By Sarah Keane •
Published: 09 Dec 2020 • 21:21
SPANISH retirement age pushed out to 66 from January
The pension age in Spain is set to be extended to 66 years from January, and will eventually climb to 67 by the year 2027. Brussels is setting the new age limits in order to secure European funds for Spain’s Reserve Fund, which has been more or less exhausted.
Under the new rules, anyone wanting to retire throughout 2021 with 100 per cent of the state pension must have reached 66 years of age; since 2019 the retirement age has been increasing at two monthly increments to reach the required 67 by 2027.
There are some exceptions to the law. For example, workers who have contributed to the system for 37 years and six months may retire and receive their full pension at 65.
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Former teacher and health services manager with a Degree in English, Sarah moved to Spain from Southern Ireland with her husband, who runs his own car rental business, in 2019. She is now enjoying a completely different pace and quality of life on the Costa Blanca South, with wonderful Spanish and expat friends in Cabo Roig. Sarah began working with Euro Weekly News in 2020 and loves nothing more than bringing all the latest national and international news to her local community.
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