The National Institute of Social Security applies a series of calculations to determine the 'amount of our retirement. Today, the current pension system is to calculate contributions although, as we shall see, in some cases apply the calculation of salary and mixed.
This count is different on the basis of ' contributory pension accrued at December 31, 1995. But let us see how it applies to calculate pension contributions:
a) Firstly, the application is related to workers without seniority contributions to 01/01/1996. All contributions will be considered in the life of the worker. The applicability of the calculation will take account of four charges.: Deciphering
with maximum care and accuracy the amount of annual earnings of the worker is that it is a self-employed or quasi-subordinate employee;
then the calculation shall take into consideration the calculation of annual contributions on the basis of 'statutory rate (33% per employee, 20% self-employed, 19.70 per employee, latter' s may be an increase to 20% if the income exceeds € 39,297 per year).
b) Then calculate the column which is obtained with the addition of social security contributions for each year worked. Must be taken into account the appreciation in relation to annual rate of capitalization (determined by the average five-year change in gross domestic product).
c) Then apply to the post got its coefficient that takes into consideration the 'age of retirement, we quote below the relevant coefficients of applicability:
ETA' 57 coefficient is 4.720%
ETA '58 coefficient is 4.860%
ETA' 59 coefficient is 5.006%
ETA '60 coefficient is 5.163%
ETA '61 coefficient is 5.334%
ETA' 62 coefficient is 5.514%
ETA '63 coefficient is 5.706%
ETA' 64 coefficient is 5.911%
ETA '65 coefficient is 6.136%
pay system
With regard to the pay system, first of all the applicability cha refers to those possessing at least 18 years of contributions to 31/12/1995.
In this case we will proceed to take the average wage (if employed), income (if self-employed) for the last working years.
To perform this calculation based on the pay system, it will consider three essential elements:
a) Seniority pay: represented by all certified by the employee contribution (expressed also in his account contributions). Will not be considered if such contributions are compulsory contributions or not, or whether they are figurative or under repurchase contributory .
b) After determining the average salary (or income ) collected in the last working years. Which will be applied indexes istat predetermined annually.
c) will apply the 'rate corresponding to 2% of wages or income derived, taking into account that the above is applied to income not exceeding € 39,297 per year although it will decrease the amount for the older ages. From this we infer that if we calculate a pension with 35 years of pension contributions that we get will have a value of 70% of its earnings, however, if we were to draw a pension on 40 years of contributions the pension is equivalent to '80% of salary (making reference to the average of the last wage).
This type of pay system takes consideration in two parts: The first is the basis
seniority pay (acquired 31/12/1992). Expressed as the arithmetic average of the earnings (income or earnings) over the last five animals (260 weeks last pre-retirement).
The second tranche will take account of the contributory pension accrued to 01/01/1993. Or at the date of retirement. This time, the arithmetic mean is calculated on wages or income
if an employee on the last 10 years and over the last 15 years if self-employed. The
mixed system applies only to those who possess less than 18 years of contribution to 31/12/1995. In this type of calculation for mixed define the board will apply the pay system in part on seniority pay accrued to 31/12/1995, and still partially contributory system with regard to the contributory pension accrued to 01/01/1996.
be treated as a final factor accounted for those with a pension contribution of at least 15 years (after 5 of them pleasant to 1995), the possibility that their pension makes use of contribution-based only.
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