Spaniards who want to retire starting this Monday, January 1, with 100% of the pension will have to be at least 66 years and six months old, under the 2013 pension reform, in which it was progressively raised the retirement age from 65 to 67 years over a total horizon of 15 years.
These 66 years and six months will be the age required for those who have less than 38 years of contributions (in 2023, 66 years and four years of age are required to be able to retire with less than 37 years and nine months of contributions).
If they exceed 38 years of contributions, workers who want to retire from January 1, 2024 with 100% of the pension will have to be 65 years old.
What did not change with the 2013 reform is the minimum contribution requirement to be able to access the contributory retirement pension, which is maintained for at least 15 years, two of which must be included in the 15 years prior to retirement.
In the event that workers want to access partial retirement without the company making a replacement contract, the minimum access age will be the ordinary retirement age that is applicable in each case.
If the company makes a relief contract to cover the working time that the person who partially retires stops working, the minimum access age for partial retirement will be 62 years and six months from January 1, 2024 if They have been contributing for 36 years or more, or 64 months if they have been contributing for 33 years.
Social Security allows workers to retire early voluntarily up to a maximum of 24 months before the ordinary legal age. If early retirement is involuntary, it is possible to retire up to a maximum of 48 months before the ordinary retirement age.
In the case of early retirement, Social Security applies a series of reducing coefficients on the amount of the pension, which depend on the number of months in advance of the retirement age and the accumulated contribution period.
On the other hand, if access to the retirement pension is voluntarily delayed after the ordinary age, the pensioner will receive a bonus, which may consist of an additional pension percentage of 4%, a lump sum or a combination of both if retirement is delayed two years or more.
