The retirement age in Spain depends on the length of service. In 2024, the standard age is 66 years and 6 months for those with less than 37 years and 9 months of service. If the length of service exceeds this period, you can retire at 65 years old.
Pension amount.
The amount of payments is calculated based on the length of service and the level of wages. On average, pensioners receive 1,100–1,200 euros per month. To be eligible for state retirement pension (pensión de jubilación) in Spain, you must have worked for at least 15 years (with some exceptions).
The pension amount in Spain depends on the average earnings throughout the contribution period and the total length of service. The higher the amount and duration of contributions, the higher the payment. Minimum and maximum pensions are revised in accordance with inflation and government policy.
If employment was held outside of Spain, international agreements are taken into account. Spain has agreements with the EU and countries such as the USA and Canada, allowing for the aggregation of work periods to qualify for a pension.
The pension system in Spain provides stable financial support to the elderly, encouraging long-term employment relationships.
Non-competitive pension in Spain for individuals with permanent residency.
For residents of Spain who do not have sufficient length of service to qualify for the standard pension, an age pension is available, independent of the payment of contributions (Pensión no contributiva de jubilación). This social benefit has the following conditions:
- Age 65 and older.
- Residing at least 10 years in Spain, of which 2 were immediately before applying.
- Personal and family income must not exceed the established limits.
In 2024, the pension amount is about 460 euros per month, but the exact sum depends on the income level.
The application is submitted to the Instituto Nacional de la Seguridad Social (INS).
