If you meet a series of conditions, you can stop working early
There are many workers who look forward to the time when they can stop working. In Spain, the retirement age has been changing in recent years. The Spanish pension system is a changing model that is modifying its requirements and conditions for pensioners. Currently, the retirement age is between 65 years or 66 and two months. However, there are many cases in which workers can end their employment stage early, for example at 63 years of age.
In Spain, various types of early retirement are allowed at age 63. The first option is to choose voluntary early retirement, exclusively at the will of the worker. Up to two years in advance of retirement age is allowed, being possible at 63 years of age if you have contributed for at least 37 years and six months.
This type of retirement generally requires access from a situation of registration or assimilation in the Social Security, a minimum contribution of 35 years (two of them must occur between the last 15 and for the global calculation, one year from the ‘mili’ or substitute social benefit) and that the resulting pension is higher than the minimum amount of the corresponding pension.
Involuntary Early Retirement
Another type is involuntary early retirement, which makes it possible to retire up to 4 years in advance and allows those employees who meet a series of requirements to stop working at the age of 63: be registered as a job seeker at least six months before the application and come from any of the following situations:
1. Collective dismissal for economic, technical, organizational or production reasons, in accordance with article 51 of the Workers’ Statute (ET).
2. Dismissal for objective reasons, in accordance with article 52 of the ET.
3. Dismissal for reasons of force majeure contemplated by the competent authority.
4. The termination of the contract due to judicial resolutions in processes within the Bankruptcy Law approved by Royal Legislative Decree 1/2020, of May 5.
5. The death, retirement or disability of the individual entrepreneur, without prejudice to the provisions of article 44 of the ET, or the extinction of the legal personality of the contracting party.
6. The termination of the employment contract due to the existence of force majeure verified by the labor authority in accordance with the provisions of article 51.7 of the ET.
7. Termination of the contract at the will of the worker for the reasons provided for in articles 40.1 (geographical mobility), 41.3 (substantial modification of working conditions) and 50 (employer breaches) of the ET.
8. The termination of the contract at the will of the worker for being a victim of gender violence provided for in article 49.1. m from ET.
It is also possible to benefit from early retirement due to the danger, hardship or toxicity of the profession. These cases can occur in certain jobs that pose a physical risk or vulnerability.
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