Social Security will once again raise the contributions necessary to collect 100% of the retirement pension, although this will be the last increase, as established by the pension reform regulated under Law 27/2011. In this way, to receive the full pension it will be necessary to have 37 years of contributions, which is six months more than what is requested in 2026 (36 years and six months). Also change the way the coefficients are applied based on the years contributed.
The amount of the retirement pension depends on both the contribution bases and the total years of contributions, since this is established by the ninth transitional provision of the General Social Security Law, which was modified by Law 27/2011, which came into force in 2013 and establishes a transitional period until 2027.
Do not confuse the years of contributions with the retirement age, since they are two different concepts. That is, although the same denominator is used (years of contributions), it is used both to establish the ordinary legal retirement age and the percentage of the pension to which one is entitled.
Retirement pension based on years of contributions from 2027
Until now, with 15 years of contributions you were entitled to 50% of the regulatory base. From there, for each most quoted month of the next 49 months, an extra 0.21% of the regulatory base will be added and for the following months, an extra 0.19% will be added, until reaching 100%.
Starting in 2027 it changes and, although it is true that after 15 years you will continue to have the right to 50% of the regulatory base, the following coefficients change. In this case, for each additional month up to 248, 0.19% will be added and for the following 16 months, 0.18% will be added, so that with 37 years of contributions it will give 100%. The percentage table per year of contributions would be as follows:
| Listed Years | Regulatory Base Percentage |
|---|---|
| 15 years | 50% |
| 16 years | 52.28% |
| 17 years | 54.56% |
| 18 years | 56.84% |
| 19 years | 59.12% |
| 20 years | 61.4% |
| 21 years | 63.68% |
| 22 years | 65.96% |
| 23 years | 68.24% |
| 24 years | 70.52% |
| 25 years | 72.8% |
| 26 years | 75.08% |
| 27 years | 77.36% |
| 28 years | 79.64% |
| 29 years | 81.92% |
| 30 years | 84.2% |
| 31 years | 86.48% |
| 32 years | 88.76% |
| 33 years | 91.04% |
| 34 years | 93.32% |
| 35 years | 95.6% |
| 36 years | 97.84% |
| 37 years | 100% |
If you want to know what the pension would look like based on the regulatory basis, you can consult this table:
| Listed Years | Regulatory Base Percentage | Regulatory base €1,400 | Regulatory base €1,600 | Regulatory base €1,800 | Regulatory base €2,000 | Regulatory base €2,200 |
|---|---|---|---|---|---|---|
| 15 years | 50.00% | €700.00 | €800.00 | €900.00 | €1,000.00 | €1,100.00 |
| 16 years | 52.28% | €731.92 | €836.48 | €941.04 | €1,045.60 | €1,150.16 |
| 17 years | 54.56% | €763.84 | €872.96 | €982.08 | €1,091.20 | €1,200.32 |
| 18 years | 56.84% | €795.76 | €909.44 | €1,023.12 | €1,136.80 | €1,250.48 |
| 19 years | 59.12% | €827.68 | €945.92 | €1,064.16 | €1,182.40 | €1,300.64 |
| 20 years | 61.40% | €859.60 | €982.40 | €1,105.20 | €1,228.00 | €1,350.80 |
| 21 years | 63.68% | €891.52 | €1,018.88 | €1,146.24 | €1,273.60 | €1,400.96 |
| 22 years | 65.96% | €923.44 | €1,055.36 | €1,187.28 | €1,319.20 | €1,451.12 |
| 23 years | 68.24% | €955.36 | €1,091.84 | €1,228.32 | €1,364.80 | €1,501.28 |
| 24 years | 70.52% | €987.28 | €1,128.32 | €1,269.36 | €1,410.40 | €1,551.44 |
| 25 years | 72.80% | €1,019.20 | €1,164.80 | €1,310.40 | €1,456.00 | €1,601.60 |
| 26 years | 75.08% | €1,051.12 | €1,201.28 | €1,351.44 | €1,501.60 | €1,651.76 |
| 27 years | 77.36% | €1,083.04 | €1,237.76 | €1,392.48 | €1,547.20 | €1,701.92 |
| 28 years | 79.64% | €1,114.96 | €1,274.24 | €1,433.52 | €1,592.80 | €1,752.08 |
| 29 years | 81.92% | €1,146.88 | €1,310.72 | €1,474.56 | €1,638.40 | €1,802.24 |
| 30 years | 84.20% | €1,178.80 | €1,347.20 | €1,515.60 | €1,684.00 | €1,852.40 |
| 31 years | 86.48% | €1,210.72 | €1,383.68 | €1,556.64 | €1,729.60 | €1,902.56 |
| 32 years | 88.76% | €1,242.64 | €1,420.16 | €1,597.68 | €1,775.20 | €1,952.72 |
| 33 years | 91.04% | €1,274.56 | €1,456.64 | €1,638.72 | €1,820.80 | €2,002.88 |
| 34 years | 93.32% | €1,306.48 | €1,493.12 | €1,679.76 | €1,866.40 | €2,053.04 |
| 35 years | 95.60% | €1,338.40 | €1,529.60 | €1,720.80 | €1,912.00 | €2,103.20 |
| 36 years | 97.84% | €1,369.76 | €1,565.44 | €1,761.12 | €1,956.80 | €2,152.48 |
| 37 years (100% of pension) | 100% | €1,400.00 | €1,600.00 | €1,800.00 | €2,000.00 | €2,200.00 |
What happens if I have been contributing for more than 37 years?
In the case of retiring at the ordinary age with more than 37 years of contributions starting in 2027, Social Security will not take that surplus into account to increase more than 100%, unless you opt for a delayed retirement, that is, retiring beyond the ordinary age.
In this case, for each full year of contributions after reaching the ordinary age, add an additional percentage of 4% for each full year of contributions after that age or a third mixed option of both.