This Social Security reports, in some cases, retirees will be able to get two pensions simultaneously throughout 2023. These situations occur under special conditions determined by law, and pensions are paid by private institutions or banks that are part of the public pension system.
Regulations and exceptions for receiving a double contribution pension
Article 163 of the Royal Decree of the Social Security Act specifies that in general, double-added pensions cannot be taken at the same time. However, there is legal or regulatory exceptions that allow pensions from different Social Security programs to be collected at the same time.
When is it allowed to receive two pensions at the same time?
A retired If you have contributed to two other plans, you can receive two pensions at the same time. Social Securityas well as those who are self-employed and who pay premiums as salaried workers in the general regime. To access this possibility, two requirements must be met:
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Have contributed at least 15 years in each program, including at least two in the 15 years prior to retirement.
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Be enrolled (or assimilated) into both regimes at the time of retirement. If this is not met necessityPremiums in both regimes must overlap for at least 15 years.
SSI explains there are other possible combinationssuch as the inclusion of a special regime for coal mining workers, marine workers and school insurance.
Calculation of two pensions: key factors
The amount of pensions will depend on several aspects. Social Security determines that the relevant percentages should be applied to the regulatory base, based on years of contribution.additional percentage and applicable reduction coefficient to extend working life if you retire at a higher age than the applicable normal age.
While calculating the pension, the contribution bases of the last 24 years (288 months) are taken and divided by 336. It is accepted that the premium years are taken into account in determining the percentage of the base to which the worker is entitled.It can range from 50% with 15-year contributions, increasing by:
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0.21% for each of the following 106 monthly contributions
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0.19% for each of the next 146 monthly contributions
especially, Even if two pensions are received at the same time, the total amount cannot exceed the maximum limit set for 2023.3,058.81 euros per month and 42,823.34 euros per year.