prejubilación

SF early retirement

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prejubilación

feminine

early retirement

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prejubilación nf

= voluntary leaving of job before entitlement to early retirement, with agreed benefits and/or additional payments, partly funded by the government

PREJUBILACIÓN

Early retirement (“jubilación anticipada”) is for workers aged 61-4. Retirement before 61 falls into the category of prejubilación, and as many as 60-70,000 Spaniards take this option annually, with the result that fewer than 40% of Spaniards aged 55-64 are economically active – some 10% lower than the current EU target for 2010. Prejubilación reduces costs for employers, and enables workers to leave a job on better terms than becoming unemployed, but it places a major burden on the cost of state pension provision.

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prejubilación

f early retirement