Spain will raise its retirement age this week

SPAIN’S retirement age with a full state pension entitlement goes up by two months to 66 and eight months from Wednesday.

The move is part of the 2013 pension reforms which are progressively raising the retirement age from 65 to 67 years over a 15-year period.

The minimum contribution requirement to access part of the state retirement pension remains at at least 15 years, two of which must be included in the 15 years prior to retirement.

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Workers are allowed to retire early voluntarily up to a maximum of 24 months before the legal age.

Thus, in 2025, the minimum age for access to voluntary early retirement will be 64 years and 8 months, with it being mandatory to have contributed for at least 35 years to be able to access payments.

If the working career is longer, a person is allowed to retire early at the age of 63.

In addition, in order to be eligible for this type of retirement, the amount of the pension to be received by the worker must be higher than the amount of the minimum pension that would correspond to him or her due to their family situation when they reach 65 years.

If early retirement is involuntary, i.e. forced, it is possible to retire up to a maximum of 48 months before the ordinary retirement age.

Therefore in 2025, you must be 62 years and 8 months old and have contributed for at least 33 years of contributions.

In the case of longer working careers, the minimum age is 61 years.

When a worker retires early, Social Security applies reduction coefficients on the amount of the pension, which depend on the number of months of advance of the retirement age and the accumulated contribution period.

In general terms, these reduction coefficients range from 21% to 3.26% depending on whether the withdrawal is 24 months (the maximum possible) or one month.