From the January 1, 2025, the ordinary retirement age increases in Spain. In this way, the ordinary legal retirement age is 66 years and 8 monthsalthough with the option of retiring at 65 years for those workers who have 38 years and three months of Social Security contributions throughout their working life. This increase in both age and years of contributions when applying the method to calculate the amount of the retirement pension.
Both the retirement age and the years of contributions necessary to continue retiring at age 65 are regulated in Law 27/20211, which was the first pension reform. Until its launch in 2013, there was only one ordinary age, which was set at 65 years. The reason was because the public pension system was facing increasing pressure due to increased life expectancy and the arrival of the baby boom generation (born between 1957 and 1977). For this reason, it was decided to establish a transitional period in which two retirement ages would coexist.
From that moment on, two retirement ages were established. One would remain at 65 years for those who prove long contribution careers, while the other would be progressive and would gradually increase each year until reaching 67 years in 2027.
| Year | Quoted periods | Retirement age |
|---|---|---|
| 2025 | 38 years and 3 months or more | 63 years |
| Less than 38 years and 3 months | 64 years and 8 months | |
| 2026 | 38 years and 3 months or more | 63 years |
| Less than 38 years and 3 months | 64 years and 10 months | |
| From 2027 | 38 years and 6 months or more | 63 years |
| Less than 38 years and 6 months | 65 years |
These increases, in addition to having an impact on the ordinary age, will also affect early, voluntary and involuntary retirement and the age at which these are accessed.
Increase in the ordinary and anticipated age in 2025
In 2025, the retirement age is 66 years and 8 monthsas long as there is at least 15 years of contributionswhich is the minimum to access the contributory pension. In the case of wanting To retire at age 65 it will be necessary to have 38 years and three months of contributionsthat is, 3 more months compared to 2024.
In the case of accessing the voluntary early retirementwhich allows advances of up to 24 months with respect to the ordinary age, this will be 64 years and 8 monthsas long as you have at least 35 years of contributions. You can also advance up to 63 yearsbut you will be required to be at least 38 years old and have had 3 months of contributions.
| Year | Quoted periods | Retirement age |
|---|---|---|
| 2025 | 38 years and 3 months or more | 63 years |
| Less than 38 years and 3 months | 64 years and 8 months | |
| 2026 | 38 years and 3 months or more | 63 years |
| Less than 38 years and 3 months | 64 years and 10 months | |
| From 2027 | 38 years and 6 months or more | 63 years |
| Less than 38 years and 6 months | 65 years |
In the case of the involuntary early retirementwhich occurs with situations beyond the control of the worker and which allows advances of up to 48 months, the maximum age advanced remains at 62 years and 8 months as long as you have at least 33 years of contributions. You can also access the age of 61 yearsbut it will be necessary to be 38 years and 3 months of Social Security contributions at least.
| Year | Quoted periods | Retirement age |
|---|---|---|
| 2025 | 38 years and 3 months or more | 61 years |
| Less than 38 years and 3 months | 62 years and 8 months | |
| 2026 | 38 years and 3 months or more | 61 years |
| Less than 38 years and 3 months | 62 years and 10 months | |
| From 2027 | 38 years and 6 months or more | 61 years |
| Less than 38 years and 6 months | 63 years |
Delayed retirement
Workers who decide to delay their retirement, that is, retire later than the ordinary age, will receive a bonus that can be collected in three different ways. The first option consists of a additional percentage of 4% for each full year of contributions after reaching ordinary age.
Secondly, they can opt for a lump sum amount that will range between 5,000 and 12,000 eurosdepending on the years of contributions upon reaching retirement age. Finally, there is the possibility of choosing a combined modality: receiving part of the amount in a single payment and the rest as a monthly increase in the pension.
Those who opt for this modality and delay their retirement between two and ten years will receive a 2% increase in their pension for each year of delayin addition to a single payment equivalent to half of what would correspond to them if they exclusively chose the single payment formula.
| Amount of pension to be received | Incentive per year of delay with 44.5 years of contributions or less | Incentive per year of delay with 44.5 years of contributions or more | Monthly supplement of 4% extra per year of delay |
|---|---|---|---|
| €2,819 | €11,300 | €12,400 | €113 |
| €2,400 | €10,200 | €11,300 | €96 |
| €2,000 | €9,200 | €10,100 | €80 |
| €1,200 | €6,700 | €7,400 | €48 |
| €1,000 | €6,000 | €6,600 | €20 |
Table of age and ordinary retirement date according to year of birth
To determine at what age we can retire according to the year of birth, it is possible to calculate it considering both the year in which we were born and the years and months of contributions. The following table details the corresponding retirement age based on the year of birth and the time contributed.
| Year of birth | Retirement date (with 38 years and six months or more contributions) | Retirement date (with less than 38 years and six months of contributions) |
|---|---|---|
| 1959 | 2024 | 2026 |
| 1960 | 2025 | 2027 |
| 1961 | 2026 | 2028 |
| 1962 | 2027 | 2029 |
| 1963 | 2028 | 2030 |
| 1964 | 2029 | 2031 |
| 1965 | 2030 | 2032 |
| 1966 | 2031 | 2033 |
| 1967 | 2032 | 2034 |
| 1968 | 2033 | 2035 |
| 1969 | 2034 | 2036 |
| 1970 | 2035 | 2037 |
In this way, those born in 1959 and 1960 will be able to retire at the ordinary age, while those born between 1961 and 1964 will have the option of retiring early if they meet the requirements. Furthermore, to know exactly the retirement date and the estimated amount of the pension, the Social Security website makes available a self-calculation program that provides this data in a personalized way.