In 2025, the requirement to receive the full pension will be to have contributed for 36 years and 6 months, a figure that will increase to 37 years in 2027. Those who opt for early retirement can bring their retirement forward by a maximum of 24 months, although this involves the application of reduction coefficients. For the calculation of the pension, one can choose between an additional percentage in the pension for each full year contributed after the ordinary age or a one-time payment for each year contributed, which varies according to the years contributed.
In 2025, contributory pensions and those of the Special Regime for State Passive Classes will be revalued by 2.8%, following the average inflation from December 2023 to November 2024. Furthermore, pensions will be revalued according to the CPI, ensuring the purchasing power of retirees.
The calculation of retirement pensions in Spain mainly depends on the regulatory base, which is obtained from the average of the contribution bases of the last years worked. Workers who have contributed for 42 years exceed the contribution threshold necessary to receive 100% of the regulatory base. The percentage applied to the regulatory base varies depending on the years contributed.
These adjustments are part of the reform calendar that will culminate in 2027, when the ordinary retirement age will reach 67 years for those who do not meet the contribution requirements. For those retiring in 2025, the last 25 years of contributions will be taken into account.
The pension system in Spain continues to adjust progressively. In 2025, the ordinary retirement age is 66 years and 8 months for those who have contributed for less than 38 years and 3 months. Additionally, minimum pensions will also increase, with retirees over 65 years old without a dependent spouse receiving €12,241.60 annually, while those with a dependent spouse will reach €15,786.40.
Regarding early retirement, with 42 years of contributions, the reductions range from 2.96% for one month of advancement to 17% in the case of advancing two years. In contrast, those who decide to delay their retirement will receive a financial supplement.
