Retirement Pension

The retirement pension, included in all of Social Security system schemes, replaces working income with a lifelong, single, imprescriptible pension when the worker reaches the age for fully or partially ending their working activity.

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

More information on beneficiaries

• Age: Having reached the standard age, with exceptions.
  
• Minimum contribution period: 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 day employment ends.
  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.
  
  Non-affiliated workers: The date the application is submitted.

More information on requirements

The pension amount is established by the base rateand the percentage applied to it depending on the number of years of contributions.

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 certain situations when the worker has assimilated contributor status, 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 paid with the June and November monthly payments.

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

Retirement pensions are subject to Personal Income Tax (IRPF).

Further information about payments

Entitlement to the retirement pension is incompatible with:

• The pensioner carrying out any type of work, whether on a self-employed or employed basis, that involves inclusion in the Social Security system, with the exceptions and under the terms provided for by law.
• Work for the civil service or in senior management.

However, the pension may be supplemented with income from the following roles:

• Work carried out by the pensioner, with the following exceptions:
  • Self-employed work, for which the annual income received does not exceed the national minimum wage, calculated on an annual basis.
  • Activities performed on a self-employed basis by professional associations.
  • Partial retirement.
  • Flexible retirement.
  • Work carried out on an employed orself-employed basis by the pensioner who has reached standard retirement ageand the amount has been calculated applying the percentage of 100 per cent to the base rate. The amount of the pension compatible with working activities will be reduced by 50 per cent.

  As a pensioner you are required, before starting work, to inform the respective managing body of such a circumstance. 

The processing of a retirement pension must be completed and the interested party must be notified within a maximum period of 90 days (the current average is 19 days).

Being a lifelong pension, it only expires with the death of the beneficiary.

Applying for a retirement pension.

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

At the Social Security support and information centres.
Seafarers at the offices of the Social Marine Institute.

The management and granting of entitlement to a retirement pension corresponds to the National Social Security Institute, except for workers included in the scope of application of the special scheme for seafarers, when it corresponds to the Social Marine Institute.

Early retirement due to the professional group or activity
Early retirement for workers with disability
Early retirement due to being a member of a mutual society
Early retirement without being a member of a mutual society
Early retirement due to involuntary termination at work
Voluntary early retirement
Flexible retirement
Partial retirement
Special retirement at 64 years of age
Particular conditions of 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.

Self-calculation: calculate your own retirement pension

Frequently asked questions