At what age can I retire? This question has crossed our minds at some point in our lives, even among relatively young people, and there is no single answer. Although almost all of us want it to be as soon as possible, in some cases we have to wait longer than in others.
In Spain retirement age (and the amount of retirement pension) It depends on the contribution that the worker has accumulated throughout their professional life.. The effects of the various pension reforms carried out in recent years to guarantee the viability of the pension system have been diverse, but in the case of the retirement age they have contributed to delaying it in certain circumstances.
Thus, since 2013, there have been two different retirement ages: that before the reform (65 years) and a new one which increases each year until 2027 as long as the worker does not reach a contribution amount which, at his or her turn, increases from year to year. year.
This is why it is common for everyone to wonder at what age they will be able to retire once their contributions have been reached. One case is for example that of people who have contributed for 10 years.
At what age can I retire with 10 years?
In this case, the worker has bad news and good news. The bad news is that you will not be able to receive the contributory pension because you will not reach the minimum contribution level required by the regulations, which is 15 years. The good thing is that you have the right to receive a pension.
People with 10 years of contributions can receive the non-contributory retirement pensionwhich is granted to people of 65 years or olderas IMSERSO explains on its website.
To be entitled to a non-contributory pension, in addition to not contributing and having an age of at least 65 years, it is necessary to prove residence in Spanish territory for “ten years in the period between the date of completion of the sixteen years and the period of accumulation of the pension, two of which must be consecutive and immediately preceding the date of the request”.
In addition, you must respect a series of income limits, which are as follows:
- A person living alone: 7,250.60 euros per year.
- A cohabitation unit of two people (the income of the two members is added): 12,326.02 euros per year.
- Units of three and four (or more) people: respectively 17,401.44 euros per year and 22,476.86 euros per year.
- People who live in cohabitation with their parents or children: 30,815.05 euros per year in housing for two people, 43,503.60 euros per year in housing for three people and 56,192.15 euros per year in housing for four people or more.
Pension amount if you have contributed for 10 years
IMSERSO specifies on its website that the amount of the non-contributory pension is, in general, 517.90 euros monthly and 7,250.60 euros annually. Additionally, other assumptions are included:
- The amount of the 25% pension is 129.48 euros per month and 1,812.65 euros per year.
- If two beneficiaries coincide in the same cohabitation unit, the amount for each of them is 440.22 euros per month and 6,163.01 euros per year.
- If three beneficiaries coincide in the same cohabitation unit, the amount for each of them is 414.32 euros per month and 5,800.48 euros per year.
