How much would my pension be with 29 years of contributions?

One of the main doubts among those people who are close to retirement is the contribution time required by Social Security to be able to collect the full amount of this contributory benefit.. In this sense, one of the main requirements to access the retirement pension is to have contributed, at least, for a period of 15 years throughout your professional life.

Otherwise, you will be able to access a non-contributory pension, a possibility if the contribution period is not reached. On the other hand, the ordinary retirement age in 2023, since it increases gradually until 2027, is 65 years for people who have contributed for at least 37 years and nine months. If this time is not reached, those who have reached 66 years and four months will be able to access 100% of the pension.

Calculate the pension with this simulator

But, what happens if you have contributed for only 29 years? In this case, there is a right to collect the contributory pension, but the full pension cannot be reached if the established retirement age is not reached, that is, 66 years and four months.

Therefore, the amount of the pension will be calculated taking into account the regulatory base, the percentage of which will increase depending on the years of contribution.. With a minimum contribution of 15 years, you can collect the amount corresponding to 50% of the regulatory base. Then, for each of the first 49 additional months, 0.21% will be added to the base. From month 50 to 209, 0.19% is added.

To calculate what pension would correspond to you according to the years of contribution, in this case 29, Social Security has a simulator at its electronic headquarters that can be accessed at this link.