Spain expands early retirement options and pre‑retirement schemes

Large Spanish companies are offering voluntary early exits, called “pre‑retirement”, that let workers leave before the statutory age with a private payout. Banco Santander alone may grant the scheme to up to 5,000 staff aged 55‑57 at around 75 % of salary, extending contributions with the Social Security until 63 years.

The government has also broadened the pathway for early retirement at 56 without a pension penalty for workers with recognised disabilities of 45 % or more. Eleven new medical conditions – including Parkinson’s disease, Huntington’s disease and chronic kidney failure – have been added, benefitting an estimated 50 000 people.

Separately, retired seniors in A Coruña are increasingly active in volunteer work, now representing over 23 % of all volunteers in Spain and tripling their share in the city within a year. A separate complaint from a worker who retired at 63 highlights that early retirement can still trigger pension reductions under certain rules.