Costa Rica Pension Reforms
Costa Rica pension reforms went into effect on January 12, 2024. Introduced in 2021 the reforms modify pension regulations for Disability, Old-Age, and Death (IVM) benefits. The ‘Early Old-Age Pension’ is the pension with the most substantial modifications.
The CCSS made the reforms to improve the sustainability of the program primarily by acknowledging the country’s standard retirement age had remained unchanged since 1947.
The method of calculating will be from the best 300 monthly salaries or wages (adjusted for inflation) contributed by the insured. The following table outlines ages and contributions for early and regular retirement.
| EARLY RETIREMENT | BEFORE THE REFORM | AS OF 1/12/2024 | REGULAR RETIREMENT |
| Women | 59 years and 11 months with 450 contributions | 63 years with 405 contributions | 65 years with 300 contributions |
| Men | 61 years and 11 months with 462 contributions | The early pension is eliminated | 65 years with 300 contributions |
This information about pension reforms in Costa Rica is provided by CONFIA. If you need support with your employee benefits in Costa Rica, please contact Asinta, and we will put you in touch with CONFIA’s local experts.