At what age can I retire with 21 years of contributions?

At what age can I retire with 21 years of contributions?


The great concern of workers throughout their lives is to accumulate, as far as possible, the highest possible contribution in order to have more favorable conditions in everything surrounding their retirement pension.

Not only does the amount of his retirement pension depend on the years contributed by a worker throughout his working life (which is important enough in itself, given that it will be his source of income when he stops receiving a salary), but also the age at which you can retire and stop working if you wish.

In both cases the key is in the quote: the more years you have been quoted, the more advantageous conditions. In everything that concerns at retirement agehaving the highest possible contribution can give the worker a lower retirement age than other workers with lower contribution levels.

The reason is that in Spain there are two ordinary retirement ages different due to the 2011 pension reform, which proposed delaying the retirement age of people who do not reach certain years of contributions. This reform is being applied progressively and will continue to do so until 2027: each year the retirement age and the contribution level necessary to be able to retire at 65 years of age, the age in force before the reform, increase.

At what age do you retire with 21 years of contributions?

The way the retirement age works in Spain makes workers wonder at what age they will be able to retire given the years they have contributed. For example:At what age will I be able to retire with 21 contributions??

To answer this question we must turn to the pension reform, which was expressed through Law 27/2011, of August 1, which can be consulted at this link. Its article 4 modified the General Social Security Law to gradually delay the retirement age in the event of not reaching a contribution that also increases annually.

The progressive calendar to apply this reform leaves the two retirement ages that exist in 2024 and that depend on the accumulated contribution:

  • The retirement age will be 66 years and six months if 38 years of contributions are not proven.
  • The retirement age will be 65 years if 38 years of contributions are proven.

Therefore, workers who have contributed for 21 years will only be able to retire from 66 years and six months. These people will also not be able to benefit from any of the two major early retirement options, since they require between 33 and 35 years of contributions (involuntary and voluntary, respectively).

What pension do you receive if you have contributed for 21 years?

People who have contributed for 21 years may collect a contributory retirement pension. To know the amount you have to go to the method of calculating Social Security pensions, which takes into account the worker’s contribution bases for the last 25 years (adds them and divides them by 350) to obtain the regulatory base of the pension. In this calculation, Social Security applies coefficients to all bases except those of the last two years and workers (except self-employed workers and domestic workers) have the right to benefit from the integration of gaps. to fill with fictitious bases periods without contributions.

The last thing to do is determine the percentage of the regulatory base to which the worker is entitled, which depends on the years and months of contributions. Social Security grants different percentages depending on the time contributed:

  • With 15 years of contributions we guarantee 50% of the regulatory base.
  • For each of the next 49 months of contributions we guarantee 0.21% of the regulatory base.
  • For each of the next 209 months of contributions we guarantee 0.19% of the regulatory base.

Taking these keys into account, a person who has contributed for 21 years will have a retirement pension of an amount equivalent to 64.66% of the regulatory base.

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