The 2011 pension system reform in Spainagreed by the socialist Government of José Luis Rodríguez Zapatero with employers and unions, established the progressive increase in the ordinary retirement age from 65 to 67 years, although it maintained the possibility of retiring at 65 years of age for longer contribution careers.
The rule established a transitional period from 2013 to 2027 to raise the retirement age. Likewise, since 2013, the calculation period for calculating the pension began to gradually increase from 15 to 25 years, a transition that ended in 2022.year from which it is already calculated with the last 25 years of contributions.
The pension reform of the current coalition Government, which was completed in 2023, established as a novelty a dual calculation period that will come into force in 2026 and that will apply the most beneficial of two possibilities to calculate the pension.: or the last 29 years of your career, discarding the worst 24 months, or the current counting period (last 25 years), according to the Efe agency.
The effective retirement age has risen 1.1 years in the last decade and has reached 65.2 years in 2024an average that in the case of women rises to 65.6 years, while for men it drops to 64.8 years.
According to the latest data available from the Social securityuntil November of this year, 338,771 people had retired, of which 71% did so at the ordinary age or above with an average of 66 years, compared to 29% who retired early with an average of 63.2 years.
In the case of early retirement, The average age rises to 64 years if it is voluntary and falls to 62.8 years for non-voluntary.
A decade ago, involuntary early retirement accounted for one in every five registrations to the ye system.They were a consequence of the increase in layoffs during the years of the financial crisis, while now it is a minority and only represents 3.5% of the total.
The age rises to 68 years in the case of delayed retirement, a modality incentivized since 2022 that has almost doubled in the last five years, since it accumulates 9.4% of registrations compared to 4.8% in 2019.
