Pension debate is on the agenda again in Spain Raising the retirement age in FranceFollowing the criticized pension reform, this number increased from 62 to 64. Decree law regarding the reform of the pension system was published in Spain The Regulation, which includes the new dual calculation system for new pensions between 1 January 2026 and 2044 and some other changes, was published in the Official State Gazette on 17 March.
In Spain, contributory pensions can be collected by the person concerned submitting an application proving that they meet the age and contribution requirements, which have been increasing since 2013. From then until 2027, both the required age and premium periods will increase Until the age of 38 and 65 with 6 months or more of premium payment, or until the age of 38 and 67 with less than 6 months of premium payment.
early retirement
Early retirement is a method they can achieve Workers who meet certain requirements and agree to apply a reducing factor. In other words, SSI allows taxpayers to retire earlier than they should, as long as they give up a portion of their premiums based on how many years they have left.
Knowing how much purchasing power we will “lose” if we retire early is important information because the decision will affect lifetime income: for example, If a worker decides to retire two years before turning 65 and has made less than 38 years and six months of contributions, his pension will be reduced by 21%.
So who Deciding to retire at 63 If they have made contributions for less than 38 years and 6 months (2 years before turning 65), a 21% discount coefficient will be applied to their pensions; 19% if they have made premiums between 38 years 6 months and 41 years 6 months; 17% if they made a premium between 44 years 6 months and 41 years 6 months; the same or 13% if they have contributed more than 44 years and 6 months.
Those who want to retire earlyMust have contributed for at least 35 years and “at least two years of the contribution period must be within 15 years” Just before requesting early retirement”.