Government raises legal retirement age to 66 years and 10 months
The authorities have confirmed that the age to access public retirement increases to 66 years and 10 months starting this year. This adjustment is part of the schedule established in the 2011 law, which seeks to adapt the system to the increase in the population's life expectancy. The change directly impacts those who reach the age during 2026. To receive 100% of the benefit, not only must this age be reached, but also a minimum period of contributions must be accredited. 📈
Determine your pension amount under the new regulations
To know how much you will receive, the regulatory base is first calculated using the contributions from the last 25 years. The percentage applied to this base depends directly on the years you have contributed. With 15 years, you get 50%, and this percentage increases for each additional month until reaching 100% after 36 years and 6 months. Those who retire without completing this period will see their pension permanently reduced. You can check your history and make projections on the Social Security electronic headquarters.
Key steps to calculate your pension:- Review your work history to confirm the contributed periods.
- Calculate your regulatory base with the contributions from the last 25 years.
- Apply the corresponding percentage based on your total years contributed.
Planning your retirement requires a thorough knowledge of the age and contribution requirements to avoid surprises.
Ways to stop working before the legal age
There are options for early retirement. Voluntary early retirement requires having contributed at least 35 years and accepting reduction coefficients that decrease the final amount. Forced early retirement, due to reasons such as dismissal or hazardous working conditions, applies less severe coefficients. Special regimes for high-risk professions are also maintained. In all scenarios, a minimum of 15 years of contributions is mandatory, with at least 2 within the 15 years prior to applying for the pension.
Early retirement modalities:- Voluntary: 35 years contributed and acceptance of pension reductions.
- Forced: Due to causes beyond the worker's control, with lesser penalties.
- Special: For groups with professions that involve specific risks.
Adapt your plans to the new scenario
The formula for enjoying retirement now involves working a few more months. This progressive increase in the legal age is a reality that must be integrated into personal financial planning. Checking your situation with Social Security and simulating different scenarios becomes an essential tool for making informed decisions and protecting your financial future. 🔍