The Social Security simulator to calculate pension if you delay retirement


The Ministry of Inclusion, Social Security and Migrations has carried out a number of actions to guarantee the sustainability of the benefit system that gives it its name, trying to ensure the greatest number of contributions by offering job opportunities for people in situations of unemployment and at the same time urging the workers who are going approaching minimum retirement age to continue developing their work activity, instead of taking advantage of the possible benefits of delaying the end of their economic activities.

In this sense, from time to time the aforementioned minimum age and the years that must contribute to be able to access the benefits are raised in their entirety. The same reasoning used to restrict the conditions to be able to enjoy a pension before ordinary age, in addition to considerably reducing the benefits for those who make the decision to end their working lives prematurely. On the other hand, citizens are also invited to delay your retirement with certain complements designed to motivate them, factors that can be calculated in the retirement simulator offered on the Social Security website.

How the Social Security simulator works

The portal called Your Social Security has made this tool available to citizens to calculate the effect of these incentives on their pensions. Interested parties must enter the portal and specify if they are the interested parties, in which case they will act on their own behalf, or if they are representatives or authorized from someone else.

They can identify with their electronic certificate or Cl@vebut they can also request that a text message be sent to their mobile (SMS) with which they will have to fill out a form with their identity document, date of birth and telephone numberafter which they will receive a security code with which they can enter.

The time that the worker has contributed and the estimated time left to retire are the main data handled by the simulator, based on the ordinary retirement agethe date on which it would be reached and other personal situations that could affect it.

The benefits that this tool calculates for those who delay their retirement can be chosen among the options offered to the beneficiaries: an additional percentage of 4% for each year of contribution after reaching the ordinary age; a lump sum amount per year of contribution that goes from 5,000 to 12,000 euros approximately, or a combination of both.

Leave A Reply

Your email address will not be published.