Spaniards who want to retire as of January 1, 2026 must meet new age and contribution requirements to access 100% of the pension, as a result of the pension reform approved in 2013. That reform established a progressive increase in the legal retirement age from 65 to 67 over a 15-year horizon, a timetable that continues to advance.
Ordinary retirement age in 2026
As of 2026, the ordinary retirement age will be 66 years and 10 months for those with less than 38 years and 3 months of contributions, two months more than required in 2025. On the other hand, workers who reach or exceed 38 years and 3 months of contributions will be able to retire with 100% of their pension at the age of 65.
What has not changed is the minimum requirement for access to the contributory retirement pension, which remains at 15 years of contributions, of which at least two must be within the 15 years prior to retirement.
Partial retirement: with or without relief contract
In the case of partial retirement, which makes it possible to combine a pension and part-time work, the regulations distinguish between two cases. If the company does not formalize a relief contract, the minimum age of access will be the ordinary retirement age applicable in each case.
On the other hand, when the company does make a relief contract to cover the working day left vacant by the worker, the minimum age in 2026 will be 63 years and 10 months for those with less than 38 years and 3 months of contributions, or 62 years if at least 33 years of contributions have been credited.
Early retirement: voluntary or compulsory
Voluntary early retirement allows early retirement up to 24 months before the legal age. In 2026, the minimum age will be 64 years and 10 months for those who do not reach 38 years and 3 months of contributions, or 63 years for those who do reach 38 years and 3 months of contributions.
In addition, the resulting pension must be higher than the minimum pension that would correspond to the worker’s family situation at the age of 65. If this threshold is not reached, voluntary early retirement is not possible.
In the case of involuntary or forced early retirement, retirement can be brought forward by up to 48 months. In 2026, it will be possible to retire at 62 years and 10 months with less than 38 years and 3 months of contributions, provided that at least 33 years of contributions are credited, or at 61 years if the working career exceeds that threshold.
In both cases, however, the Social Security applies reduction coefficients to the amount of the pension. In voluntary early retirement, these discounts range from approximately 21% to 2.81%, depending on the number of months in advance and the years contributed. In forced retirement, the reductions can range from around 30% for four years in advance to around 0.50% if the advance is only one month, with larger discounts the shorter the contribution period.
Delayed retirement: more incentives for delaying retirement
In the face of cuts for early retirement, the regulations also provide incentives for those who choose to voluntarily delay their access to a pension beyond the ordinary retirement age. This delayed retirement entitles to a bonus that can take three forms: an additional percentage of the pension, a single lump-sum payment, or a combination of both if the delay is two years or more.
The reform that came into effect in April of this year introduced relevant changes. From the second year of delay, the incentive will increase by an additional 2% -or its equivalent in single payment or mixed mode- for each period of delay of more than six months and less than one year, without the need to wait to complete a full year.
In addition, the reform made active retirement compatible with the payment of the late payment supplement in any of its forms. However, as long as the pensioner remains in active retirement, no new increases in the supplement are generated.
Overall, the retirement system in 2026 reinforces the trend that began more than a decade ago: progressively delaying the retirement age, penalizing early retirement and rewarding, with increasing intensity, those who decide to extend their working lives.
