What is the maximum retirement pension in 2017?

We'll explain about the maximum retirement pension limit for 2017, after approval of the latest Royal Decree
Spain's Public Pension System for retirement is designed and planned to ensure that a monthly income can be received by those who have reached the end of their working careers. This income is the result of the previous contributions the recipient has been making throughout his or her professional life. There is also another objective, which is redistribution of income for the citizens. Because of this, each year Spain's government establishes minimum and maximum limits for the amounts of pension benefits. Now, what is the maximum retirement pension for 2017?
Upper Banner Calculate Retirement Upper Banner Calculate Retirement
Save for your retirement
Calculate how your retirement would improve with contributions to a pension plan


In December 2016, Spain's Council of Ministers approved a Royal Decree that establishes the new retirement pension limits for 2017. Specifically, it establishes a rise of 0.25%, the legal minimum agreed in the most recent pension. With this increase, which came into force on January 1 this year, the maximum retirement pension for 2017 is set at 2,573.70 per month.

Having a maximum limit for the retirement pension also means that if another pension is being received, such as for widowhood, the total amount received for both plans cannot exceed the pension limit. In other words, the total amount received after retirement cannot be above the €2,573.70 established by the government as the maximum limit.

What if I retire early?

The current standard retirement age is 65 years and five months. Every year this age is being increased by one month, and it will be increased by two months each year beginning in 2018. This means that in 2027 the ordinary retirement age will be 67 years. There are numerous factors that lead many people to opt for an early retirement. It is worth pointing out, however, that those who choose to take this route will receive a reduced amount from their retirement pension.

The reduction in the pension amount will be calculated depending on how many quarters in advance of the statutory retirement age the retirement takes place, and the number of years of contributions. The stipulated amount of these reductions will be between 1.625% and 2% in the case of voluntary retirement, and 1.5% and 1.875% if the early retirement is involuntary. This reduction is applied from the first pension benefit payment received, it and remains in effect throughout the entire retirement period. You must keep in mind as well that the legal maximum is also significantly reduced under circumstances of voluntary or involuntary early retirement. The maximum amount of the retirement pension in the case of early retirement is reduced by 0.5% for each quarter or fraction of a quarter remaining until the ordinary retirement age.

This means that the maximum retirement pension established at €2,573.70 can only be achieved if your employment activity ends after reaching the ordinary retirement age.

Cases where it is possible to receive a pension higher than the established limit

There are a series of cases where the retirement pension can exceed the maximum established:

  • Supplement for motherhood: the pension supplement for motherhood is applied to women who have children, either as their biological mother or through adoption, and who are receiving benefits from the Social Security system as a retirement or widowhood pension or else for permanent disability. This supplement establishes an increase in the amount of the cited pensions by 5% in the case of having two children, 10% for three children, and 15% for four or more children. If the affected retirement pension exceeds the established maximum when this supplement is applied, the woman will still have the right to receive 50% of the motherhood supplement, even if the total amount is still above the maximum for a retirement pension.
Central Banner Pension Plan Central Banner Pension Plan
Pension plans adapted to your needs
See the options we offer:
  • Extension of the working career beyond the ordinary retirement age: if you retire at an age beyond the ordinary age established, you will receive an additional percentage for each full year of contributions you make after reaching the ordinary retirement age. In cases where the legal maximum for the retirement pension is reached, either without this supplement or with partial application of it, the pension earner has the right to receive an amount each year that is calculated by applying to the legal maximum limit the portion of the additional percentage not used to calculate the retirement pension. This amount will be paid in 14 payments and added to the retirement pension, although in no case may the current limit for the contribution base be exceeded, which is established for 2017 at €3,751.20. This is an amount much higher than the maximum pension amount of €2,573.70 established for 2017.

Because these maximum pension limits have been established, it is recommendable to have some private savings to serve as a supplement if you think that the amount of your retirement pension will represent a considerable decrease compared to your monthly salary. At BBVA we would be happy to answer any questions you may have, and we can also help you decide which of our pension plans represents the best fit for your own needs and preferences.

Your pension at BBVA

We offer very good conditions when it comes to paying in your pension with our Va Contigo Account. But if what wish is bring it to BBVA from another company in a fast and simple way, put at your disposal our Removals service (to the one which can access from bbva.es or from BBVA's app), which is responsible for carrying out the entire process conveniently, quickly and at no cost to you. Visit BBVA.es to find out more.
CTA Pension Simulator CTA Pension Simulator
Pension Plans - You might also be interested in Pension Plans - You might also be interested in

You might also be interested in

  • These are the changes made in 2018 involving pensions and the maximum amount payable during retirement.
  • We are going to explain how you can calculate the pension benefits you will receive after retiring.
  • Several factors can affect the personal income tax withholding for retirement pensions. Determine your percentage.
Pension Plans - Tools Pension Plans - Tools

Pension plan tools

  • How much state pension will you receive when you retire? Find out in three simple steps.
  • Find the pension plan that best suits your savings needs and start planning your future.
  • Our comparison tool will enable you to know the characteristics of all our plans and choose the one that best suits you.
  • With our calculator, you can find out the final benefit you will receive when you retire.
  • Would you like to know how much you can save on your annual tax return if you contribute to a pension fund?