The self-employed have the possibility of changing their contribution base based on their income forecasts throughout their working life, which generates the right to a retirement pension of a greater or lesser amount. The problem is that there is a tendency to quote for the minimum, putting the present before and neglecting the future. In fact, according to the Association of Self-Employed Workers (ATA), 86% of the self-employed in Spain contributed for the minimum base in 2019.
The minimum contribution base is 944.40 euros per month and contributing during all the years of activity for this amount generates the lowest contribution pension. However, it must be taken into account that the self-employed person can only change the base freely up to 47 years of age, after that there are restrictions.
In this sense, only workers over the age of 41 in 2021, who have a contribution base of 2,052 euros in the month of December 2020, will be able to maintain that freedom of choice. On the contrary, those who are below that limit will not be able to choose a base higher than 2,077.80 euros. Which explains why experts recommend quoting the minimum only when the business is starting or when a significant drop in billing is expected.
How many years do I have to contribute to collect the minimum pension?
It must be borne in mind that the Administration establishes certain sections of years of contribution to collect different amounts. In this way, the minimum to obtain a pension is 15 years.
A period that increases up to 20 years to collect 50% of the pension, and to 36 years to collect 100% of the pension.
How much will I earn if I only have the right to the minimum pension?
A self-employed person who has contributed 944.40 euros per month for a period of 15 years will be entitled to a retirement pension of only about 226 euros per month.
However, this figure rises to 561 euros if it is listed for at least 25 years. Finally, the retirement pension reaches 789 euros if the calculation grows to 36 years.
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