It is required to contribute for 15 years. at least Two of them must be within 15 years of retirement. With this, 50% of the regulatory base of the pension is obtained (reference data obtained from the employee’s contribution). For each year of contribution from the sixteenth onwards, it increases a little more until it reaches 100%. In 2026 it will take 36 and a half years. There will be 37 starting from 2027. We have already explained why 15 years is not enough.
From 2026 Two methods are considered for calculating the regulatory basis. Social Security uses the most favorable for workers. One is to divide the sum of the last 300 contribution bases (25 years) by 350. Another is to divide the sum of the 302 highest bases of the last 304 months (this allows us to discard the two worst ones) by 352.33. If these methods yield insufficient results, the minimum pension comes into play.
Three are minimal and complementary
It’s not just the minimum. Royal Decree 241/2026 establishes three annual amounts for those over 65 years of age. Divided into fourteen payments, they result in: 1,256.60 euros (with dependent spouse), 936.20 euros (single-person economic unit, i.e., without a spouse) and 888.70 euros (with a spouse who is not financially dependent on the pensioner). It is the smallest of the three. Those without a spouse have a minimum of 47.50 euros more.
However, it is not obtained by contributing for 15 years. This is a supplement that is added by Social Security If the amount of pension is less (Article 59 of the Act). Royal decree establishes that you must reside in Spain. In addition, other income (excluding pension) cannot exceed 9,442 euros per year. This includes income from labor and capital; Economic activities and capital gains. If you have a dependent spouse, the limit is 11,013 euros (adding both incomes).
Here’s the crack. Retrospectively, in the calendar year in which the income limit is found to have been exceeded, the supplement collected in that year will be deemed to have been wrongly received. And although it is mandatory to notify Social Security, in one month you cannot avoid paying it back. It is also not possible to assemble. It is a scaffold that is suddenly removed when the conditions are no longer met.
To get an idea, we can do a little calculation ourselves.. With only 15 years, half of the regulatory base is charged. The minimum is only exceeded if it exceeds 1,777.40 euros (with a non-dependent spouse); 1,872.40 euros (without a spouse); 2,513.20 euros (with dependent spouse). For example, if the base is 1,200 euros, the pension is 600. If you also meet the income requirement (without a spouse), the supplement is 336.20 euros.
Retirement age and what will happen in 2027
Age also increases. Those who retire in 2026 with less than 38 years and three months of contributions will have to wait until 66 years and ten months. Starting in 2027, those with 38 years and six months without contributions will have a normal age of 67 years. For those aged that year, it will continue to be 65. With 15 years of contributions, the 67-year-old is the person who begins on January 1, 2027 (Seventh Transitional Provision of the Act).
The prospect of early retirement is not the solution to this short career. For early retirement (voluntary), effective 35 years (two years less than normal age) must be contributed. Furthermore, it is necessary that, after applying the reduction (which ranges from 2.81% to 21% depending on the advance months and years of contribution) the pension exceeds their minimum at the age of 65.
On the other hand, we must know what these amounts will be worth in 2027.. Pensions are revalued every January with the average inflation of the 12 months preceding December. The minimums also need to be updated with the same percentage. However, in 2026 the government has decided to raise the minimum to more (over 7%) than the rest (2.7%) (Ministry of Inclusion).
In September, annual inflation was 4.9% (INE, October 14, 2026). However, this average is not closed until November data is known. Additionally, the 2027 standard is pending approval. On the other hand, age value is determined by law. 67 is not related to CPI.
Picture | Europa Press
