In 2026, to retire early at age 61, it is necessary to have been fired for reasons beyond the worker’s control as well as to prove at least 38 years and 3 months of contributions; to do so at age 63, but the same years of contributions are voluntarily required. The age range from 61 to 63 is only accessible to those who have a long contribution career and meet the requirements regulated in articles 207 and 208 of the General Social Security Law (LGSS). On the other hand, each month that the ordinary age is advanced, a reducing coefficient will be applied that is deducted from the pension for life.
The cuts for advancing retirement range from 2.81% and 21% in the voluntary modality, depending on the months in advance and the years of contributions, being softer in the case of the involuntary, since it is beyond the will of the worker. Thus, anyone who retires 2 years early voluntarily and has less than 38 years and three months of contributions loses 21% of their pension; Those who have been contributing for 44 years and 6 months and only advance one month barely lose 2.81%.
Who can retire at age 61 in 2026?
At 61 years of age you can only access involuntary early retirement, that is, when the contract is terminated for a reason beyond the control of the worker. The requirements are:
- Minimum age: 61 years if 38 years and 3 months or more of contributions are proven (the ordinary age is then 65, and the maximum advance is 4 years)
- Minimum contribution: 33 years actually contributed
- Non-attributable cause of termination: objective dismissal, collective dismissal (ERE), bankruptcy, force majeure, death or incapacity of the employer, or decision of the worker based on an unaccepted geographical transfer
- Registration as a job seeker for at least 6 months before application
- Having received compensation for the dismissal or another document that proves the termination
The reducing coefficients in this modality are included in article 207.2 of the LGSS and are applied for each month of anticipation over the ordinary age: with 4 years in advance the cut can be between 24% with very long careers and 30% with a minimum career; 2 years ahead it is between 12% and 15%. In general, they are softer than those of voluntary early retirement because the law understands that leaving the labor market was not a decision sought by the pensioner.
| Retirement at age 61 (4 years earlier) | With less than 38 years and 6 months of contributions | More than 38 years and 6 months and less than 41 years and 6 months | More than 41 years and 6 months and less than 44 years and 6 months | More than 44 years and 6 months |
|---|---|---|---|---|
| 4 years – 48 months | 30% | 28% | 26% | 24% |
Who can retire at age 62 in 2026?
Two assumptions allow access to 62 years:
- Involuntary early advance at 62 years and 10 months if the person is less than 38 years and 3 months old with contributions (ordinary age 66 years and 10 months, advance of 4 years)
- Early partial retirement from age 62, if the requirements of article 215 LGSS are met (33 years of contributions, 6 years of seniority in the company, mandatory replacement contract)
There is no option for ordinary voluntary early retirement at age 62 unless the person was a mutual member before January 1, 1967 (a very minority group that contributed to Labor Mutualism). In that case, you can still benefit from transitional conditions. The rest of the workers will have to wait until they are 63.
Who can retire at age 63 in 2026?
Age 63 is the gateway to voluntary early retirement, regulated by the article 208 of the LGSS. The requirements are:
- Minimum age: 63 years if you can prove 38 years and 3 months or more of contributions, or 64 years and 10 months if you have contributed less
- Minimum contribution: 35 effective years (the integration of gaps or fictitious unemployment contributions are not valid)
- Resulting pension higher than the minimum after applying reducing coefficients. If the calculated pension is below the minimum that would correspond to the pensioner, the request is denied.
- Submit the application within the deadline and not be collecting another incompatible pension
This modality is chosen by thousands of workers each year who want to stop working before the normal age, although in exchange they accept a lower pension for the rest of their life.
How many years of contributions do you need to retire between the ages of 61 and 63?
This is the summary table of requirements according to the departure age and the modality applicable in 2026:
| Retirement age | Mode | Required years of contributions | Main condition |
|---|---|---|---|
| 61 years | Involuntary early | 38 years and 3 months or more | Dismissal or non-attributable cause + 6 months registered |
| 62 years (and 10 months) | Involuntary early | 33 years | Dismissal or non-attributable cause + 6 months registered |
| 62 years | Partial retirement | 33 years (25 if disability ≥33%) | Replacement contract + 6 years in company |
| 63 years | Voluntary advance | 35 effective years | Resulting pension > minimum pension |
| 64 years and 10 months | Voluntary advance | Less than 38 years and 3 months | Resulting pension > minimum pension |
How much is lost with reducing coefficients?
The discount is applied month to month depending on the advance. In the voluntary early payment, the scale of article 208.2 LGSS sets the monthly penalty based on the years of contributions and the months remaining until the ordinary age. The maximum penalty, 24 months in advance with the minimum required career, is 21%; With a complete career of more than 44 years and 6 months, the 24-month penalty remains around 13%. For a single month in advance, the cut ranges between 2.81% and 3.26% depending on the years quoted. This is how the table would look:
| Retirement months early | Less than 38 years and 6 months | Less than 41 years and 6 months | Less than 44 years and 6 months | 44 years and 6 months or more |
|---|---|---|---|---|
| 24 months (2 years) | 21% | 19% | 17% | 13% |
| 23 | 17.60% | 16.50% | 15% | 12% |
| 22 | 14.65% | 14% | 13.33% | 11% |
| 21 | 12.57% | 12% | 11.43% | 10% |
| 20 | 11% | 10.50% | 10% | 9.20% |
| 19 | 9.78% | 9.33% | 8.89% | 8.40% |
| 18 | 8.80% | 8.40% | 8% | 7.60% |
| 17 | 8% | 7.64% | 7.27% | 6.91% |
| 16 | 7.33% | 7% | 6.67% | 6.33% |
| 15 | 6.77% | 6.46% | 6.15% | 5.85% |
| 14 | 6.29% | 6% | 5.71% | 5.43% |
| 13 | 5.87% | 5.60% | 5.33% | 5.07% |
| 12 months (1 year) | 5.50% | 5.25% | 5% | 4.75% |
| 11 | 5.18% | 4.94% | 4.71% | 4.47% |
| 10 | 4.89% | 4.67% | 4.44% | 4.22% |
| 9 | 4.63% | 4.42% | 4.21% | 4% |
| 8 | 4.40% | 4.20% | 4% | 3.80% |
| 7 | 4.19% | 4% | 3.81% | 3.62% |
| 6 | 4% | 3.82% | 3.64% | 3.45% |
| 5 | 3.83% | 3.65% | 3.48% | 3.30% |
| 4 | 3.67% | 3.50% | 3.33% | 3.17% |
| 3 | 3.52% | 3.36% | 3.20% | 3.04% |
| 2 | 3.38% | 3.23% | 3.08% | 2.92% |
| 1 | 3.26% | 3.11% | 2.96% | 2.81% |
In the involuntary anticipation the coefficients are significantly lower. The law applies monthly reductions according to the scale of article 207.2 of the LGSS: at 4 years of the ordinary age the cut ranges between 30% with a minimum career and 24% with careers of 44 years and 6 months or more; 2 years ahead the range is between 15% and 12%.
| Retirement months early | Less than 38 years and 6 months | Less than 41 years and 6 months | Less than 44 years and 6 months | 44 years and 6 months or more |
|---|---|---|---|---|
| 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 | – | – | – | – |
To what part of the pension does the cut apply?
The reducing coefficient is applied to the final result of the pension, once the regulatory base and the applicable percentage have been computed according to the years contributed. An example to understand is if a worker with 40 years of contributions and a regulatory base of 1,800 euros would be entitled to almost 100% of the pension. If you retire 2 years early voluntarily, a cumulative coefficient close to 19% is applied, leaving the pension around 1,458 euros per month, more than 340 euros less for life.
With the same basis but involuntarily early (after a dismissal), the cut for 2 years could remain at 14%, leaving the pension close to 1,548 euros. The accumulated difference over an average life expectancy of 20 years exceeds 50,000 euros.
Can the early pension be recalculated upon reaching normal age?
No. Once the reducing coefficient is applied, the penalty is permanent and remains even when the pensioner reaches ordinary age. It is one of the most frequent mistakes: many workers believe that, upon reaching age 65, Social Security will return the discounted percentage to them. It doesn’t happen.
The only way to recover part of the cut is to rejoin the labor market through flexible retirement (article 213.1 of the LGSS) and generate new contributions that improve the regulatory base. The recalculation is done when the partial contract expires and the pension can only be increased, never lowered.