The retirement pension is an economic benefit included in all of the schemes of the Social Security System, which replaces working income with a lifetime, single, non-terminating pension when the worker reaches the age for ending active employment.

People affiliated with any Social Security Scheme who meet the requirements for age, minimum contribution period and causal event.

More information on beneficiaries

• Age: To have reached 65 years of age.
  
• Minimum period of contribution: Fifteen years, of which at least two must have been included during the fifteen years immediately prior to the causal event.
  
• Causal event:
  Affiliated workers: The last day worked
  Workers not affiliated: The date the application is submitted.
  Workers assimilated to affiliation: The date the application is submitted, except in cases of forced leave, when it is the last day on the job, and transfers outside of Spain, when it is the day the job ends.

More information on requirements

The amount of the pension is determined by the regulating base , which is the result of dividing the updated contribution bases of the interested party during the 180 months immediately prior to the causal event and the percentage applied to it based on the years of contribution divided by 210..

Affiliated workers: The day after employment ends, when the application is submitted within the 3 months prior to or following the termination. For all other cases, the maximum retroactivity is set at 3 months from the application date.

Workers assimilated to affiliation or not affiliated: The day after submitting the application, except in some situations assimilated toaffiliation, when it is the date of the causal event.

More information on economic effects

The pension is paid monthly, with two extra payments that are made with the payments for June and November.

The retirement pension has guaranteed minimum amounts, and it is adjusted at the beginning of each year based on the forecast Consumer Price Index for that year.

Retirement pensions are subject to personal income tax (IRPF).

More information on payments

Collecting a retirement pension is incompatible with working for another person or being self-employed or working for the Civil Service, which would lead to being included in a Social Security Scheme, except for partial retirement  and flexible retirement.

The paperwork for a retirement pension must be resolved and notification given to the interested party within a maximum of 90 days. (The average period is currently 19 days).

Being a lifetime pensioner only ends with the death of the recipient.

Applying for a retirement pension.

The documentation that must be submitted is listed on the application form.

At a Social Security Support and Information Centre.
Sea workers: at an office of the Marine Social Institute.

The management and granting of entitlement to a retirement pension corresponds to the National Social Security Institute (INSS), except for workers included in the scope of application of the Special Scheme for Sea workers, when it corresponds to the Marine Social Institute.

Early retirement because of the group or professional activity
Early retirement for disabled workers
Early retirement due to being a member of a Mutual Society since before 1-1-1967
Early retirement without being a member of a Mutual Society since before 1-1-1967
Flexible retirement
Partial retirement
Special retirement at the age of 64
Differences for the Special Schemes

It is possible to have the right to a retirement pension in several Social Security schemes when the requirements are met for each one of them. To receive the pension when not on active contributor status, the certified contributions in each scheme must exceed at least 15 years.

Autocalculator program for retirement pensions

Frequently Asked Questions