The objective of the Ministry of Inclusion, Social Security and Migrations
For a considerable time, the Ministry of Inclusion, Social Security and Migration, currently led by Elma Saiz, has implemented a pension system with the purpose of setting the retirement age at 67 years by 2027. This has generated interest among employees, who want to know how they can receive 100% of their pension based on their year of birth.
Requirements to receive 100% of the pension
Reaching the legal retirement age does not automatically guarantee receiving the maximum pension amount. To do so, two essential requirements must be met: reaching a minimum age and having an adequate contribution period. These requirements vary periodically.
Adjustments to the legal retirement age
Adjustments to the legal retirement age began in 2013 during the government of José Luis Rodríguez Zapatero. Previously, only 65 years of age was required to retire from the labour market. However, from 2024, the retirement age remains at 65 years only if one has contributed for 38 years or more. Otherwise, one must wait until 66 years and six months.
Retirement ages according to year of birth
People born in different years have different retirement ages. For example, those born in 1957 can retire between 2023 and 2024, while those born in 1958 can do so between 2023 and 2025. To receive 100% of the pension, it is necessary to have a minimum of Social Security contributions under the same regime. Retirement age only provides access, but does not guarantee collection. Therefore, workers who retire between 2023 and 2026 will need to have 36 years and six months of contributions. Starting in 2027, 37 years of contributions will be required to receive the full pension.
