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Parliament approves raising retirement age to 67

Thu 21st Jul 2011

Spain's Parliament has today voted in favour of a government proposal to increase the country's age of retirement from 65 to 67. The bill was carried after a number of minor amendments were made by the Senate.

At the moment Spanish residents of both sexes retire with full benefits at 65, assuming they have contributed into the social security system for 35 years.

The new law increases the age of retirement to 67 and required contributions 37 years, however, retirement is still possible at 65 if 38.5 years of contributions have been made.

The changs will state to be phased in from 2013 and should be complete by 2025.

Comment on this Story

 
1. I am 63 years old. Made redundant in 2010 with 15 years contributions in spain and 22 in UK. At present on 'paro' (unemployment benifit). Will I still qualify for Spanish pension in April 2013? 2. My wife is in similar position. Redundant in 2011 with 14 years contributions in Spain. Also on paro (presume contrbutions are continuing). She is receiving state pension from UK, since 2009, based on 17 years contributions. She will be 65 in October 2014. How is she fixed for Spanish pension?
Jack S. - Tue, 8th Nov 2011