The arrival of 2024 will bring important news regarding retirement that, with regard to the legal age so that a worker can withdraw from the labor market, they materialize in a new two-month increase compared to 2023 to qualify for a pension.
These increases in the retirement age have been implemented gradually since 2019 and respond to the decision of that in 2027 the ordinary retirement age in Spain will be established at 67 years.
Thus, from next January 1, those workers who have contributed to Social Security for a minimum of 38 years will be able to retire at the age of 65, while those who do not reach that figure will not be able to retire before having turned 66 years and six months.
On the other hand, those who wish to request a early retirement and voluntarily may do so 24 months before the legal retirement age, although this option entails percentage penalties on the monthly amount that the future retiree will receive.
The increase in the legal retirement age is due to desire to preserve the sustainability of the pension system Spanish public.
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