Overview

• Spain's legal retirement age is now 66 years and eight months, or 65 for those with over 38 years and three months of contributions.
• Voluntary early retirement is allowed from age 63 if workers meet stringent contribution requirements, with penalties of up to 21% for retiring two years early.
• The Instituto Nacional de la Seguridad Social (INSS) clarified that workers in partial retirement can reduce their work schedule by up to 75% within two years of ordinary retirement age, even if the first year is incomplete.
• Non-contributive pensions provide a safety net of €564 monthly for residents over 65 who lack sufficient contributions, while France offers higher means-tested benefits under the Aspa program.
• Personal stories, like a TikTok user retiring early at 62 due to medical tribunal approval, highlight the real-world impact of these reforms.