This is an old idea that has not yet been implemented and appears in the Social Consultation Agreement. The document signed on Saturday stipulates a mechanism that allows for partial retirement “before the legal retirement age,” which is currently 66 years and 4 months.
The document, signed by the government, the General Union of Workers and three employers’ unions, stipulates “the establishment of a mechanism that encourages a gradual and progressive transition from the labor market, allowing access to part-time retirement, with the accumulation of income from work, before the legal retirement age, in the logic of exchanging knowledge and experience.” Between generations.
Currently, early retirement pensions are allowed, but with a penalty of 13.8% (sustainability factor) plus a reduction of 0.5% for each month remaining until retirement age (or 6% per annum).
The idea of going ahead with part-time retirement, along with the possibility of working, has appeared from time to time in government documents, although it has never progressed.
The commitment containing the intention to proceed with the measure, which updates the Income Agreement, was signed on Saturday by the government, the General Confederation of Workers and three employers’ associations (CIP, CAP, CCP). The CGTP did not sign an agreement last year and the CIP was excluded this year.
The retirement age is 66 years and 4 months and will remain so for next year. In the following years, it should continue to rise.
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