Retirement in Spain: Pension Age and Benefit Amounts

The retirement age in Spain depends on the length of employment. In 2024, the standard retirement age is 66 years and 6 months for those with less than 37 years and 9 months of contributions. If the contribution period exceeds this threshold, it is possible to retire at the age of 65.

Pension amount.

The amount of benefits is calculated based on the length of employment and salary level. On average, pensioners receive between 1,100 and 1,200 euros per month. To qualify for a state retirement pension (Spanish: pensión de jubilación) in Spain, you must have worked for at least 15 years (with certain exceptions).

The size of the pension in Spain depends on the average earnings over the entire contribution period and the total length of employment. The higher the contributions and the longer they are paid, the higher the pension. Minimum and maximum pensions are periodically reviewed in line with inflation and government policy.

If professional activity has been carried out outside Spain, international agreements apply. Spain has concluded agreements with the EU and countries such as the USA and Canada, allowing contribution periods accumulated in different countries to be combined in order to qualify for a pension.

Spain’s pension system provides stable financial support for older people and encourages long-term employment relationships.

Non-contributory pension in Spain for permanent residents.

Spanish residents who do not have sufficient contribution periods to qualify for a standard pension can receive a non-contributory retirement pension (Pensión no contributiva de jubilación). The following conditions apply to this social benefit:

- Age 65 or over.

- At least 10 years of residence in Spain, of which 2 years must be immediately prior to submitting the application.

- Personal and household income must not exceed the established limits.

In 2024, the pension amount is around 460 euros per month, but the exact sum depends on the level of income.

Applications are submitted to the Instituto Nacional de la Seguridad Social (INSS).

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