Early retirement

Two named routes, two different conditions

Early retirement at 60 needs 480 months (40 years) of insurance, under a WIDER basket of affiliation periods. Early retirement at 57 needs the same number of months — 480 months (40 years) — but counted under a single, NARROWER article: this is not a shorter period, it is a narrower basket of periods that count toward it.

No percentage reduction

Unlike many neighbouring systems, neither early route applies a percentage reduction to the pension. The amount is simply worked out with the ordinary formula, run over your actual career — shorter than at 65, so mechanically smaller because fewer years have accrued, but with no extra penalty layered on top. Because there is no reduction to begin with, there is also nothing to restore if you keep drawing the pension past 65.

A requirement that can grow with the year

For the 60-year route, the required 480 months can be extended by a growing number of extra months depending on the calendar year you reach that threshold, under a transitional schedule running through 2030. The 57-year route is expressly exempt from this increase.

Working while drawing an early pension

A limited amount of paid work stays compatible with keeping the pension, as long as it stays below a threshold tied to the social minimum wage. Above it, a separate reduction regime applies — not detailed on this page.

How the amount is worked out

The full early-pension calculation follows the same two-component formula as the ordinary pension, set out on the pension calculation page.