The retirement age is one of the issues that generates the most doubts among the workers, since with the reform of Law 27/2011, it is increased every year, as well as the necessary contributions to retire at 65. This is why many wonder what age I can retire based on my quoted years.
To answer that question, Alfonso Muñoz Cuenca, who is a Social Security officer wanted to explain it on his YouTube channel, clarifying what will happen to retirement from 2026, both in relation to the legal age and the calculation of the pension.
You may be interested
Table with the maximum pension with which you can retire in advance at age 63 in 2025
A retiree must return 10,027.66 euros to Social Security for not canceling as a freelancer and despite not doing any work: justice supports it
This is so, since several reforms on the pension system are currently applied, because in addition to the aforementioned Law 27/2011, part of the Royal Decree-Law 2/2023 will also enter into force.
The legal retirement age in 2026
As Alfonso explains, “by 2026 the legal retirement age is at 66 years and 10 months.” That is, the calendar marked by Law 27/2011 will be applied, which gradually increases the age of labor retirement from 65 to 67 years in the period between 2013 and 2027.
Now, if we attend to this law there are two important exceptions. On the one hand, workers who have 38 years and 3 months quoted or more will be able to retire at age 65. On the other hand, workers who ceased their work activity before April 1, 2013 and have not returned to work, or have done so only sporadically, can take advantage of the previous legislation and also retire at 65.
“In summary,” adds the official, “in 2026 the legal retirement age is 66 years and 10 months, with two exceptions: workers over 38 years and 3 months quoted and those who may benefit from previous legislation may also retire at 65 years.”
Change the way to calculate the retirement pension
On the other hand, the Social Security official explains another novelties for next year that will change the way to calculate the pension, which will be done through a double calculation of the regulatory base.
“Social security will make a double calculation,” says Muñoz. On the one hand, the average of the contribution bases of the last 25 years will be taken into account, as until now. On the other, the result of dividing by 352.33 will be calculated the 302 best contribution bases of the last 304 months. The pension will be fixed by taking the most favorable result for the worker.
This change was already provided for in the legislation and seeks to strengthen the system’s taxpressivity principle, better balancing the relationship between quoted years and recognized pension.
36 years and 6 months will continue to be necessary to collect the full pension
In addition, Alfonso recalls that in 2026 36 years and 6 months will be needed to reach 100% of the regulatory base or what is the same 100% of the pension. “With 15 years quoted, the right to pension is accessed, but only 50%corresponds. To more quoted years, more pension percentage,” he clarifies.
This requirement is the result of the transition calendar set on Law 27/2011, which progressively increases the necessary period until it reaches 37 years in 2027.