23 February 2024
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Currently, many people are considering starting their own projects as self-employed workers to enjoy self-management, flexible, vocational work and greater possibilities for economic growth. However, in contrast to all these positive points, there is a general concern: the retirement of the self-employed. This raises questions such as: are the benefits for self-employed retirees the same as those for salaried retirees? What contribution model do I need to improve my conditions tomorrow if I become self-employed? What is the minimum pension? We will answer all this and much more in the following post. Keep reading and don’t be left with doubts!
In this new year that has just begun, these are the two groups of salaried workers who will be able to retire:
In 2024, retirement regulations for the self-employed in Spain have undergone some important changes. Here we present a summary of the news on retirement conditions for this year:
It is important to remember that these changes are part of a pension reform that foresees a gradual increase in the ordinary retirement age from 65 to 67 between 2016 and 2027. Therefore, it is essential to stay up to date with the latest regulations to plan appropriately. The retirement.
There are some exceptions regarding retirement that you should take into account and that vary depending on the new regulations. Pay attention to the following points!
In 2024, the minimum pension for the self-employed in Spain will be established at 770,05 € per month, while the maximum pension for those who have contributed to the maximum base will be 3129,40 € per month. In comparison, for salaried workers, the minimum contributory pension for 2024 will be 521,42 € per month, while the maximum pension will be 3175 € per month.
It is important to highlight that, although the figures may seem similar, there are significant differences between the pensions of the self-employed and those of salaried workers, since the self-employed have the option of contributing for a minimum or maximum base, which can result in pensions lower if they have chosen to contribute for the minimum base during their working life. On the other hand, salaried workers contribute based on their salary, which can result in higher pensions if they have had higher salaries during their working life.
One of the advantages of contributing as a self-employed person is that they can change the basis for which they want to contribute up to six times a year, always conditioned by the real income they have in each financial year. Therefore, although the minimum and maximum pension figures may appear similar, the individual circumstances of each worker, whether self-employed or salaried, can result in significant differences in final pensions. Primarily, for this reason, it is essential for every worker to understand these differences and plan accordingly for their retirement.