The contribution is one of the two major incentives (along with the salary) of a job for the worker, since it allows him to benefit in the future from Social Security benefits, including the one that everyone is looking for: the retirement pension.
There are, however, cases in which in some circumstances it is difficult to achieve the required contribution by the pension regulations to receive the contributory retirement pension.
The General Social Security Law explains in its article 205 (you can consult it on this link) that one of the conditions for receiving the contributory retirement pension is “to have covered a minimum contribution period of fifteen years, of which at least two” must be included in the fifteen years immediately preceding the birth of the right.
What if we don’t reach that goal of 15 years of contributions? What situation is that person in? For example,How much will a person earn who retires with 10 years of contributions??
What pension do you receive after 10 years of contributions?
Persons who have contributed for 10 years cannot receive the contributory pension, but they may be entitled to receive the contributory pension. non-contributory retirement pension.
On its website, IMSERSO defines the non-contributory retirement pension as one that “ensures all citizens over 65 years of age and in need of economic benefits, free medical-pharmaceutical assistance and complementary social services, even if they have contributed or have been insufficiently paid to be entitled to a contributory pension.”
Conditions for receiving a non-contributory retirement pension
- Be 65 years of age or older.
- Reside in Spanish territory and have done so for a period of ten years between the age of 16 and the accumulation of the pension. Residence is mandatory for the two years immediately preceding the application.
Income ceiling for receiving a non-contributory retirement pension
- A person living alone: 7,250.60 euros per year.
- A cohabitation unit of two people (we add the income of the two members): 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 living with their parents or children: 30,815.05 euros per year in two-person dwellings, 43,503.60 euros per year in three-person dwellings and 56,192.15 euros per year in dwellings for four or more people.
Pension amount if you retire with 10 years of contributions
Generally speaking and according to the information collected on the IMSERSO website, the amount of the non-contributory retirement pension is 517.90 euros per month and 7,250.60 euros per year. In other cases, the amount is as follows:
- The amount of the 25% pension is 129.48 euros per month and 1,812.65 euros per year.
- In the event that 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.
- In the event that 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.
