Amount

The amount of pension granted is determined by applying the general percentage  according to the number of years contributed to BP and, if applicable, the additional percentage for prolonging their working life, when retiring above the ordinary retirement age at any time and the applicable reduction quotient.

• When the retirement pension is paid at an age higher than the ordinary retirement age applicable in each case, provided that the minimum contribution period required has been fulfilled at that age, the person concerned shall be granted a financial supplement to be paid in one of the following ways, as they choose:

1. 1. An additional percentage of 4% for each full year of contributions made between the date on which this age was reached and the date of the causal event of the pension. 

      From the second full year of delay onwards, periods of more than six months and less than one year may be taken into account for the calculation of the percentage, with an additional 2% corresponding to these periods. The additional percentage obtained will be added to what would generally be awarded to the worker according to the number of years they have contributed, applying the resulting percentage to the base rate to determine the pension amount, which may never exceed the ceiling established for contributory pensions in the corresponding LPGE.

      If the amount of the pension awarded reaches the established ceiling without applying the additional percentage or by only applying it in part, the worker will receive:

      • The maximum pension.
      • An amount calculated by applying the additional percentage not used for determining the pension amount (rounded up to the closest unit) to the maximum pension stipulated at any given time. The aforementioned amount will be paid a month in arrears and in 14 payments a year. The sum of the amount of the pension or pensions awarded to the worker, calculated on an annual basis, may not exceed the ceiling figure for the contribution basis stipulated at any time, also calculated on an annual basis.

   2. A lump sum amount for each full year of contributions paid between the date on which that age was reached and the date of the causal event of the pension, the amount of which shall be determined on the basis of the years of contributions credited on the first of the dates indicated, the calculation formula being as follows:

      • For each full year of contributions paid between the date on which they reached that age and the date on which the pension became payable, the financial supplement shall correspond to the result of multiplying the amount resulting from the following formula by the number of years of contributions paid.

        • If less than 44 years and 6 months of contributions were made:

          
        • If they have paid contributions for at least 44 years and 6 months, the above figure is increased by 10%:
          

          Where the amount of the recognised pension exceeds the ceiling applicable on the date of the causal event, for the calculation of the lump sum amount, that maximum limit will be taken as the initial annual pension. 

      • From the second full year of delay onwards, periods of more than six months and less than one year may be taken into account for the calculation of the allowance, with the result of multiplying the amount of the above formula by 0.5.

      • A combination of the above options under the terms to be determined by regulation. 

   3. A combination of the above solutions (mixed option) provided that they have at least two full years of contributions between the date on which they reached the ordinary retirement age and the date of the causal event giving rise to the retirement pension. In this case, the supplement shall be fixed as follows: 
      • When a period of two to ten full years of contributions is credited between the date of reaching the applicable ordinary retirement age and the date of the causal event giving rise to the retirement pension, the supplement will consist of the sum of: 
        • An additional 4 per cent for each year in the middle of that period, taking the lower whole number. The forecasts set out in point 1 shall apply to this percentage. 
        • A lump sum amount for the remainder of the period concerned, determined in accordance with point 2. 
      • Where a period of eleven or more full years of contributions has been credited between the date of reaching the applicable normal retirement age and the date of the causal event giving rise to the pension, the supplement shall consist of the sum of: 
        • A lump sum amount for five years of that period, determined in accordance with point 2. 
        • An additional 4 per cent for each of the remaining years, to which the provisions set out in point 1 shall apply. 

For the purpose of calculating the contribution period to be considered, full years shall be taken into account, without a fraction of a year being treated as a year.

• Whatever the modality chosen, for the calculation of the contribution period to be taken into account, periods of time spent in situations assimilated to that of registration that do not involve actual work will not be taken into account.

• The choice shall be made only once at the time of applying for the pension, and may not be changed thereafter. If not exercised, the supplement referred to in point 1 shall apply.

• From 1 April 2025, this allowance is compatible with access to active ageing (active retirement). In any case, contributions paid during active retirement shall not give rise to any increase in the allowance. 

• This benefit will not be applicable in cases of partial or flexible retirement, nor when retirement age reduction coefficients are applied. Therefore, this benefit will only apply to workers who, on the date of the causal event, are awarded a retirement pension at an age that is above the legally established age for ordinary retirement.

• Additional percentage for people to whom the legislation prior to 01/01/2013 is applicable:

  • A total of 2% for each full year of contributions, or year when contributions are legally considered to have been made, from the date on which the worker reached the age of 65 until the date of the causal event of the pension.
  • A total of 3% when the worker accredits at least 40 years contributed when they reach the age of 65.

• Workers who were members of Mutual Insurance Societies on 1 January 1967, or equivalent:

  For those beginning to receive a retirement pension at an older age than the legal minimum, the amount of the pension will be calculated on the basis of article 210 of the LGSS.

• The base rate for retirement pensions and Permanent Disability benefit is reached using the general rule.
• For the purpose of determining the amount of retirement pensions and Permanent Disability pensions due to Common Disease, in the case of part-time work, all the periods during which the worker has been on sick leave shall be taken into consideration, regardless of the length of the working day.
• The percentage to be applied to the respective base rate will be determined in accordance with the general scale (Article 210  and  ninth transitional provision of the General Law on Social Security), and will take into account the days on which the worker has been registered, irrespective of the length of the working day.
  

(*) Exemption from contributions of workers aged 65 or over:

From 01-01-2013:

Employers and employees shall be exempt from paying Social Security contributions for common contingencies, except for temporary disability arising as a result, in respect of employees, as well as worker or worker-members of cooperatives, once they have reached the age to access the retirement pension applicable in each case.

The contribution exemption also covers contributions for unemployment, the Wage Guarantee Fund and vocational training.

The exemptions shall not apply to contributions relating to workers who provide their services to public administrations or public bodies regulated in Law 40/2015, of 1 October, on the Legal Regime of the Public Sector.

The periods for which this exemption applies shall be counted as periods in which contributions have been paid for the purposes of access to and determination of the amount of benefits. 

To whom does the legislation prior to 01-01-2013 apply:

Employers and workers will be exempt from paying Social Security contributions for unemployment, the Wage Guarantee Fund, vocational training and common contingencies, except for temporary disability arising from this, in respect of those workers employed by others with indefinite-term employment contracts, as well as worker or worker members of cooperatives, provided that are aged 65 or over and can prove 35 or more years of effective Social Security contributions, without the proportional parts of special payments being taken into account for these purposes.

If, on reaching the age of 65, the worker has not paid contributions for 35 years, the exemption shall be applicable from the date on which 35 years of actual contributions are credited.

The exemptions shall not apply to contributions relating to workers who render their services in the public administrations or public bodies regulated in Title III of Law 6/1997 of 14 April 1997 on the organisation and functioning of the General State Administration.