How many years do I have to work before I can receive my pension?

How many years do I have to work before I can receive my pension?

To get 100% of your pension, you must have reached the legal retirement age or have contributed to the Social Security institution for the minimum time set by Law. In other words, the retirement age and years contributed are the determining factors and these are increasing every year. We share all the details with you!

In order to retire and get your pension you need to have contributed to the Social Security institution for at least 15 years, two of which must be the two years leading up to the date when you claim your pension. In other words, you’ll be entitled to a pension as soon as you meet these requirements, but you’ll only get 50%.  

In 2023, you need to have contributed at least 37 years and 9 months to retire at 65 and get 100% of your pension. Or you have to have reached the legal age for the pension if you don’t reach this minimum requirement: 66 years and 4 months.

If you're wondering what’s the standard retirement age, you should know that it’s increasing gradually in Spain since the 2013 tax reform and it will be 67 by 2027. Until then, it will gradually increase along with the number of years contributed to the Social Security institution to be able to get 100% of the state-paid pension, which will be 38 years and six months by 2027. On the other hand, to be able to claim the retirement benefit, you need to prove that you've contributed for at least 15 years to the Social Security institution.




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  • How do I know if I’m entitled to a pension?

    • In order to be eligible for a pension, you must have paid contributions to the Social Security institution and have been working for the minimum time set to receive a pension. You can ask for this information online, through the Social Security website.

  • How to get the best pension possible?

    • Firstly, you have to take into account your age, savings and income. We advise you to bear in mind all the keys to getting the best pension possible. Age is a determining factor in receiving your retirement pension, based on the number of years you’ve been paying contributions to the Social Security institution and the increased minimum age. As we know, the higher life expectancy has also meant an increase in the number of years you will be receiving said pension. Also, putting some money aside every month, as if it were a fixed expense, will be essential to build a nest egg that will add to your pension. With time and perseverance, you’ll be able to make those savings work for you and get the best return possible. 

  • How can I retire at 55?

    • Generally speaking, you can’t retire at 55, as you need to reach the minimum age to be entitled to a forced retirement pension, which is four years before the legal retirement age.

  • When should I start saving up for my retirement?

    • There isn’t a specific age to start saving up for your retirement. But there is a maximum age accepted and recommended by any advisor: the sooner you start, the better, because it will require far less effort. Therefore, as soon as you have some savings capacity, like for example at 30, you should start saving up or even before if possible.

  • How much should I save every month for my retirement?

    • There isn’t a specific amount to save, but we do advise you to put aside at least 10% of your monthly salary and go increasing it as your salary rises over time.

  • What should I do to have a good pension pot?

    • People often ask themselves what to do to have a good pension pot, but there isn’t a specific guide for this. What you really need is the help of an expert advisor or to draw up a plan with a pension scheme early on. We advise you to get going early on. So how do you prepare for your retirement? Some tips are first thinking about how you'd like to live when you retire. Estimate how much pension you’ll receive from the government, taking into account important factors like inflation and your return or risk profile. Look into pension schemes and set up the one that best fits your needs and persevere and be patient to avoid touching the nest egg you’re building for your retirement. 

  • How long do I need to contribute to the Social Security institution to get 100% of my pension?

    • It depends on how old you are when you retire and the contributions made to the Social Security institution during your working life. The retirement age in Spain will increase gradually until 2027, when it will be 67 years. In 2018, the retirement age was 65 years and 6 months if you wanted to receive 100% of your pension.

  • What will happen if I become unemployed or my business closes down?

    • There’s the option of paying the contributions yourself through special agreements with the Social Security authorities to keep being entitled to your pension. Ask one of our advisors or staff members. 

  • How is the widow/widower’s pension stipulated?

    • The deceased must have been registered with the Social Security institution and paying contributions to it for a certain time. The calculation basis depends on the deceased’s situation (active worker or pensioner) and the cause of their death (common contingency or workplace contingency). Feel free to ask for advice.