Workers born between March and December 1960 will be the first to have to wait until they are 67 years old to be able to retire, since from January 1, 2027 this will be the new ordinary retirement age (and last change) as stated in Law 27/2011. According to provisional data from the National Institute of Statistics (INE), the generation of 1960 totals 632,401 people as of January 1, 2026.
The General Social Security Law, in its seventh transitional provision, sets each year the ordinary retirement age, which has been increasing each year. In 2026, it was 66 years and 10 months, with the possibility of retiring at age 65 if you had at least 38 years and three months of contributions. Starting in 2027, the ordinary age is set at 67 years, with the possibility of retiring at age 65 if you have 38 years and six months of contributions. Thus, retirement is taken into account the year in which retirement occurs (the causative event), not the year in which the age is reached.
In this way, someone born in January or February 1960 turns 66 years and 10 months in November or December 2026 and can retire without a cut this year. If you continue working, the pension is understood to be due on the day of sick leave due to the cessation of work, according to the Social Security file on the causative event, so you must leave employment no later than December 31. If you leave it for January, the age of 2027 applies. Someone born in February would then have to wait until February 2027.
The application can be submitted earlier, since the retirement date indicated can be up to three months before or after the day on which it is requested, according to the same form. Whoever collects unemployment or the subsidy for those over 52 years of age has it easier, because the benefit ends when reaching the ordinary age and the pension is understood to be due that same day even if it is requested later, although in order not to lose arrears it is advisable to request it within three months following the resolution that extinguishes the benefit.
Whoever was born on or after March 1, 1960 reaches 66 years and 10 months already in 2027, when 67 is required. For example, a worker born on March 15, 1960 turns 66 years and 10 months on January 15, 2027, but will have to wait until March 15, when he turns 67. On the other hand, someone who is 38 years and 3 months contributions or more can retire already in 2026, because 65 is enough for him, and if he leaves it until 2027 he will need 38 years and 6 months to not wait until he is 67.
Those from March onwards will have around one point less pension with the same career
In 2027, the scale that converts the years of contributions into a pension also changes, and 100% of the regulatory base will require 37 years of contributions, compared to 36 years and 6 months in 2026 (ninth transitional provision of the same law). With the same career, between 19 years and 1 month and 35 years and 8 months of contributions, the percentage is 0.98 points lower according to the calculation of NoticiasTrabajo, 14.70 euros less per month with a regulatory base of 1,500 euros (the detail is in the pension table for years of contributions in 2026 and 2027).
Going forward to 2026 has a lifetime cut
Those born since March 1960 with at least 35 years of effective contributions who are registered or in a similar situation can retire earlier, in 2026, with voluntary early retirement, which allows them to advance up to two years to the ordinary age.
In exchange, the pension suffers a cut for each month of advance which, with less than 38 years and 6 months of contributions, is at least 3.26%, which corresponds to a single month. The exception is anyone who has been collecting unemployment benefits for at least three months, to which the lower involuntary retirement coefficients are applied.
National Police and Civil Guard go to the European Parliament to demand a decent retirement and that they be recognized as a risky profession
Social Security increases the pensions of retirees without a spouse with only 15 years of contributions that do not reach 936 euros, but only up to a maximum of 628.80 euros
For a pension of 1,500 euros, a 3.26% cut means 48.90 euros less per month, 684.60 per year in 14 payments, which are not recovered when you turn 67. If with the cut the pension does not exceed the minimum that would correspond to the age of 65 due to your family situation, you cannot benefit from the voluntary early pension.