Social Security has a simulator on its website to check the approximate amount of what it will collect when it comes in
One of the big questions workers have, especially as they approach their age limit, is How much will they receive in their pension. Factors such as age, years of contribution, and organization base are the three primary factors for getting an idea.
Social Security has a simple simulator on their website that allows for an approximate calculation. This self-calculation service takes the data that it calculates into its database and Drops the current position Until your retirement date, which might be a huge leap of faith in such a volatile market. For this reason, it also allows the user to think of different scenarios as a file Enrollment in another system, unemployment or change of subscription base.
To calculate how much is charged in retirement, the payroll regulatory base is essential as the first data. This is obtained by adding the contribution rules for the last 300 payrolls, calculating 12 months for each the last 25 years from working life. This is because Set to 14 payThrough a simple arithmetic operation: multiply the contribution base by the years he contributed and divide by 14.
Once this regulation has been obtained, the percentage to be applied is calculated, which is based on years of contribution. The minimum collection is 15 years of contributions, i.e. 50% of the pension doubled thereafter. And in order to reach 100% of the amount, it is necessary to reach the legal retirement age (66 years and four months in 2023), in addition to justifying the administration’s 36 years and six months.
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