The Method Of Calculating Pensions From 2022
The pension system will undergo different changes from 2022 due to the reform designed by José Luis Escrivá, Minister of Inclusion, Social Security and Migrations. This remodeling will affect the revaluation of benefits, the different types of early retirement or delayed retirement . However, they will not be the only changes for pensioners.
The reason is that from 2022 the calculation of pensions will also change , which in the next year will have different variables when it comes to establishing both the regulatory base and the ordinary retirement age of workers.
These changes have nothing to do with the reform that Escrivá plans (and which still needs the pertinent parliamentary approval), since they correspond to the pension reform of 2011 that drew up a calendar that increased the requirements to access a retirement pension based on a transitional period ending in 2027.
Before starting with the calculation of the pension, workers should know that the ordinary retirement age will rise to 66 years and two months ( the current one is 66 years ) for all citizens who do not reach 37 years and six months of contributions (now 37 years and three months), although it will remain at 65 years if that amount is reached. All retirements below that age, as long as they comply with the regulations, will be early retirements, whatever their modality.
With this clear, the worker will find new features when calculating the pension: to determine what the regulatory base will be, the contribution bases of the last 25 years (300 months) will be taken into account , instead of the 24 ( 288 months) of 2021. This amount will be divided by a divisor of 350 , instead of the applicable divisor of 336 for 2021.
This will force aspiring pensioners to focus one more year on having good contribution bases to achieve the goal of a pension with a certain value. The increase in the retirement age (two months) and the reference date (it has been increased by three months) go along the same lines that José Luis Escrivá also pursues: equating the real age and the effective retirement age in Spain.
What will remain unchanged in 2022 is the way to determine what percentage of the regulatory base will make up the amount of the pension. To access the minimum pension or 50% of the regulatory base, it will take 15 years of work . As of that date, for each of the first 106 months worked, an extra 0.21% of the regulatory base will be added, while for each of the following 146 months, 0.19% of the regulatory base will be added.
With these percentages, the worker will be entitled to 100% of the regulatory base once he has accumulated 36 years of work. If you reach that amount, in the later years of your career you will ‘only’ have the objective of maintaining a regulatory base that conforms to your objectives in order to enjoy a sufficient pension when you retire.