of work and up to the first 106, there is an additional 0.21% of the regulatory base. From 107, and up to 252, the worker is granted 0.19% of the regulatory base, so that in order to collect 100% of the pension, at least 36 years of work are needed.

This will become somewhat more complicated in the period between 2023 and 2026, in which, after the first years, for each month from 1 to 46, 0.21% of the regulatory base will be given, and from 47 to 258. 0.19%, forcing the worker to contribute for 36.5 years.

In 2027, the final date of the transitory period, the definitive times will already be available. After 15 years for the minimum pension, for each month from 1 to 248 you will be entitled to 0.19% of the regulatory base, and 0.18% for each month from 249 to 264. This will mean that in order to collect the 100% of the pension if they have to work 37 years.

However, having this contribution period is not enough, since you have to wait for the ordinary retirement age. Taking advantage of any of the types of early retirement entails cuts in the amount, so if you want to obtain 100%, you have to wait until that mandatory date is reached.

The 2011 reform also designed a progressive increase in the mandatory retirement age. , this age is 65 years for people with 37 years and 3 months of contributions, and 66 years for those who do not reach that amount.

This will increase from year to year, according to the data published by the Social Security, so that the objective is that in 2027 the ordinary retirement age is 65 years for workers with at least 38 years and 6 months of contributions, and 67 years for the rest.

Therefore, in order to retire with 100% of the pension, not only the years worked are important, but also the age of the worker and the age at which said retirement occurs. A combination of factors that will make this procedure somewhat more complicated in the future.