¿Puedo seguir trabajando y cobrar mi plan de pensiones?

Can I work and take my pension scheme at the same time?

When we consider planning our savings to improve our future and we analyse our expected retirement thoroughly, we have to analyse the pension we’ll be entitled to as well as the fixed expenses we’ll have and how much we can save. Working while taking your pension scheme after retiring is also an option. There are different ways to do this and we’ll show you all the options.


A Espanya hi ha 10 milions de pensionistes. El 63% són jubilats, el 23,6% són pensions de viduïtat, el 9,5% d’invalidesa i el 3,4% per orfandat, segons dades del mateix Ministeri. El nombre de pensionistes ha crescut i només un 5% cobra la pensió màxima. 
Però a la resposta de si es pot seguir treballant i cobrar el pla de pensions, la resposta és sí, quan es donen les situacions següents:


1. Early retirement

It’s also possible to take the money from your pension scheme when you retire early and combine it with a job.


2. Standard retirement

This is when you reach the statutory retirement age (67 years in 2027) and you combine the government retirement benefit with an occupational activity.


3. Flexible retirement

This is for pensioners who have fully retired and wish to go back to work. In other words, they go back to working as usual, back to the employment status they’d abandoned. In this case, a new employment contract is signed for full-time or part-time work. It’s important to remember that the new employer of the pensioner taking up flexible retirement can’t be the same employer as before taking their retirement.


4. Partial retirement

This is for workers who have reached the legal retirement age but continue to work part time (25%-50% of the time). They must have a part-time employment contract with a company. They should meet all the requirements to get a contributive retirement pension. In other words, prove they have been paying contributions to the Social Security institution for at least 15 years, two of which must be included within the 15 years leading up to the retirement.


5. Active retirement

Active pensioners –who retire at the standard age and contribute to receive 100% of the benefit– may work full time or part time and receive up to 50% of the pension as long as the contract remains in force (when the contract ends, they will receive 100% of the pension). Granted by a body other than the Social Security institution: Workers who are members of another body (e.g. a professional association) and reach the standard retirement age but still wish to combine their retirement with a part-time or full-time job.


6. Deferred retirement

As for deferred retirement, where the person hasn’t effectively retired, they can’t take the retirement benefit from the pension scheme. There has to be a specific clause to be able to take the money from the pension scheme if they continue to work after retiring.




Asset Publisher

  • 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. 

  • 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 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.

  • 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 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 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.

  • 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.