It is the possibility to access the pension before the legal age by one's own decision, without there being a dismissal or another external cause.
It is available both for employed workers and for self-employed, as long as they are registered or in a similar situation with Social Security at the time of requesting it.
The maximum advance is two years with respect to the ordinary age.
Early retirement age in 2026
The minimum age depends on the years contributed.
- If more than 38 years and 3 months have been contributed one can access from 63 years of age
- If that period is not reached the minimum age rises to 64 years and 10 months
The ordinary age continues advancing progressively and in 2026 is set at 66 years and 10 months for incomplete careers.
Requirements to access
To apply for voluntary early retirement in 2026 it is necessary:
- To have contributed at least 35 years
- To have at least 2 years contributed within the last 15
- That the resulting pension exceeds the minimum pension
- Not to advance the legal age by more than two years
In addition, some periods can be computed, such as military service, with a maximum of 12 months.
How much the pension is reduced
The key is in the reduction coefficients. The pension is not collected in full if retirement is brought forward. The cut depends on two factors:
- The months in advance
- The years contributed
In 2026, the reduction can be approximately between 2.81% and 21%. The greater the advance and the shorter the contribution career, the greater the penalty.
How to apply for it
The application can be submitted:
- Up to three months before stopping work
- At the time of cessation
- Up to three months after
It can be processed in person at the Social Security and remotely through its electronic headquarters. The administration evaluates if all the requirements are met before granting it.
Differences with involuntary early retirement
Not all early retirements are the same. The voluntary modality is a personal decision. The involuntary one occurs after a dismissal and allows advancing retirement up to four years, with different requirements and more limited access in the case of self-employed individuals.
What to take into account before deciding
The determining factor is the economic impact. A cut close to 20% is maintained throughout the life of the pension. Therefore, the decision depends on the personal situation, economic stability, and years contributed.