Recalculation of pensions: What does the new system mean for workers with interrupted careers?

BarcelonaA new pension calculation method will come into effect on January 1, 2026. This new method aims to address the needs of people who have had intermittent careers or been unemployed for long periods, which affects their future benefits. Among other changes, the statutory retirement age will be slightly increased. We review the new features for those retiring next year.

Ordinary retirement age

If you have accumulated at least 38 years and three months of contributions, you can retire at 65. However, if you have not contributed that many years, the legal retirement age will be increased to 66 years and 10 months. Starting in 2027, you will need to accumulate 38 years and six months of contributions to retire at 65. Otherwise, you will have to wait until you reach 67.

Required contribution period

To qualify for ordinary retirement, you must have contributed for at least 15 years, two of which must be within the last 15 years of your working life. With this contribution period, you will be entitled to 50% of your regulatory base, since the cumulative contribution period required to qualify for 100% of your pension remains, as it was this year, at 36 years and 6 months. In 2027, it will increase to 37 years.

Calculation of the regulatory base for your pension

To calculate the pension base, the new method will gradually introduce a dual system. Thus, Social Security will automatically choose the highest base between these two options:

• Considering the last 25 years of contributions.
• The 27 best years of the 29 years prior to retirement were considered. This option will be implemented progressively over the next 12 years: four additional months will be considered each year between 2026 and 2037.

The Ministry of Social Security hasa retirement pension simulator to know what the approximate amount of this benefit would be at the time a person decides to end their working life.