Spain tightens early retirement rules, raising minimum age to 65 in 2027

Effective 1 January 2027 Spain’s pension system will end voluntary early retirement at 64 years 10 months. The legal age for ordinary retirement will rise to 67, or to 65 for workers with at least 38 years and 6 months of contributions. Consequently, the earliest voluntary early‑retirement window moves to age 65.

Early‑retirement pensions remain subject to reduction coefficients. For workers with fewer than 38 years and 6 months of contributions, retiring 20 months before the legal age cuts the pension by 11 % – for example, a €1,200 monthly benefit would become €1,068. Larger advances (up to 24 months) can reduce benefits by up to 21 %, and involuntary early retirement up to 48 months early can cut pensions by as much as 30 %. These reductions apply for life and are calculated on the regulatory base.

The reforms close the 64‑year‑10‑month early‑retirement window, push the ordinary retirement age higher, and maintain the existing penalty structure, affecting workers approaching the end of their careers.