If you meet a number of conditions, you can stop working sooner
There are many employees who look forward to the moment when they can stop working. In Spain, the retirement age has been changing in recent years. The Spanish pension system is a changing model that adjusts the requirements and conditions for retirees. Currently, the retirement age is between 65 years or 66 and two months, but there are many instances where employees can end their employment early, for example at age 63.
In Spain, various forms of early retirement are allowed at the age of 63. The first option is to opt for voluntary early retirement, solely at the employee’s discretion. A maximum of two years before retirement age is allowed, possible from 63 years if you have paid contributions for at least 37 years and six months.
This type of retirement generally requires entry from a situation of registration or assimilation into social security, a minimum contribution of 35 years (two of these must take place between the last 15 and for the global calculation, one year from the ‘mili’ or substitute social benefit) and that the resulting pension is higher than the minimum amount of the corresponding pension.
Another type is the involuntary early retirement, which makes it possible to retire up to 4 years in advance and allows employees who meet a series of conditions to stop working at the age of 63: at least six months before the application and come from one of the following situations:
1. Collective redundancies for economic, technical, organizational or production reasons, in accordance with Article 51 of the Workers’ Statute (ET).
2. Dismissal for objective reasons, in accordance with Article 52 ET.
3. Dismissal due to force majeure considered by the competent authority.
4. Termination of the contract as a result of court decisions in proceedings within the Bankruptcy Act approved by Royal Legislative Decree 1/2020 of 5 May.
5. Death, retirement or incapacity for work of the individual entrepreneur, without prejudice to the provisions of Article 44 of the ET, or the destruction of the legal personality of the contractor.
6. The termination of the employment contract due to the existence of force majeure verified by the labor authority in accordance with the provisions of Article 51.7 of the ET.
7. Termination of the contract at the will of the employee for the reasons provided for in Articles 40.1 (geographical mobility), 41.3 (substantial change of working conditions) and 50 (violations by the employer) of the ET.
8. Termination of the contract at the will of the employee for being a victim of gender violence as provided for in Article 49.1. m from ET.
It is also possible to take advantage of early retirement because of the danger, hardship or toxicity of the profession. These cases can occur in certain jobs that pose a physical risk or vulnerability.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
