The arrival of 2025 will also mean a significant change in the retirement age of citizens in Spain. Since 2013, twelve years ago, when the conditions until 2026 were approved, we introduced a new section from January 1, 2025 so that people can retire based on their age and the years in which they contributed to the Social security. These are times of change, which we explain below regarding pensions.
Next year 2025 is coming with good and bad news regarding pensions in Spain. In the absence of official confirmation, which will arrive in December, everything indicates that contributory pensions will increase by around 3% from January, a significant amount considering that we have an increase of 3.8% in 2024. These percentages come from the annual variation of Consumer Price Index and the latest falling inflation data will result in a reduction in the increase compared to this year.
The increase in pensions is the positive note and the bad news is that, as has been common in recent years, in 2025 it will be more difficult to retire in Spain. In 2013 it was published in the Official State Gazette a new decree-law on pension reform which tightened the conditions each year until 2027. Thus, by 2025, to access the ordinary pension at age 65 with 100% of the regulatory base, it will be necessary to have listed 38 years and three months. Those who do not meet the minimum requirements will have to wait until age 66 years and 8 months.
Retirement age sections in Spain
By 2025, the conditions for being able to access ordinary retirement In Spain and this will be the case until 2027, when to be able to retire at 65, you will need to have contributed for 38 years and six months. Those who do not meet these conditions will have to wait until age 67. This will be the first time in the history of the retirement system that this age will be reached.
- 2024: 65 years old if you are 38 or over contributing – 66 years and 6 months.
- 2025: 65 years old if you are 38 years and 3 months contributors – 66 years and 8 months.
- 2026: 65 years old if you are 38 years and 3 months contributory – 66 years and 10 months.
- 2027: 65 years old if you are 38 years old and 6 months contributory – 67 years old.
These stricter conditions concerning the conditions for being able to access the ordinary pension in Spain They are not trivial and are linked to the difficulty of sustaining the retirement system. Minimum data concerning birth and arrival at birth retirement age of the generation of baby boom in Spain (born between 1958 and 1975) put the pension fund at risk in the long term. It is for this reason that the government has approved in recent years a series of bonuses for those who extend their working life beyond the age of 65 and a series of penalties for those who opt for early retirement.
New retirement spending record
Last September, Spain spent record amounts on pensions and everything indicates that these amounts will increase in the years to come. After signing historic numbers in August, in the latest benefits list he spent 12,855.2 million euros after paying 10.2 million pensions to 9.25 million people. This investment represents an increase of 6.7% compared to the same period of the previous year, largely due to the 3.8% increase planned for 2024.
The majority of pension payroll went to superannuation (73%), representing an amount of 9,400.1 million euros6.91% more than in September last year, which were distributed to 6.5 million people. Concerning the rest of contributory pensions: 2,110.4 million euros were allocated to widow’s pensions, i.e. 5.2% more than a year ago, 1,138.6 million were allocated to permanent disability benefits , 171.7 million for orphans and 34.4 million for benefits to family members.
Concerning the average retirement pension, it has also increased compared to last year, remaining at 1,445.7 euros per month. Under the General Scheme, the average retirement pension amounted to 1,604.07 euros per month, compared to 965.03 euros per month under the Self-Employed Scheme.
