The second part of the pension reform devised by the Government contemplates three pillars: the creation of a solidarity quota, the rise in contribution rates linked to the Intergenerational Equity Mechanism (MEI) and the change in the calculation of the pension for the final calculation of the retirement benefit.
In response to the proposal of the Ministry of Inclusion, Social Security and Migrations, the reform includes two formulas to calculate the regulatory base with which the pension is determined. Specifically, the pensioner may choose between these two options:
The dual scheme to access the pension will be valid for 20 years. As of 2044, the pension will only be calculated with the last 29 years of contributions, from which two years may be discarded.
The decision to choose between one or the other formula will be made automatically by Social Security, acting ex officio and opting for the one that is most convenient for the pensioner, that is, the one that generates the highest income as a benefit.
The new option that is being introduced (29 years or 348 months excluding two years or 24 months) will be rolled out progressively over 12 years from 2027, which will especially benefit workers with irregular careers, according to the draft prepared by the Executive which has had access Europa Press. Specifically, the draft establishes that the extension to 29 years be carried out at a rate of four months per year from 2027 to 2038.
Thus, in the first year of deployment of this new option, 2027, the pension may be calculated with the last 300 months of contributions (25 years) or with the last 304 months of contributions (25.33 years), of which two may be discarded. months, so that the highest amount of 302 months of contribution (25.16 years) will be taken into consideration to determine the amount of the pension. Ex officio, what is most advantageous for the worker will always be applied.
In 2031, for example, the pension may be calculated either with the last 25 years of contributions or with 26.66 years of contributions (320 months), of which 10 months may be excluded, with which the effective period for calculating the pension it will be 25.83 years (310 months) or 25 years if it is more beneficial for the retiree.
In 2038, once this progressive extension of the calculation period that is offered as a new option has finished, the pension would be determined with 324 months of contributions (27 years) within the last 348 months of contributions (29 years) or with the last 25 years. contribution, depending on what is more favorable to the worker.
For the purposes of calculating the regulatory base of the retirement pension, when it occurs after December 31, 2026 and before December 31, 2040, the calculation period of 25 years will be applied if it is more beneficial than the in force on the date the pension is incurred, as indicated in the draft.
For pensions incurred in 2041, 2042 and 2043, the regulatory base on which the pension will be calculated will include the contribution bases of the last 306 months (25.5 years), 312 months (26 years) and 318 months (26 .5 years), respectively, when said calculation is more favorable than the one in force on the date the pension is incurred. As of 2044, the regulatory base of the pension will only be calculated with the last 29 years of contributions, discarding the two worst years.
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