The Ministry of Inclusion, Social Security and Migration, headed by Elma Saiz, has approved a new special agreement that allows thousands of workers to increase their retirement pension by adding up to five years of contributions for internship or training periods. This increase of contribution period improves the amount of the pension, allows access to a contributory pension with less than 15 years of contributions, and allows you to retire at 65 instead of 66 years and six months, if you are over 38 years of contributions.
To benefit from this agreement, workers must meet certain requirements stipulated in the General Social Security LawThey must prove that they have completed unpaid internships or research programs before November 1, 2011 and the periods of unpaid internship They will be calculated up to a maximum of five years until January 1, 2024. Borja Suárez, Secretary of State for Pensions, explained that this agreement, valid for two years, allows the contributions to be recovered through a single or split payment, updated on Interprofessional Minimum Wage (SMI).
Social Security grants 5 years of contributions
Under the leadership of Elma Saiz, the Ministry of Inclusion, Social Security and Migration approved a new special agreement which offers the opportunity to improve the retirement pensions of workers who have completed unpaid internships.
This measure allows beneficiaries to add up to five additional years to your contribution historya crucial aspect to optimize the conditions of your retirement. This agreement is especially aimed at university graduates, professionals in vocational training, artistic and sports education, as well as researchers and doctors who have participated in training programs, both in Spain and abroad.
Requirements
To benefit from the agreement, workers must meet certain conditions. They had to do unpaid internship before November 1, 2011which will be calculated for a maximum period of five years until January 1, 2024.
Furthermore, the internship periods carried out within the framework of university studies or doctoral programs may also be included. The process for subscribing to the agreement is relatively simple, but particular attention must be paid to the deadlines. Interested persons must formalize their request before December 31, 2028, via the section “Procedures and terms of special agreements” on the Social Security website.
Once the request is accepted, the quote calculation will be based on the contribution rate for common contingencies of 28.30% applied to the minimum contribution base of group 7 in 2024, with a reduction of 33%. This system, revised to significantly reduce costs, offers single or staggered payment options. Beneficiaries who have already bought back two years under the 2011 regulation will be able to make up to seven additional years of contributions with this new agreement.
This advantage reinforces the value of careers in science and educationand highlights the importance of training and the efforts invested in these areas. With this measure, the Government not only offers financial compensation, but also promotes the recognition of the contribution of these professionals to scientific and technological progress. Thus, the special agreement presents itself as a valuable opportunity to improve retirement prospects and recognize the work carried out during the training phase.
Increase in retirement age
From 2025, the ordinary retirement age in Spain will see a further increase, settling at 66 years and 8 months for those who have not contributed for at least 38 years and 3 months. This measure is part of a progressive reform promoted by José Luis Escriva, former Minister of Social Security, Inclusion and Migration, and has the approval of Brussels. The reform aims to guarantee the sustainability of the pension system in a context of an aging population.
This regulation mainly affects the “baby boom” generation, born between 1958 and 1962, who will begin to retire en masse from 2023. In 2024, the legal retirement age will be 66 years and 6 months for those who have contributed less than 38 years old, while those who have contributed for 38 years or more will be able to retire at 65. With the current reform, the process of gradually raising the retirement age, which began in 2013, will reach its peak in 2027, when the ordinary retirement age will be 67 years and will increase the contribution period required to receive 100% of the pension.
For those who wish take early retirement in 2025It will be possible to do so up to 24 months before the ordinary age, that is, from the age of 63, but with penalties. The maximum reduction in the amount of the pension will be 21% for those who have less than 38 years and 6 months of contributions and who advance their retirement by two years. On the other hand, those who have contributed for more than 44 years and 6 months can benefit from a minimum reduction of 2.81% if they advance their retirement by just one month.
