Workers who have only a few years left until retirement make all the necessary calculations to reach the minimum pension. pension It was established by Social Security. The amount each person receives depends on the length of time they contribute, and calculations are made to determine the pension amount based on those years.
Establishes a public institution It takes at least 15 years for workers to start receiving a contributory pension. pension. However, many citizens over the age of 65 do not meet this requirement, so Social Security has protocols to take action in these situations. In order to receive this assistance, you must meet certain conditions.
What does Social Security require?
All employees who are under the minimum age of 15 for access pension The participant and the access request must fall within the parameters set by SSI. The first is that the applicant’s annual income is less than 5,899.60 euros, but if he lives with family members, this requirement will be met if the sum of the incomes of all members of the family unit is less than the amounts collected. in any case, especially according to tables where “income or lack of income” is recorded.
It is also necessary to reside in Spain to benefit from this aid. If you want to start retirement processes, a minimum period of 10 years is determined, at least two of which must be taken before the application. Once you start taking it, it will last a lifetime as long as the required minimums continue to be met.
How much will I get?
IMSERSO establishes a net amount of EUR 5,899.60, paid in 12 monthly installments and two extraordinary payments per year. Additionally, Social Security will give you an individual amount for each retiree based on that amount and based on the number of beneficiaries living in the same household, their personal income, and/or the income of the economic units they live with. less than a minimum of 25% of the specified amount. Thus, the monthly minimum will be 105.35 euros and the maximum will be 421.40 euros.
This revenue will be subject to periodic reviews to recalculate the allocation. In this way, the beneficiary may receive more or less amount depending on his subsequent income.