The new Benefit for Years Contributed is one of the most notable measures within the pension reform promoted in Chili. This is financial aid intended for those who are already retired and seeking to improve their monthly income. The objective is to recognize the years of contributions in the pension system, rewarding the efforts of older adults who have contributed during a large part of their working life.
What is the financial aid that will increase almost $100 thousand
The payment of the Benefit for Years Contributed will begin to be implemented as of January 2026, as announced by the pension authorities of Chili. Its delivery will be monthly and will accompany the amount of the usual pension of each beneficiary. The average increase will be around $98,000, depending on the years of contributions registered in the system. This measure seeks to alleviate the economic situation of older adults and reduce the existing gaps between men and women in pension matters.
Among the main requirements to access this benefit in Chili the age and years of contributions are found. People must be 65 years old or older and have a pension from an AFP or an insurance company. Regarding the time of contributions, the following is required:
- Women: at least 120 months (10 years) of contributions.
- Men: at least 240 months (20 years) of contributions.
- In both cases, a maximum of 25 years will be recognized. It should be noted that, starting in 2028, the contribution requirement for women will progressively increase until reaching 180 months (15 years) in 2035, reflecting a gradual adaptation within Chile’s pension system.
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The calculation of the amount that will be delivered through the Benefit for Years Quoted in Chili It will depend directly on the time worked. For every 12 months of contributions, 0.1 UF per month will be granted, with a maximum of 2.5 UF per month, which is equivalent to 25 years of contributions. In practical terms, those who reach the cap will receive an additional amount close to $98,174 along with their monthly pension.
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The impact of this help will begin to be felt in Chili starting in January 2026. Those who are already retired and meet the requirements will see the increase reflected directly in their monthly payment. For new pensioners who join after that date, the benefit will be applied from the first month of retirement.
