It was from 2013 when workers begin to retire at age 67. Although there will be a transitional period until 2027.

It was last Thursday, July 21, when the House of Representatives finally approved the pension reform, supported only CIU, while in the Lower House gave its approval, accepting the 40 amendments of the Senate to the law “update, adapt and modernize Social Security .”

Work in its entirety from 2027

This new law basically involves gradually extend the retirement age from 65 to 67 years old and raising from 15 to 25 years the period for calculating pensions. That is, from 2013, workers born in 1948 will retire at 65 years and one month, and so on will be extended until the year 2027, which will be completed and finally the retirement age to 67 years. That is, those born after 1959 will be totally unaffected by the reform. However, whenever a worker has listed at least 38 years and six months may retire at age 65.

Exceptions in certain groups

Regarding groups such as women who have interrupted their careers to care for their children may join up to five years of contribution, or disabled persons in turn, may retire in advance with only 25 years of contributions.

retirement-age

Early retirement

Access to early retirement may be made after 63 years. Another thing is the amount that will be left to the worker. Because with only 15 years of service are entitled to 50% of the regulatory base of the pension, while in order to collect the maximum pension will always be necessary to prove the age of 38 and quoted at least six months. That is, three years and six months more than what was stated before.

The other countries of the European Union

Since December 2009 when the Government announced this measure has been on everyone’s lips. Especially when comparing the retirement age in Spain with other countries in the European Union, finding that France has set the stage to work at age 60. While Denmark has the same cap as Spain. Others, focus on all 65, but some countries are exceptions to women, such as Austria and Italy, 60 and Belgium at age 62.