2023-09-24 14:11:15
24/09/2023 and las 15:39 CEST
These are the ways in which you can increase the amount of money in your Social Security pension
everyone’s dream future retiree is power receive the maximum possible pension from the Social Security to retire in the most peaceful way and with the greatest economic well-being. Only with the money obtained from each year’s work we will not always be able to cover all our needs, so it is important Learn ways to increase this amount.
How to reach the maximum Social Security pension
The maximum pension is reached following contribute 37 years and 9 months to Social Security. However, the number will increase from 2024 until 38 years of contributions and following reaching the age of 66 years and 6 months. These changes are a result of new government pension planwith which it is intended that pensions enjoy a 70% increase by 2027. If we cannot reach the maximum pension, there are other two ways to increase the amount of money in our pension.
Delay retirement to increase pension
it’s possible Delay the ordinary retirement age to accumulate more contributions and obtain a larger monthly pension. When working beyond the age of 65, the amount can increase in a range that goes from 4,786.27 euros to 12,060.12 euros. There is no maximum limit, so everyone can adapt to their capabilities.
You can choose whether to receive this extra income directly or distribute it between monthly payments. In addition, Social Security also offers these options:
An increase of 4% for each additional year of contributions, which is added to the calculated pension. A fixed sum that varies between 5,000 euros and 12,000 euros for each year of additional contributions. The possibility of receiving a part of this amount on a monthly basis and another part in a single payment.
Pension compensation by the Government
To take advantage of this option it is necessary have a contributory pensionthat is, it is necessary to have worked at least for 15 years. Thanks to Royal Decree Law 3/2021, which seeks the reducing the gender gap, The Government will support those people who were harmed at the time by staying at home to take care of their children.
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