The Changing Pension System and Retirement Age
The Ministry of Inclusion, Social Security and Migration, led by Elma Saiz, has been implementing changes in the pension system with the aim of setting the retirement age at 67 years by 2027.
These changes have sparked the interest of many employees who want to understand how to get 100% of their pension based on their year of birth.
Requirements to Obtain 100% of the Pension
Reaching the legal retirement age does not automatically guarantee 100% of the pension. Two essential requirements must be met: reaching a minimum age and having a contribution period that varies periodically.
Adjustments to the legal retirement age began in 2013 during the government of José Luis Rodríguez Zapatero. In 2024, the retirement age remains at 65 years if you have contributed for 38 years or more; Otherwise, you must wait until age 66 years and six months.
The specific requirements to obtain 100% of the pension vary depending on the year of birth. For example, those born in 1957 can retire between 2023 and 2024, while those born in 1960 can do so between 2025 and 2027.
Contributions and Access to Pension
To receive 100% of the pension, a minimum of Social Security contributions will be required under the same regime. Retirement age provides access, but does not guarantee full collection of the pension.
Starting in 2027, 37 years of contributions will be needed to receive the full pension.