A stage of tranquility and disconnection
After dedicating many years of work and effort, all workers long to reach retirement. This stage of life brings tranquility and the possibility of disconnecting from work responsibilities. It is a time to enjoy life and realize pending plans. Without having to look at the clock or the calendar, traveling can become an enjoyable routine.
Pension and retirement age
Once their working life ends, retirees receive a pension that is calculated based on the years they contributed to Social Security (https://www.softcatala.org/resum-de-textos-en-catala/). The ordinary retirement age has been delayed over the years, and in 2024 it is already set at 66 years and 6 months for workers with less than 38 years of contributions. Those who exceed this number will be able to retire at 65.
The amount of the pension
The pension is received in 14 annual payments. 12 correspond to each month of the year, while the 2 additional payments are paid in June and December, before summer and Christmas. However, there are exceptions and not all retirees receive this extra amount.
Exceptions to the June extra pay
There are cases in which pensioners do not receive the full extra pay for the month of June. For example, those with prorated pensions -12 payments- will not receive this increase (https://www.softcatala.org/resum-de-textos-en-catala/). Neither do pensioners with permanent disabilities due to occupational diseases or accidents at work. In addition, beneficiaries with outstanding debts to the Treasury or Social Security may receive only a percentage of the extra pay.
Seizures and retentions
In case of outstanding debts, the pension may be seized. According to the Civil Procedure Law, pensions, wages or remuneration that do not exceed the Interprofessional Minimum Wage are considered ‘unseizable’ (https://www.softcatala.org/resum-de-textos-en-catala/). The garnishment percentage varies depending on the outstanding debt. 30% is applied for the portion of the pension between SMI and double SMI, 50% for the portion between double and triple SMI, 60% for the portion between triple and four times the SMI, and up to 75% for the portion that exceeds four times and reaches five times the SMI (https://www.softcatala.org/resum-de-textos-en-catala /). In the case of pensions, the maximum monthly amount in 2024 is 3,175 euros, therefore, the maximum seizure would be 50%.