This is the retirement pension of a self-employed person who contributes for the minimum

More than 1.3 million of the 6.2 million Spanish retirees come from the Special Scheme for Self-Employed Workers, the RETA. These people have an average pension below the average and that of workers from other Social Security schemes, given that a large part of these professionals tend to contribute for a good part of their career for the minimum base.

There is no single explanation for the large number of self-employed workers, but two seem to be the most frequent: betting on the short term (contributing less with low contribution bases despite having higher incomes) or obtaining low incomes that, for therefore, they conform to that minimum base.

The truth is that the official data is clear. 85.8% of the more than two million self-employed workers who are natural persons contribute for the minimum base, according to the .

This has its consequences on the future retirement pension, given that lower contributions (they are made on that contribution basis and if it is lower, lower contributions will result) there will be a lower regulatory base and, therefore, the right to a retirement pension of a lower amount.

The data is there: , the average pension of retirees of the General Regime exceeded 1,400 euros per month and that of the self-employed was much less, at 834 euros per month.

For all this, it is very useful to know the amount of the pension of a self-employed worker who contributes for the minimum base, a piece of information that may be of interest to a worker who only receives a retirement pension from the RETA (which may take to try to contribute for higher bases in the future) or to one who, after participating in several schemes, manages to collect two retirement pensions together.

How is the pension of a self-employed person who contributes for the minimum calculated?

As with the rest of the workers, send the . This method is elaborated from two variables: the regulatory base of the worker and the total number of years worked.

In the first place, therefore, it is necessary to obtain the amount of the self-employed worker’s regulatory base, which will be the sum of the contribution bases of the last 25 years (300 bases) divided by 350. Although the contribution bases are added of all these years, Social Security will apply coefficients in the bases of all years except the two prior to the request for retirement to reflect the effect of inflation on those bases, a small ‘aid’ for the self-employed.

However, the self-employed worker will not have another aid that the General Scheme workers do have: the integration of gaps that it allows (the minimum in the first 48 months and 50% of the minimum from month 49). Thus, the periods without contributing will penalize you.

What is the regulatory base of a self-employed person who contributes for the minimum

Self-employed workers who have contributed for the minimum base will have regulatory bases quite far from 1,000 euros. The minimum base in 2022 is 960.60 euros, but it is enough to look back to see that 11 years ago, in 2011, the minimum base was significantly lower, 748.20 euros. And if you look back 25 years, in 1997 the minimum base was 106,440 pesetas: about 639 euros per month.

However, it is necessary to lend to the total number of years of contributions, because the percentage of the regulatory base to which the self-employed worker will be entitled will depend on that figure:

-With 15 years of contributions, the minimum required, you are entitled to 50% of the regulatory base. In the case of the self-employed who contribute for the minimum, they would leave this amount below the , so they could need the to reach at least that figure.

-After those 15 years, for each of the following 106 months of contributions, the worker will be given an extra 0.21% of the regulatory base.

-For each of the following 146 months of contributions, the worker is granted an extra 0.19% of the regulatory base. This will mean that with 36 years of work, the right to receive 100% of the regulatory base is obtained, which is traditionally known as 100% of the pension.