Friday 1/21/22
PENSIONS

Legal retirement age in Spain raised to 66 years and 2 months in 2022

Read in this article the main changes affecting Spanish public pensions in 2022
elderly couple bench bicycle holiday. Photo: Pixabay.
Photo: Pixabay.

With the new year 2022, the legal retirement age in Spain increases for workers who want to retire with 100% of the pension (that is, without discounts for early retirement or caused by gaps in the contribution period). From 1 January 2022, they must be at least 66 years and 2 months old.

This increase in the retirement age is the result of the reform of the Spanish pension legislation in force since 2013, which established the gradual increase of the retirement age, from 65 to 67 years, during the following 15 years.

According to the calendar, in Spain ordinary retirement will be at the age of 67 in 2027.

However, in 2022 people who have worked and paid contributions to the Social Security system for 37 and a half years can still retire at age 65, according to Social Security data.

This contribution requirement to retire at age 65 will also continue to increase gradually until 2027, when 38 and a half years of contributions will be mandatory.

The 2013 reform kept in force the minimum contribution requirement to be able to access a contributory retirement pension in Spain. It is necessary to have contributed at least 15 years, two of which must be within the 15 years prior to retirement.

Calculation period increases

In addition, in 2022 the period for calculating the pension amount increases by one year compared to 2021.

As of January 1, the pension is calculated taking as reference the contributions of the last 25 years.

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