Workers born between 1958 and 1960 will be able to retire in 2025 and qualify for 100% of the pension as long as they meet certain age and contribution years requirements. Specifically, those who turn 66 years and 8 months or who turn 65 years and have paid Social Security contributions for at least 38 years and three months will be able to access the retirement pension by ending their working life.
It must be taken into account that the current public pension system is so complex and dynamic that sometimes workers do not know or are unaware of what their ordinary retirement age is or what exactly the requirements are to collect the maximum pension. And it is normal, since, for example, the requirements to retire and collect 100% in 2025 or 2026 They will not be the same as in 2027.
This is because, right now, there are two major reforms being implemented. On the one hand, the ordinary age, an ordinary legal retirement age, which, as we have said, changes every year until reaching 67 years in 2027. On the other hand, it is necessary to have a minimum number of years of contributions to be able to retire at 65 years old and this is also increasing every year. Thus, for each year, the age is delayed by a couple of months or the years of contributions necessary to retire at 65.
Who can retire in 2025 with 100% of the pension?
In 2025, the ordinary legal retirement age will be 65 years for those who have contributed at least 38 years and three months. If you have contributed less than that period, the retirement age will be set to 66 years and 8 monthsprovided that the established minimum requirements are met.
In this way, people born in 1957 and 1958 (depending on the month of birth) will be able to retire next year, since they will reach 66 years and 8 months. On the other hand, those born in 1959 and 1960 will be able to retire at age 65, as long as they have at least 38 years and 3 months of Social Security contributions.
Furthermore, to collect 100% of the pension it will be necessary to have contributed 36 years and 6 months, which should not be confused with reaching the maximum retirement pension.
Those born after 1961 will be able to retire, but through early retirement and without the right to 100% of the pension.
For workers born after 1961, retirement may be possible even before reaching ordinary age, but exclusively through early retirement, whether voluntary or involuntary. In these cases, Social Security requires, among other requirements, a minimum of 35 years of contributions for voluntary early retirement and 33 years for involuntary retirement. Now, this modality will have a cut on the amount and you will not be able to access 100% of the pension.
On the other hand, those who prefer to wait until the ordinary retirement age to receive the full pension should know the corresponding years according to their year of birth:
- Born in 1961: they will be able to retire between 2026 and 2028.
- Born in 1962: they will be able to retire between 2027 and 2029.
- Born in 1963: they will be able to retire between 2028 and 2030.
- Born in 1964: they will be able to retire between 2029 and 2031.
- Born in 1965: they will be able to retire between 2030 and 2032.
- Born in 1966: they will be able to retire between 2031 and 2033.
- Born in 1967: they will be able to retire between 2032 and 2034.
- Born in 1968: they will be able to retire between 2033 and 2035.
- Born in 1969: they will be able to retire between 2034 and 2036.