On January 11, 2022, the reform of articles 5, 23, and 24 of the “Regulation for Disability, Old-Age and Death Insurance of the Costa Rican Social Security” and the repeal of temporary provisions XII, XIII, XIV, and XV, were published in the official newspaper La Gaceta.
According to this reform, an insured party who reaches 65 years of age and who has contributed at least 300 installments, will be entitled to the Ordinary Old-Age Pension.
An insured party of 65 years of age who has not contributed 300 installments, but has accumulated 180 installments, can opt for the Proportional Old-Age Pension alternative under article 24 of this Regulation.
With this new reform, the early pension for men was eliminated while the pension schedule for women was adjusted according to the number of their installment payments under the following monthly scale:
For an insured party with Down Syndrome, given their genetic condition the minimum age for retirement is established at 40 years of age, as long as the person has made at least 180 monthly contributions.
It is established that the pension for old age or disability will be calculated based on the average of the best 300 salaries or monthly income earned and contributed by the insured party. If the pension is consolidated without the insured party having contributed 300 monthly installments,
the monthly salary or income as reported, updated for inflation, will be considered for the calculation of the average salary or income.
This reform is effective 24 months after its publication in the official newspaper La Gaceta.