Proposal to stop cutting pensions for retirement with 40 years of contributions

Automatic summary, not yet reviewed

1. The bill would remove the reduction coefficients (pension cuts) for people who retire with 40 years of contributions, even if they retire early. It argues that today some people with long contribution records get less pension than others with fewer years.
2. The text says these cuts hit hardest among long-term unemployed people over 52, a group with high rates of long-term unemployment.
3. People already retired with 40 or more years of contributions could ask the INSS to recalculate their pension under the new rules. If the recalculation raises the pension, the increase would apply from the date of the request.
4. The rule would take effect on the day it is published in the Official State Gazette (Boletín Oficial del Estado).

Who it affects

• People with 40 years of contributions: Could retire early without a pension cut if they prove 40 years of contributions.
• People already retired with 40 or more years of contributions: Would benefit from the new no-penalty rule and could request a pension recalculation.
• Long-term unemployed people over 52: The group that, according to the text, suffers most under the current reduction coefficients.

Words worth knowing

Coeficiente reductor (reduction coefficient)

A percentage subtracted from the pension when someone retires before the legal retirement age.

Jubilación anticipada (early retirement)

Retiring before the legal retirement age while meeting certain requirements.

INSS

National Social Security Institute, the public agency that manages pensions.

Proposición de ley (bill)

A text in the form of a law introduced by members of parliament. It is not a law until approved.

It summarizes the text as it was introduced. It is written by artificial intelligence and may contain mistakes: the official text is what counts. Read the official text · How we make summaries