Settlement to retire at 65 with 38.5 years of contributions

– To be able to collect 100% of your pension at 67 years, you must have contributed 37 years, that is, at least from 30 without interruption.
– From the CEOE says that 'they are not aware that the agreement is closed' and its president denounces "lack of loyalty" in the tripartite negotiations

Central Writing, January 27 (CERES TELEVISIÓN)

Government, unions and employers will sign on Wednesday February 2, the pact on pensions. The agreement took place last night, during a dinner in which they were present Zapatero and the representatives of the majority unions, UGT and CCOO, Cándido Méndez and Ignacio Fernández Toxo, respectively.
The proposal that the Government has put on the table, and that the unions see with good eyes, is that workers with 38.5 years of contributions could retire at 65 years of age. To retire with the full pension at 67, a contribution of 37 years must be added.
The new retirement age will start in 2013 and will extend until 2027. During those years, the working life of the worker will gradually increase, at the rate of one and a half months more each year.
The period for calculating pensions will also suffer a modification. After the reform, the last 25 years of working life will be taken into account, instead of the last 15 as in the past. The unions have accepted this proposal in exchange for extending the transition period to implement the new computation.

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