Workers who decide to take advantage of voluntary or involuntary early retirement in 2026 should know that social security will apply a cut in the amount of their retirement pension. This “penalty” is to advance its ordinary retirement age and the cut can range from 0.50% to 30%. This percentage will depend on whether the advance is voluntary or oblivious to the will of the worker, the total of quoted years and the months advanced with respect to their ordinary age and will apply to both ordinary payrolls and extraordinary payments. In addition, in the case of exceeding the maximum pension, an additional cut will be applied.
The retirement age is regulated in Law 27/2011 (which can be consulted in this BOE) and two ages are established. A set at 65 years for those with a minimum quotes and another progressive age that increases every year for those who do not have such contributions. In 2026, to retire at 65, you have to be 38 years and 3 months quoted and in the case of not accumulating said contributions, the age will be 66 years and 10 months.
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Retirees explode against Social Security against Europe: “After having contributed 40, 45 or 47 years they submit to reducing coefficients that apply for a lifetime”
That is, those who retire voluntarily may advance age up to a maximum of 24 months (2 years). That is, this will be located in the 64 years and 10 months or 63 years if they had contributed 38 years and three months quoted.
In the case of the involuntary or, which is foreign to the will of the worker, a maximum of 48 months (4 years) may be advanced, so it will be 62 years and 10 months or 61 years if they are 38 years and 3 months.
But why is early retirement penalized? Well, the reason is simple, because in the advancement of the retirement age it is understood that it is enjoyed before the pension and therefore social security must pay more months of pension. So, for not tensions, the system applies this penalty, although not all professions suffer cuts, since Social Security has exceptions for certain professions or workers with disabilities.
Table with penalties for accepting voluntary anticipated retirement
The reducing coefficients in voluntary early retirement will range between 2.81% and 21%, depending on the quoted years and months and the months advanced with respect to the ordinary retirement age. The penalties are as follows:
- If you have quoted less than 38 years and 6 months, the cut will go from 21% for two years and 3.26% for the advancement of a month.
- If you have quoted between 38 years and 6 months and 41 years and 6 months, the cut will go from 19% for two years to 3.11% for a month.
- In the case of quoting between 41 years and 6 months and 44 years and 6 months the maximum cut for two years will be 17% and 2.96% for a month.
- And if you have quoted more than 44 years and 6 months the maximum cut for two years will be 13% and 2.81% for one month.
In the following table you can consult how the cut month by month would be based on the quoted years.
| Months that retirement advances | 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 | 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 | 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% |
Table with penalties for accepting involuntary anticipated retirement
In the case of involuntary or forced anticipated retirement, reducing coefficients will go from 0.50% to 30%, which will also depend on the quoted years and months and the months advanced with respect to the legal retirement age. The reducing coefficients are as follows:
- If you have quoted less than 38 years and 6 months the cut will be 30% for 4 years; 22.50% for 3 years; 15% for two years and 5.50% for one year.
- In the case of quoting between 38 years and 6 months and 41 years and 6 months the cut will be 28% for 4 years; 21% for 3 years; 14% for two years and 5.25% for one year.
- If you have quoted between 41 years and 6 months and 44 years and 6 months, the penalty will be 26% for 4 years; 19.5% for 3 years; 13% for 2 years and 5% for one year of advance.
- And if you have quoted more than 44 years and 6 months the cut will be 24% for 4 years; 18% for 3 years; 12% for 2 years and 4.75% for 1 year.
In the following table you can consult how the cut month by month would be based on the quoted years.
| Months that retirement advances | 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 | 30% | 28 % | 26 % | 24 % |
| 47 | 29.4% | 27.4 % | 25.5 % | 23.5 % |
| 46 | 28.8% | 26.8 % | 24.9 % | 23 % |
| 45 | 28.1 % | 26.3 % | 24.4 % | 22.5 % |
| 44 | 27.5 % | 25.7 % | 23.8 % | 22 % |
| 43 | 26.9 % | 25.1 % | 23.3 % | 21.5 % |
| 42 | 26.25 % | 24.5 % | 22.8 % | 21 % |
| 41 | 25.6 % | 23.9 % | 22.2 % | 20.5 % |
| 40 | 25 % | 23.3 % | 21.7 % | 20 % |
| 39 | 24.4 % | 22.8 % | 21.1 % | 19.5 % |
| 38 | 23.8 % | 22.2 % | 20.6 % | 19 % |
| 37 | 23.1 % | 21.6 % | 20 % | 18.5 % |
| 3 years – 36 | 22.5 % | 21 % | 19.5 % | 18 % |
| 35 | 21.9 % | 20.4 % | 19 % | 17.5 % |
| 34 | 21.3 % | 19.8 % | 18.4 % | 17 % |
| 33 | 20.6 % | 19.3 % | 17.9 % | 16.5 % |
| 32 | 20 % | 18.7 % | 17.3 % | 16 % |
| 31 | 19.4 % | 18.1 % | 16.8 % | 15.5 % |
| 30 | 18.8 % | 17.5 % | 16.3 % | 15 % |
| 29 | 18.1 % | 16.9 % | 15.7 % | 14.5 % |
| 28 | 17.5 % | 16.3 % | 15.2 % | 14 % |
| 27 | 16.9 % | 15.8 % | 14.6 % | 13.5 % |
| 26 | 16.3 % | 15.2 % | 14.1 % | 13 % |
| 25 | 15.6 % | 14.6 % | 13.5 % | 12.5 % |
| 2 years – 24 | 15 % | 14 % | 13 % | 12 % |
| 23 | 14.4 % | 13.4 % | 12.5 % | 11.5 % |
| 22 | 13.8 % | 12.8 % | 11.9 % | 11 % |
| 21 | 12.6 % | 12 % | 11.4 % | 10 % |
| 20 | 11 % | 10.5 % | 10 % | 9.2 % |
| 19 | 9.78 % | 9.33 % | 8.89 % | 8.4 % |
| 18 | 8.8 % | 8.4 % | 8 % | 7.6 % |
| 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 % | 5.6 % | 5.33 % | 5.07 % |
| 1 year – 12 | 5.5 % | 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 | 4.4 % | 4.2 % | 4 % | 3.8 % |
| 7 | 4.19 % | 4 % | 3.81 % | 3.62 % |
| 6 | 3.75 % | 3.5 % | 3.25 % | 3 % |
| 5 | 3.13 % | 2.92 % | 2.71 % | 2.5 % |
| 4 | 2.5 % | 2.33 % | 2.17 % | 2 % |
| 3 | 1.88 % | 1.75 % | 1.63 % | 1.5 % |
| 2 | 1.25 % | 1.17 % | 1.08 % | 1 % % |
| 1 | 0.63 % | Or, 58 % | Or, 54 % | Or, 50 % |
| 0 | – | – | – | – |
Table with reducing coefficients when the pension exceeds the maximum pension
For voluntary early retirement cases, there is a special rule when the calculated pension is so high that, even with the cuts by age advance, it continues to exceed the limit of the maximum pension established by law every year. In these situations, the percentage of reduction does not apply to the calculated pension, but directly on the amount of the maximum pension. This means that the cut is made on the legal limit.
This measure is being implemented progressively, and coefficients vary every year. The regulations that regulate this calculation are in the transitory provision of the fourth fourth of Law 21/2021 (that can be consulted in this BOE).
Next, you can check the table with the correct coefficients by 2026:
| Months of advance | Less than 38 years and 6 months quoted | Between 38 years and 6 m. and 41 years and 6 m. quoted | Between 41 years and 6 m. and 44 years and 6 m. quoted | More than 44 years and 6 months quoted |
|---|---|---|---|---|
| 24 | 9.10% | 8.50% | 7.90% | 6.70% |
| 23 | 8.08% | 7.75% | 7.30% | 6.40% |
| 22 | 7.20% | 7.00% | 6.80% | 6.10% |
| 21 | 6.22% | 6.05% | 5.88% | 5.45% |
| 20 | 5.75% | 5.60% | 5.45% | 5.21% |
| 19 | 5.38% | 5.25% | 5.12% | 4.97% |
| 18 | 4.74% | 4.62% | 4.50% | 4.38% |
| 17 | 4.50% | 4.39% | 4.28% | 4.17% |
| 16 | 4.30% | 4.20% | 4.10% | 4.00% |
| 15 | 3.78% | 3.69% | 3.60% | 3.51% |
| 14 | 3.64% | 3.55% | 3.46% | 3.38% |
| 13 | 3.51% | 3.43% | 3.35% | 3.27% |
| 12 | 3.05% | 2.98% | 2.90% | 2.83% |
| 11 | 2.95% | 2.88% | 2.81% | 2.74% |
| 10 | 2.87% | 2.80% | 2.73% | 2.67% |
| 9 | 2.44% | 2.38% | 2.31% | 2.25% |
| 8 | 2.37% | 2.31% | 2.25% | 2.19% |
| 7 | 2.31% | 2.25% | 2.19% | 2.14% |
| 6 | 1.90% | 1.85% | 1.79% | 1.74% |
| 5 | 1.85% | 1.80% | 1.74% | 1.69% |
| 4 | 1.80% | 1.75% | 1.70% | 1.65% |
| 3 | 1.41% | 1.36% | 1.31% | 1.26% |
| 2 | 1.36% | 1.32% | 1.27% | 1.23% |
| 1 | 1.33% | 1.28% | 1.24% | 1.19% |