Every year, a single basic salary is defined before the end of the year, with the increase that is defined, the values ​​of fines, contributions to the Ecuadorian Social Security Institute (IESS) and even old age pensions also change.

The basis for calculating the pension is equal to the average of the five years of the best salaries for which it was paid. For the calculation, it is multiplied by the annual coefficient of paid or paid years.

In resolution CD 300 of the IESS, the minimum and maximum payment that the contributors will receive is determined in accordance with the current basic salary. Likewise, it is necessary to meet the maximum time to achieve the highest value.

How to make a BIESS unsecured loan for pensioners?

Daniel Noboa’s government ordered an increase in the basic salary by ten dollars in 2024, due to which the compensation rose from $450 to $460.

For 2023, the minimum fixed payout is $230, while the maximum is $2,530. These are the other values ​​corresponding to this year:

Minimum IESS pensions for 2024:

Age ranges contributed SBU percentage Minimum pension in 2024
Up to 10 years fifty% 230 dollars
11 to 20 years 60% 276 dollars
21 to 30 years 70% 322 dollars
31-35 years old 80% 368 dollars
36-39 years old 90% 414 dollars
40 years and more 100% 460 dollars

In the case of Montepía, the value is $230.

Maximum IESS pensions for 2024:

Age ranges contributed SBU percentage Maximum pension in 2024
10-14 years 250% 1150 dollars
15-19 years 300% 1380 dollars
20-24 years old 350% 1610 dollars
25-29 years old 400% 1840 dollars
30-34 years old 450% 2070 dollars
35-39 years old 500% 2300 dollars
40 years and more 550% 2530 dollars

The maximum disability and disability pension is equivalent to $2,070.