Ecuador's IESS pension formula explained

The Instituto Ecuatoriano de Seguridad Social (IESS) calculates old‑age pensions by first averaging the five highest recorded salary years of a contributor. That average is then multiplied by a coefficient that depends on the total years of contributions. A contributor with 40 or more years of contributions receives a coefficient of 1.00, meaning the pension equals the average salary. Those with 30 years receive a coefficient of 0.75, and lower coefficients apply for shorter contribution periods.

Retirement can be requested under any of several conditions: at least 40 years of contributions regardless of age; at 60 years of age with 30 years of contributions; at 65 with 15 years of contributions; or at 70 with 10 years of contributions. Minimum and maximum pension amounts are set each year according to the current unified basic salary.