Retirement Requirements: Steps, Causative Event and MORE

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If you want to apply for your pension and you are thinking of looking for information about the process, keep reading. In this article we detail the requirements for retirement that are required by law, the step by step, the legal aspects to consider, the causative events and much more.

In this sense, retirement it is an administrative action Through which a worker in an active, independent or labor dependent condition, goes into inactivity. All this once the maximum age is reached, or due to a serious health condition or disability. Consequently, a monetary benefit is received for life.

It is important to mention that the labor laws of each country establish different conditions. All this with the purpose of counteracting the loss of income that originates from the work stoppage. Those benefiting from retirement are granted an economic benefit consisting of a payment every month.

What are the Retirement Requirements?

The most important requirement To request retirement in Spain, it is to be registered in the social security system, then other requirements must be met to retire, which are mentioned below. All this considering four fundamental aspects for the withdrawal request:

General retirement:

This type of retirement can be requested by affiliates, those who are in the condition of registration or assimilated to registration:

  • According to the regulations, this type can also be chosen by registered applicants, who are not registered or assimilated on the date of the event causing it.
    • The previous condition can be chosen if and only if the applicant meets the requirements of the age and stipulated contributions.

Retirement by age:

In this case, the applicant must have At least sixty-seven (67) years of age in 2027. However, a transitional condition has been stipulated as of Jan 1, 2013, which begins:

  • From sixty-five (65) years of age, you defer retirement on the basis of 1 month per year from 2013 to 2018.
  • Another condition is that the withdrawal is postponed on the basis of 2 months per year from 2018 until 2027, until the applicant reaches the age of sixty-seven (67).
  • It also allows retirement at sixty-five (65) years, if the worker has paid a minimum of years that increases from 35 to 38 and a half years by 2027. All based on a quarterly period for each year.
  • In this type of retirement, anticipated cases are discarded.

An example of the condition transitory It is the retirement in 2020 of applicants with sixty-five (65) years and ten (10) months. Another example is applicants who have paid for 37 years, being 65 years old.

Retirement for the contribution period:

In this type of retirement the payment time The minimum is fifteen (15) years to have the right to a tax withdrawal. It is available to all workers registered with the social security system, as well as assimilated.

Retirement due to causal event:

This type of retirement is enabled when in the day after retirement from work activities, the applicant is registered in the social security system. This case occurs on the day the application is submitted, as assimilated or registered. Also, 2 cases are excepted:

  • In the event of forced excess, the day of the term in office that led to assimilation.
  • Due to moving abroad.

Steps to Take to Retire

One time identified and determined the causal event to make the request and after validating compliance with the requirements to retire, the interested party must follow the following step by step:

  • Make the request through website of the social security system, for which you must have a DNI in electronic format, to:
    • Make the request through the registration of the electronic headquarters of the aforementioned institution.
    • In addition, the request can be made through any social security information and service center in the country. For this option it is necessary to make an appointment.
  • Only in necessary cases is it essential to present:
    • The DNI.
    • Family book in case it is required to certify the existence of the couple in charge. As well as to make the request to supplement to a minimum and increase the rent if it is low.
    • It will also be necessary to supply a bank account number to make pension payments each month.
  • In case of wanting to receive a supplement due to childbirth or care of descendants, it is necessary to present the Family book.

It is important to mention that the procedure for authorization retirement is fast. In a few days the applicant receives a message on his personal phone indicating that the application has been approved. Subsequently, the social security will send by email a certificate signed by the corresponding authority with the pertinent information.

In any case the legal time to attend and communicate the response is ninety (90) days, counted from the date the request was made.

Requirements for Retirement. Causing Fact

The causative event is the event that generates the protection condition, which has been determined by law or by regulations on a specific date. An example of this is death, giving rise to the event causing the widow’s income or the day of medical leave due to provisional disability, among others.

How is the Quoted Period Determined?

To determine the quoted time, The years and months will be taken into account in their entirety, without equating the fractions of time to a year or a month. Likewise, to determine the age of right to retirement, in addition to the days actually paid by the applicant, the following aspects will be taken into account:

  • The days that are determined as actually quoted, in accordance with the provisions of the Law, as a result of the excess time that the applicants have.
  • The time determined as the period paid as a result of the merit for the custody of descendants or minors received, in accordance with the provisions of the law.
  • The periods of assimilated payments due to childbirth that are counted in favor of the retirement application, in accordance with the provisions of the law.

Legal Aspects to Take into Account to Retire

  • From January 1, 2013, the age required to apply for the pension will be subject to the age of the applicant and the payments made throughout the working life. All this in complying with the age requirements required by law to retire:
    • Sixty-seven years (67) years.
    • In case of proving thirty-eight (38) years and six (6) months of payments, the age may be sixty-five (65) years.
    • The latter will be required, provided that the withdrawal is required without being registered or assimilated to the latter.
    • The age to request retirement and the payment times indicated in the previous sections will be applied gradually, according to the conditions indicated in the law.

In none of the cases, where the ratio for normal age for retirement is used; It will allow the applicant to claim the pension with an age less than fifty-two (52) years. This limitation will have no effect on applicants with special conditions, such as mining and the sea.

Retirement Requirements What is it?

In this sense, retirement it is an administrative action Through which a worker in an active, independent or labor dependent condition, goes into inactivity. All this once the maximum age is reached, or due to a serious health condition or disability. Consequently, a monetary benefit is received for life.

In this sense, for the purpose of counteract the decline of income that originates from the work stoppage. Those benefiting from retirement are granted an economic benefit consisting of a payment every month.

It’s important to mention that the labor laws of each country establishes different conditions. Likewise, the retirement benefit is for life and only expire with the death of the pensioner. The amount of the benefit can be based on various rules, for example:

  • Through the actuarial method, it is determined in relation to the number and amount of the contributions made by the beneficiary.
  • By means of the substitution criterion, this is determined from an established proportion of the total amount of income in the course of the applicant’s working life.

On the other hand, in almost all retirement systems of the public sector to achieve retirement it is essential to obey certain requirements to retire, for example:

  1. Age, in almost all countries the required age is close to 60 and 65 years.
  2. Also requesting early retirement for reasons of disability of the applicant. This requires some additional medical requirements to confirm such a condition.
  3. In the case of being affiliated with a contribution system, income often depends on whether or not the beneficiary complies with the minimum number of years of contributions required by social security.

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