The possibility of retire at 62 This is a dream for many people, especially in the context of recent pension reforms, the main objective of which is to balance a system affected by aging population. Fewer children are being born and people are living longer, increasing pressure on pension resources. In fact, in 2024, public spending in this area has reached record levels. According to the plan launched in 2011, by 2027 the retirement age will be 67 for those who do not meet the required conditions. minimum years of contributions.
These reforms therefore aim to guarantee the sustainability of the pension systembut at the same time they have gradually increased the retirement age. Opting for early retirement at age 62 involves facing significant reductions in the amount of the pension, called reduction coefficients. However, there are exceptions which allow certain groups to access the early retirement under specific conditions. The new project plans to expand access to early retirement without penalty to a greater number of professions, based on objective indicators demonstrating the importance arduousness of work.
Changes to the retirement age in 2025
2025 will bring significant changes to the pensions field, particularly with regard to conditions for access to 100% of the retirement pension. These adjustments respond to social factors such as the aging of the population and fluctuations in the labor market, aspects which affect the viability of the pension system.
This year, the retirement expenses reached historic levels, which forced an increase in contributions by 3.8% to mitigate inflation and guarantee retirees’ income. In this context, pensions are expected to increase by almost 3% next year. However, this increase will be accompanied by new conditions.
Currently, for receive 100% of the retirement pensionyou must be at least 65 years old if you have contributed for 38 years or more, in accordance with the reform implemented in 2011. From 2025, this age will be gradually delayed, adding three additional months if you have not contributed . for 38 years and three months. This adjustment will continue until 2027, when the minimum age will be 67 for those who do not reach the required contribution period. On the other hand, those who are over 38 years old and have three months of contributions will be able to continue to retire at 65 years old.
Despite these adjustments, the early retirement This will remain an option for those who have been contributing for at least 38 years and three months. This allows you to retire up to two years before the ordinary age, but with a proportional reduction in the pension, which can vary between 3.26% and 21%.
The reduction of the early retirement pension depends to a large extent on the accumulated contribution period. For those who have contributed less than 38 years and 6 months, the reduction coefficient is the highest, reaching up to 21% if the advance is made in 24 months, gradually decreasing to 3.26% if the advance is only a month. On the other hand, those who have contributed between 38 years and 6 months and less than 41 years and 6 months, benefit from slightly more favorable reductions, starting at 19% for 24 months and decreasing to 3.11% for one month.
Like the time citedthe sanctions are minor. For those reaching between 41 years and 6 months and under 44 years and 6 months, the maximum reduction is 17% for 24 months, increasing to 2.96% for one month. Finally, for contributions equal to or greater than 44 years and 6 months, the adjustment is even gentler, going from 13% for 24 months to 2.81% for one month. This system seeks to balance early access with system sustainability.
Professions that can retire at 60
In Spain, the pension system allows certain workers to retire early without incurring penaltiesprovided they meet specific conditions linked to the nature of their employment. These provisions target activities considered exceptionally dangerous, unhealthy or very physically demanding, where the risk of illness or mortality is higher. However, the minimum age to access this benefit cannot be lower than 52, except in exceptional cases which include schemes such as those for coal mines and sea workers, which maintain regulations from before 2008.
Among the professions with access to early retirement, miners stand out, which have reduction coefficients which vary between 0.05 and 0.50 depending on the time worked. They also appear pilots and flight technicianswith reductions between 0.30 and 0.40. Likewise, firefighters, artists, local police officers and members of the Ertzaintza can advance their retirement thanks to specific coefficients which recognize the harshness and risks inherent in their work. These conditions guarantee a certain flexibility, always within strict contribution and time conditions.
In short, the Spanish pension system seeks to adapt to demographic and labor challenges, establishing retirement conditionswhile recognizing the uniqueness of certain professions by authorizing early retirement under certain conditions.
