Overview

Hammonds reports on new legislation in Spain (Royal Decree 8/2010) that has introduced several measures aimed at alleviating the effects of the current economic crisis.

There are three significant changes which affect employers and employees:

1. Suspension of the majority of pension increases for the financial year 2011;
2. Removal of the one-off payment on the birth or adoption of a child; and
3. Abolition of the transitional regime relating to partial retirement, provided by Law 40/2007. This
transitional regime temporarily lowered the access requirements to the partial retirement provisions
established in the Social Security legislation. Consequently, the access requirements have reverted
to the employee being 61 or over and having both contributed to the Social Security System for at
least 30 years and a minimum of six years’ service with the final employer.

Click ‘View Briefing’ to read the full article