What is the age of retirement in Spain

We'll tell you the age you should be able to retire at, and how this will be changing during the upcoming years.
Traditionally, the retirement age in Spain has been set at 65, although there are exceptions depending on the type of work that a person has performed throughout their working life. However, following the legislative reform to guarantee the sustainability of the public pension system, this age of 65 is gradually rising between 2013 and 2027, at which point the standard retirement age will be 67 years. For determining you own retirement age, we'll take a look at how the calculation is changing as well as other factors to be taken into account.
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What must be taken into account when calculating retirement age

The minimum retirement age to be eligible for a public pension depends on the age of the worker and the length of their social security contributions during their working life.

In 2018, the standard age of retirement was 65 years for people who have made social security contributions for at least 36 years and 6 months. Those who have not reached that length of contributions will be able to retire at 65 years and 6 months.

Therefore, between now and 2027 the minimum retirement age will rise at the rate of one month per year until 2018 and, from there, at the rate of 2 months per year, until reaching 67 years as mentioned above.

Year No. months eligible Countable years
Year
2013
No. months eligible
More than 35 years and 3 months
Countable years
65 years old
Year
Less than 35 years and 3 months
No. months eligible
65 years and 1 month
Year
2014
No. months eligible
More than 35 years and 6 months
Countable years
65 years old
Year
Less than 35 years and 6 months
No. months eligible
65 years and 2 months
Year
2015
No. months eligible
More than 35 years and 9 months
Countable years
65 years old
Year
Less than 35 years and 9 months
No. months eligible
65 years and 3 months
Year
2016
No. months eligible
More than 36 years 
Countable years
65 years old
Year
Less than 36 years 
No. months eligible
65 years and 4 months
Year
2017
No. months eligible
More than 36 years and 3 months
Countable years
65 years old
Year
Less than 36 years and 3 months
No. months eligible
65 years and 5 months
Year
2018
No. months eligible
More than 36 years and 6 months
Countable years
65 years old
Year
Less than 36 years and 6 months
No. months eligible
65 years and 6 months
Year
2019
No. months eligible
More than 36 years and 9 months
Countable years
65 years old
Year
Less than 36 years and 9 months
No. months eligible
65 years and 8 months
Year
2020
No. months eligible
More than 37 years 
Countable years
65 years old
Year
Less than 37 years 
No. months eligible
65 years and 10 months
Year
2021
No. months eligible
More than 37 years and 3 months
Countable years
65 years old
Year
Less than 37 years and 3 months
No. months eligible
66 years
Year
2022
No. months eligible
More than 37 years and 6 months
Countable years
65 years old
Year
Less than 37 years and 6 months
No. months eligible
66 years and 2 months
Year
2023
No. months eligible
More than 37 years and 9 months
Countable years
65 years old
Year
Less than 37 years and 9 months
No. months eligible
66 years and 4 months
Year
2024
No. months eligible
More than 38 years
Countable years
65 years old
Year
Less than 38 years
No. months eligible
66 years and 6 months
Year
2025
No. months eligible
More than 38 years and 3 months
Countable years
65 years old
Year
Less than 38 years and 3 months
No. months eligible
66 years and 8 months
Year
2026
No. months eligible
More than 38 years and 3 months
Countable years
65 years old
Year
Less than 38 years and 3 months
No. months eligible
66 years and 10 months
Year
2027
No. months eligible
More than 38 years and 6 months
Countable years
65 years old
Year
Less than 38 years and 6 months
No. months eligible
67 years

Early retirement

Workers who want to take advantage of early retirement due to voluntary termination, irrespective of the scheme in which they are registered in the Social Security system, must meet a series of requirements that we set out below:

- Must have an age that is no more than two years less than the legally required age for the time of retirement. In other words, for 2018, a worker who has been making social security contributions for 36 years and 6 months will be able to retire early at 63. The correct standard age will be the age that results from having made social security contributions for the period between the start date of the event and the statutory retirement that applies in each instance.

- The worker will have to verify a minimum period of 35 years of contributions.

- Of this period of payments, at least 2 years must have been within the 15 years immediately prior to the time of requesting the early retirement.

- To be eligible for this kind of retirement, the resulting pension cannot be lower than that which would correspond to the worker for their familiar situation upon the age of 65.

There are exceptions to these rules. Specifically:

- Any workers who perform activities classified as "painful, toxic, hazardous, or unhealthy as well as persons with disabilities (equal to or greater than 45% or 65%)” will be able to benefit from so-called age bonuses.

- Furthermore, agrarian employees will have to verify that out of the last 10 years with contributions made, at least 6 correspond to periods of effective activity in this special system.  

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The countable years for calculating a public pension

To calculate the public pension you will be able to receive after retirement, you first need to know the amount of your regulatory base. This is calculated by adding together the contribution bases for the last years worked (taxable years), which for 2018 is 21 years. this figure will increase by one year until reaching 25 years in 2022.
Year No. months eligible Countable years
Year
2013
No. months eligible
192/224
Countable years
16
Year
2014
No. months eligible
204/238
Countable years
17
Year
2015
No. months eligible
216/252
Countable years
18
Year
2016
No. months eligible
228/266
Countable years
19
Year
2017
No. months eligible
240/280
Countable years
20
Year
2018
No. months eligible
252/294
Countable years
21
Year
2019
No. months eligible
264/308
Countable years
22
Year
2020
No. months eligible
276/322
Countable years
23
Year
2021
No. months eligible
288/336
Countable years
24
Year
2022
No. months eligible
300/350
Countable years
25
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With the collaboration of the BBVA PENSIONS Institute:
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