Knowing how much will be collected upon retirement requires something more than knowing the last salary. Social Security has a simulator that uses the data it has recorded for the worker to estimate both the date of access to retirement and the approximate amount of the pension.
The tool also allows certain assumptions about future work life to be modified. That possibility is useful for comparing scenarios without yet submitting a retirement application.
How to enter the official simulator
Access is made from the Social Security retirement pension simulation service. Among the available identification methods are Cl@ve, digital certificate, electronic DNI and SMS.
To use SMS, the phone number must match the one reported to Social Security. If the number has been changed, it is advisable to update it beforehand through Importass.
Once identified, the user must access the option to simulate their retirement and complete the information requested by the application. The result can be downloaded in a PDF report to save it and review it later.
What data it uses to calculate the pension
The simulation starts from the real information that appears in the Social Security databases at the time of the query.
From that date, it projects the employment situation into the future. It also allows changes to be entered, such as a period of unemployment, a modification of the contribution base or registration in another regime.
Here is one of the keys to interpreting the result: part of the calculation is based on data already recorded and another on assumptions about what will happen until retirement.
How to compare two scenarios without getting confused
For the comparison to be useful, it is advisable to modify only one variable at a time. For example, first save the initial simulation and then check what happens when the expected work trajectory is changed.
It is also advisable to note the date of each query. Two estimates made at different times may incorporate new contributions or updated data.
The amount obtained is an estimate. It does not replace the resolution that will recognize the pension when it is requested nor does it make the assumptions entered definitive.
Before making a decision, it is worth reviewing the employment history and contribution bases. If periods are missing or incorrect amounts appear, the first step is to clarify those data.