Early retirement is a Social Security modality that allows the pension to be brought forward with respect to the ordinary age. In exchange for enjoying the pension earlier, Social Security will apply reducing coefficients that will be higher or lower depending on the months advanced and the total number of years contributed throughout one’s working life. In the case of involuntary early retirement, even if it is for reasons beyond the worker’s control, Social Security may remove up to 30% of the final amount.
Involuntary early retirement allows the ordinary retirement age to be advanced up to four years. This means that, in 2026, you will be able to access this modality from the age of 61 if you have contributed for more than 38 years and three months, or from the age of 62 years and 10 months if you have contributed for at least 33 years, which is the minimum required.
In addition, it is necessary to be registered or assimilated to registration in Social Security and to have been registered as a job seeker, at least, for the six months immediately preceding the date of applying for retirement.
This modality is intended for those who lose their job for reasons beyond their control, such as a collective or objective dismissal, the termination of the contract due to a judicial resolution, force majeure or due to business circumstances such as the retirement or death of the employer. It is also considered whether it is the worker himself who terminates the contract due to geographical mobility, substantial modification of working conditions, serious breaches by the employer or, in the case of women, for being victims of gender violence.
Now, why is it penalized if retirement is involuntary? The reason is that, even if the cessation of work has occurred for reasons beyond the worker’s control, the decision to retire before the ordinary age remains at the worker’s will. That is, Social Security cannot force anyone to retire early. For this reason, and given that it is the worker himself who requests access to the pension early, reducing coefficients are applied. Of course, in this case, these coefficients are lower than those applied in voluntary early retirement.
Up to one third less than the pension amount
The reduction coefficients applicable to involuntary early retirement can range between 0.5% and 30%, depending both on the number of years of contributions and the months ahead of the ordinary retirement age (remember that in Spain there are two legal ages depending on the contribution career).
The reducing coefficients will be the following that apply, they are the following:
- Less than 38 years and six months of contributions: the cut will be 30% if the advance is four years, 22.5% if it is three, 15% if it is two and 5.5% if one year is advanced.
- Between 38 years and six months and 41 years and six months of contributions: the reduction will be 28% with four years in advance, 21% with three, 14% with two and 5.25% with one year.
- Between 41 years and six months and 44 years and six months of contributions: the cut is 26% if retirement is anticipated by four years, 19.5% if it is three years, 13% if it is two years and 5% if it is one year.
- More than 44 years and six months of contributions: the penalty will be 24% with four years in advance, 18% with three, 12% with two and 4.75% if the advance is only one year.
| Retirement months early | With less than 38 years and 6 months of contributions | Contributed period equal to or greater than 38 years and 6 months and less than 41 years and 6 months | Contributed period equal to or greater than 41 years and 6 months and less than 44 years and 6 months | Contributed period equal to or greater than 44 years and 6 months |
|---|---|---|---|---|
| 4 years – 48 months | 30% | 28% | 26% | 24% |
| 47 months | 29.4% | 27.4% | 25.5% | 23.5% |
| 46 months | 28.8% | 26.8% | 24.9% | 23 % |
| 45 months | 28.1% | 26.3% | 24.4% | 22.5% |
| 44 months | 27.5% | 25.7% | 23.8% | 22% |
| 43 months | 26.9% | 25.1% | 23.3% | 21.5% |
| 42 months | 26.25% | 24.5% | 22.8% | 21% |
| 41 months | 25.6% | 23.9% | 22.2% | 20.5% |
| 40 months | 25% | 23.3% | 21.7% | 20% |
| 39 months | 24.4% | 22.8% | 21.1% | 19.5% |
| 38 months | 23.8% | 22.2% | 20.6% | 19% |
| 37 months | 23.1% | 21.6% | 20% | 18.5% |
| 3 years – 36 months | 22.5% | 21% | 19.5% | 18% |
| 35 months | 21.9% | 20.4% | 19% | 17.5% |
| 34 months | 21.3% | 19.8% | 18.4% | 17% |
| 33 months | 20.6% | 19.3% | 17.9% | 16.5% |
| 32 months | 20% | 18.7% | 17.3% | 16% |
| 31 months | 19.4% | 18.1% | 16.8% | 15.5% |
| 30 months | 18.8% | 17.5% | 16.3% | 15% |
| 29 months | 18.1% | 16.9% | 15.7% | 14.5% |
| 28 months | 17.5% | 16.3% | 15.2% | 14% |
| 27 months | 16.9% | 15.8% | 14.6% | 13.5% |
| 26 months | 16.3% | 15.2% | 14.1% | 13% |
| 25 months | 15.6% | 14.6% | 13.5% | 12.5% |
| 2 years – 24 months | 15% | 14% | 13% | 12% |
| 23 months | 14.4% | 13.4% | 12.5% | 11.5% |
| 22 months | 13.8% | 12.8% | 11.9% | 11% |
| 21 months | 12.6% | 12% | 11.4% | 10% |
| 20 months | 11% | 10.5% | 10% | 9.2% |
| 19 months | 9.78% | 9.33% | 8.89% | 8.4% |
| 18 months | 8.8% | 8.4% | 8% | 7.6% |
| 17 months | 8% | 7.64% | 7.27% | 6.91% |
| 16 months | 7.33% | 7% | 6.67% | 6.33% |
| 15 months | 6.77% | 6.46% | 6.15% | 5.85% |
| 14 months | 6.29% | 6% | 5.71% | 5.43% |
| 13 months | 5.87% | 5.6% | 5.33% | 5.07% |
| 1 year – 12 months | 5.5% | 5.25% | 5% | 4.75% |
| 11 months | 5.18% | 4.94 | 4.71% | 4.47% |
| 10 months | 4.89% | 4.67% | 4.44% | 4.22% |
| 9 months | 4.63% | 4.42% | 4.21% | 4% |
| 8 months | 4.4% | 4.2% | 4% | 3.8% |
| 7 months | 4.19% | 4% | 3.81% | 3.62% |
| 6 months | 3.75% | 3.5% | 3.25% | 3% |
| 5 months | 3.13% | 2.92% | 2.71% | 2.5% |
| 4 months | 2.5% | 2.33% | 2.17% | 2% |
| 3 months | 1.88% | 1.75% | 1.63% | 1.5% |
| 2 months | 1.25% | 1.17% | 1.08% | 1% % |
| 1 months | 0.63% | O.58% | O.54% | Or,50% |
| 0 months | – | – | – | – |
Cases in which the pension is not penalized
Law 21/2011 is clear, and establishes that voluntary or involuntary early retirements will always entail penalties, even if it is only for one month. Now, as with any rule, there are exceptions.
The only retirement that allows you to collect 100% of the pension (it will depend on the total number of contributions) are early retirements due to disability and those that, due to their profession, are of an exceptionally painful, toxic, dangerous or unhealthy nature, such as, for example, firefighters, miners or local police officers.