As of January 1, workers who wish to retire with 100% of their pension will have to be 66 years and eight months old, although retirement without penalty will continue to be possible at 65 if they have 38 years and 3 months of Social Security contributions.
The 2011 reform of the pension system, agreed by the Socialist government of José Luis Rodríguez Zapatero with employers and unions, established a progressive increase in the ordinary retirement age from 65 to 67, although it maintained the possibility of retiring at 65 for longer contribution careers. The regulation established a transitional period from 2013 to 2027 to raise the retirement age, as shown in the following table, which also specifies the years that must be contributed in order to be able to continue retiring at 65 without a reduction in the pension.
| YEAR | LEGAL AGE | TO RETIRE AT 65 YEARS OF AGE |
| 2013 | 65 years and 1 month | 35 years and 3 months or more |
| 2014 | 65 years and 2 months | 35 years and 6 months or more |
| 2015 | 65 years and 3 months | 35 years and 9 months or more |
| 2016 | 65 years and 4 months | 36 or more years |
| 2017 | 65 years and 5 months | 36 years and 3 months or more |
| 2018 | 65 years and 6 months | 36 years and 6 months or more |
| 2019 | 65 years and 8 months | 36 years and 9 months or more |
| 2020 | 65 years and 10 months | 37 or more years |
| 2021 | 66 years old | 37 years and 3 months or more |
| 2022 | 66 years and 2 months | 37 years and 6 months or more |
| 2023 | 66 years and 4 months | 37 years and 9 months or more |
| 2024 | 66 years and 6 months | 38 or more years |
| 2025 | 66 years and 8 months | 38 years and 3 months or more |
| 2026 | 66 years and 10 months | 38 years and 3 months or more |
| 2027 | 67 years | 38 years and 6 months or more |
Likewise, since 2013, the calculation period for calculating the pension has gradually increased from 15 to 25 years, a transition that ended in 2022, the year from which it is now calculated with the last 25 years of contributions. The pension reform of the current coalition government, which was completed in 2023, established as a novelty a dual computation period that will enter into force in 2026 and that will apply the more beneficial of two possibilities for calculating the pension: either the last 29 years of career, discarding the worst 24 months, or the current computation period (last 25 years).
