Retire Abroad

Spain's state pension system (Sistema de Seguridad Social) provides contributory retirement pensions based on your work history. The retirement age ranges from 65 to 67 depending on contribution years - if you have contributed 38 years or more, you can retire at 65; with fewer years, the retirement age gradually increases to 67. Apply for your pension 3 months before your chosen date through INSS online (with digital certificate) or in person. Your pension amount is calculated as a percentage of your base reguladora (regulatory base) - the average of your contributions over the last 25 years (indexed for inflation). To receive 100% of your regulatory base, you need 37 years of contributions; with the minimum 15 years you receive 50%, increasing proportionally. Early retirement (jubilación anticipada) is possible from age 63 if you have sufficient contributions, but incurs permanent reductions of 2-21% depending on how early you retire and whether it is voluntary or involuntary. Spain offers partial retirement options allowing gradual transition. Public healthcare continues free for all pensioners. Pensions are paid monthly via bank transfer and are taxable income subject to IRPF, though retirees receive higher tax-free allowances than workers.