These are the 5 measures that come into force in January

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Within the Ministry of Inclusion, Social Security and Migrations, led by José Luis Escrivá, forges behind the scenes the second pension reform, which should have been approved at the end of December last year. However, the Government of Spain has not yet sent the standard to Brussels, although it is expected to do so before it closes this month of January. However, while waiting for this to happen, what will come into force in 2023 are some of the most important measures of the first pension reformwhich was approved in December 2021.

Among the changes to take into account with regard to the retirement pension, the new contribution system for self-employed workers according to their real net returns, as well as the Intergenerational Equity Mechanism (MEI) which will increase the prices by 0.6%. Another point to take into account has to do with the extension of the number of years considered to calculate the retirement pension, as well as the progressive uncapping of the maximum contribution base and the maximum pension, which will exceed 3,000 euros for the first time in history. However, it is not the only thing that changes.

Revaluation of retirement pensions based on the CPI

The Executive of Pedro Sánchez collected in the General State Budgets 2023 an increase of 8.5% for contributory pensions, that is, those paid by Social Security. In fact, the minister has sent a letter to nine million pensioners to let them know about this increase whose objective is to “ensure purchasing power” and “modernize” the pension system. Besides, non-contributory pensions, that is, those managed by the Institute for the Elderly and Social Services (Imserso), in collaboration with the autonomous communities, also rose, although they did so at a higher percentage. The minimum and maximum amounts increase by up to 15% as of this same January, although its payment will be made effective next February.

The retirement age increases by 13 months in the last decade

The standard age for backing out of the labor market is 67 years in the case of those workers who have contributed for less than 38 years and 6 months, and of 65 years if a contribution period of 38 years and 6 months or more is accumulated. In the case of voluntary early retirement, it will be 64 years and 4 months, for workers with less than 37 years and 9 months of contributions. For the rest, it will be 63 years. On the other hand, with regard to the involuntary early retirement, it stays at 62 years and 4 months for those who have less than 37 years and 9 months of contributions. For the others, it will be 61 years. In any case, anyone interested who requests it must have contributed for a minimum of 15 years and it will be necessary to meet a series of requirements such as toxicity, mortality, etc.

Another aspect that seeks to change, and that is contemplated in the second pension reform, has to do with improving the pensions of people with irregular careers. The objective is that they can be adjusted around three elements: computation period, exclusion of the worst years and gap coverage.

Extend the benefit of early withdrawal

Early retirement is an alternative that all workers can request. However, there are not many who dare because involves a reduction in monthly payments of their pensions. Precisely in this sense, it is necessary to legally some reducing coefficients are applied that penalize those who wish to retire voluntarily, but whose agreement does not contemplate it. In this line, only eight groups have this possibility in Spain, they are:

  • The workers included in the Mining Statute.
  • Aerial work flight crews.
  • railway workers.
  • The artists.
  • bullfighting professionals.
  • Firefighters at the service of administrations and public bodies.
  • The members of the Ertzaintza Corps and the Local Police.

Enhanced Active Retirement

Another point to take into account is that due to the shortage of primary care physicians, that is, family doctors and pediatricians in the National Health System, Enhanced Active Retirement takes effect. To be more exact, this new model will be accessible to those professionals who have retired on or after January 1, 2022 or, in another case, they would have previously received the same type included in the standard approved in May 2021, due to the coronavirus health crisis. In summary, full-time or part-time health workers will be able to access it, as long as the reduction in working hours is 50%, while they enjoy this improved active retirement and get 75% of your pension.

Sections of the new self-employed contribution system

The agreement reached by Escrivá with the social agents contemplated that the Modification of the quotes will be made progressively in 2023, 2024 and 2025. Another of the changes for 2023 has to do with increases the share of common contingencieswhich goes from 28.3% to 28.9%.

  • 28.9% for common contingencies.
  • 1.3% for professional contingencies.
  • 0.9% for cessation of activity.
  • 0.1% for professional training.

If the self-employed are quoted by common contingenciesaccess the coverage that corresponds to them in the event of retirement, permanent disability, widowhood, remuneration in periods of leave and other family benefits.

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