Retirement Pension in Spain: How It Works and How Much You Will Receive
thecalculator.tech
16 June 2026 · 6 min read
We explain how the public retirement pension is calculated: regulatory base, percentage by years contributed, retirement age and how to estimate your future pension.
The two key factors: regulatory base and percentage
The gross monthly pension is calculated as: Pension = Regulatory base × Percentage by years contributed. The regulatory base is the average of contribution bases over the last 25 years (300 months), adjusted for CPI. The percentage ranges from 50% with 15 years to 100% with 37 full years by 2027.
The 2025–2027 percentage scale
With 15 years contributed: 50%. Each additional year from 16 to 25 adds 0.90%. Each year from 26 onwards adds 0.19% per month (2.28%/year). With 37 years: 100%. From 2027, the scale will reach 100% at 37 years and 3 months of contributions.
Retirement age in 2026
The legal retirement age in Spain is rising progressively to 67 by 2027. In 2026 it is 66 years and 8 months for those who have contributed fewer than 38 years and 3 months. If you have contributed 38 years and 3 months or more, you can retire at 65. Early retirement penalises the pension by 0.21–0.25% per month brought forward.
What if the pension is too low?
There is a guaranteed minimum pension. If the calculated pension is below the minimum, the State tops up the difference provided the pensioner has no other income above the established limit. In 2025, the minimum pension for a single pensioner or one with a dependent spouse was around €900/month.
This calculator is indicative. For your real estimated pension, use the official Social Security simulator or request a working life report at your local Social Security office.
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