The retirement age is still getting further away. According to the forecasts contained in the 26th Report of the State General Accounting Office, the ordinary age threshold will gradually rise until it reaches 67 years and 6 months in 2029 and 67 years and 8 months in 2031.
Today the age at which one can access the old-age pension is 67 years, but it will rise to 67 years and 1 month in 2027 and to 67 years and three months in 2028. Then there will be a further leap. The adjustment to life expectancy is a mechanism provided for by law, but the increases are not automatic in reality until the implementation decrees are issued. With last year’s budget law, the government intervened to partially neutralize the increases expected from 2027, but with life expectancy lengthening and demography collapsing it is clear that the trend is marked.
The requirements for early retirement are increasing
At the same time, the contribution required for early retirement is growing regardless of age: for men it will go from the current 42 years and 10 months to 42 years and 11 months in 2027, 43 years and 1 month in 2028 and 43 years and 4 months in 2029 (with one year less for women). The measures serve to contain the peak of social security spending, which will reach its historic maximum of 17.1% of GDP in 2041.
| Year | Old age pension age |
| 2026 | 67 years old |
| 2027 | 67 years and 1 month |
| 2028 | 67 years and 3 months |
| 2029 | 67 years and 6 months |
| 2030 | 67 years and 6 months |
| 2031 | 67 years and 8 months |
| 2032 | 67 years and 8 months |
| 2033 | 67 years and 9 months |
| 2034 | 67 years and 9 months |
| 2035 | 67 years and 10 months |
| 2036 | 67 years and 10 months |
| 2037 | 68 years old |
Below are the Accounting Office’s estimates on the contribution requirements for early retirement.
| Year | Men | Women |
| 2026 | 42 years and 10 months | 41 years and 10 months |
| 2027 | 42 years and 11 months | 41 years and 11 months |
| 2028 | 43 years and 1 month | 42 years and 1 month |
| 2029 | 43 years and 4 months | 42 years and 4 months |
| 2030 | 43 years and 4 months | 42 years and 4 months |
| 2031 | 43 years and 6 months | 42 years and 6 months |
| 2032 | 43 years and 6 months | 42 years and 6 months |
| 2033 | 43 years and 7 months | 42 years and 7 months |
| 2034 | 43 years and 7 months | 42 years and 7 months |
| 2035 | 43 years and 8 months | 42 years and 8 months |
| 2036 | 43 years and 8 months | 42 years and 8 months |
| 2037 | 43 years and 10 months | 42 years and 10 months |