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الوطن
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Impact of early retirement on insurance
The article can be summarized as follows: The Social Insurance and Pensions Law states that early retirement benefits can be accessed before reaching the retirement age. However, these benefits are generally less than the pension one would receive if they continued working until the official retirement age. The amount depends on the contribution period, the settlement salary, and the age of the insured at the time of benefit request. The primary condition is that the contribution period must be at least 25 years, and the pension amount should be no less than 50% of the last salary or income, provided that the individual is not subject to old-age insurance at the time of application. The calculation of early retirement benefits is based on the settlement salary or income, the contribution period, and the insurance coefficient according to the age at entitlement. The longer the contribution period and the higher the settlement salary, the greater the pension value. Additionally, early retirement pensions are typically lower than the pension at full retirement, and their exact value varies from person to person based on insurance data. The length of the contribution period also influences the final pension amount, with longer periods resulting in higher benefits.
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