There are two ways in which a person who contributes to the Ecuadorian Social Security Institute (IESS) can choose to retire.
One of them is if due to a disability, which implies that a member has a chronic illness, which has been diagnosed and has received treatment for more than six months without therapeutic response or which has left permanent sequelae. Given this, it is necessary to have a minimum contribution time in the Insurance.
IESS: How is the retirement that I will receive calculated?
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On the other hand, for people with a disability equal to or greater than 30%, you can retire if you meet one of the conditions: for any type of disability it is necessary to have 300 deposits or if you have an intellectual disability it is necessary to have 240.
Another way to retire is to opt for a pension that is requested for old age. In the same way, in this case it is necessary to have a minimum of impositions and age. Thus, in order to apply, you must have:
- 480 impositions or more with no age limit.
- 360 deposits or more and turning 60 or older.
- 180 taxes or more and turning 65 or older.
- 120 or more deposits and turning 70 or older. (YO)
Source: Eluniverso
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