When retirement time approaches, every taxpayer is inevitably interested in the amount they will receive. Likewise, those who find themselves “at the window”, waiting to reach the necessary requirements, are often interested in finding out if there are measures that allow them to leave work earlier. It is the mix between these two considerations that we discuss today.
In fact, there are taxpayers who have the opportunity to choose between an early or deferred pension, thus influencing the amount of the pension allowance.
This principle is generally applicable to most workers, but today we look at a particular regulatory option available to some, like our reader.
“My name is Valentina and I’m about to turn 64. I have accumulated 20 years of contributions, but I am not among the pure contributors since my first credits date back to 1992. I would like to know if, being the mother of three children, I have the right to retire before the age of 67 and if, by postponing the exit, I could benefit from a better pension calculation coefficient. I’m trying to evaluate the best options for my retirement, without neglecting any details and without giving anything away to INPS. Could you tell me the best way?”
Retire at 63 or 66, or with a higher check: the choice is yours
In the current contributory pension system, postponing retirement means guaranteeing yourself a higher allowance. Anyone who decides to extend their working activity beyond the minimum requirements therefore benefits from a higher allowance. It is an obvious principle: the longer the contribution period, the greater the pension. However, it is also true that contributions are revalued according to inflation before being transformed into a pension through the transformation coefficients.
These coefficients are all the more favorable the later the age of leaving the world of work. Consequently, a worker who decides to retire at 64 years of age with 20 years of contributions will have a coefficient of 5.184%, while by postponing his exit to 67 years of age, with 23 years of contributions, the coefficient would rise to 5.723%, thus offering a double advantage.
Women: the discount on the chronological age or a better transformation coefficient
Valentina, our reader, can access a specific benefit for female workers, introduced by the Dini reform of 1995. Based on the number of children, female workers can choose between two types of benefits: a discount on the chronological age for the pension of ordinary old age or for early contributory old age, or a better transformation coefficient.
A woman with three children, for example, could retire at 63 rather than 64 with 20 years of contributions, thanks to the maximum one-year discount resulting from the four-month rule for each child. This discount is applicable even if the worker decides to retire at 67, being able to bring forward her exit up to 66 years of age.
Age discount or advantages in pension calculation
Alternatively, women can opt for a more advantageous pension calculation, giving up the age discount. If a woman chooses the one-year discount for having three children, leaving work at 63, the coefficient applied would be 5.028% instead of 5.184%. However, if you prefer a better ratio for having three or more children, you may benefit from a 5.531% calculation.
In this case, if he decided to work until he was 67, his pension would be calculated with the coefficient of those who leave at 69, i.e. 6.154%. With two children, the coefficient applied would be that for those who leave at 68, i.e. 5.931%.
These options give women the flexibility to maximize retirement benefits based on their personal needs and work history.
