The calculation is carried out in two steps:
- The regulatory base is calculated on the basis of the contributions of the last 24 years (computable period in 2021, from 2022 it will be the last 25 years). The regulatory base is an adjusted average of the contribution bases for that period.
- Depending on the length of time you have paid social security contributions, the pension will be a percentage of the regulatory base. With 15 years of contributions, 50% of the regulatory base is available. In 2021, 100% of the regulatory base is reached with at least 36 years of contributions. From 2027, at least 37 years will be required.