Spain plans to allow working while receiving pension

THE Spanish government is studying new measures which will allow older workers to remain employed and get a pension at the same time.

The Minister for Employment and Social Security, Fatima Bañez, said the plan is to reduce the number of early retirements to exceptional cases.

Data shows that more than half of workers retire before they are 65 and that the real average is around 62.82 years.

There is currently the option of partial retirement at 60, as long as they have been with the company for more than six years, and anyone over 65 can receive their pension and continue to work in exchange for a work-day reduction of between 25 and 75 per cent.

The minister also suggested that pensions should be more proportional to the amount paid into the social security by the person throughout their working life, instead of the last years.

The Cabinet will revise the work reformation which Bañez said will initially stop jobs from disappearing by introducing more flexibility so that dismissal is really the last option.

There are also plans for a training account which guarantees workers continued training while working, and changes to bonus policies and improved working hours.

Photo credit: Rastrojo