Elma Saiz, the Spanish Minister of Inclusion, Social Security and Migration, has announced the signing of a new Social Security Agreement between Spain andthe United States to foster international labor mobility and with the main objective of favoring the transit of insured workers in both countries.
Main new items to be included in the new Agreement
Although still awaiting official publication, and as the minister has announced, the main new items affect the calculation of Spanish pensions, which will be more beneficial as two calculations will be carried out:
- A first calculation with the contributions in Spain only
- A second calculation is made by adding to these the contributions in the United States, with the citizen being paid the most beneficial.
Everything seems to indicate that this new agreement will alsoimprove the calculation of the regulatory base, as well as the relocation period, by extending it to 7 years:
- 5 years initial relocation
- 2-year extension for both employees and self-employed workers.
In addition, the new agreement (which will be an update of the one signed between Spain and the USA 38 years ago) will also incorporate the State Pension System.
Although no news has been announced in this regard, we hope this new agreement will extend the possibility of applying the agreement to international remote workers, which would significantly facilitate the regularization of this category and expand the possibilities of applying for visas for digital nomads in Spain.
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