Overview
- The Council of Ministers approved the royal decree on Tuesday, May 26, 2026, and the government says it will publish the text in the BOE with the rules taking effect three months after publication, reported as around August 27, 2026.
- For the first time certain self-employed workers (autónomos) can use the flexible retirement scheme, provided they were not registered as self-employed in the three years before retiring.
- Part-time work bands rise from 25–75% to 33–80% of a full schedule, with pensions cut in proportion to hours worked and an extra pension top-up after six months for higher part-time shares (25% extra for 55–80% and 15% extra for 33–55%).
- Autónomos who return to compatible activity may receive up to 25% of their pension while working and the reform allows recalculation of benefits for those who took involuntary early retirement so their final full pension can improve.
- The government frames the changes as a way to ‘popularise’ flexible retirement and raise contributions by getting more retirees back into work, noting current use is very limited (roughly 3,000 people) and the move is part of wider talks with unions and employers on pension sustainability.