The state pension
State pensions are lifetime benefits with amounts based on the years of contributions and the regulatory bases. In Spain, the body in charge of managing them is the Social Security. We will tell you all about state pensions, what types there are, how the amounts are calculated, how they are updated and what the eligibility requirements are.
Types of Social Security pensions
The Social Security offers two basic types of pensions, depending on whether the minimum contributions to the system have been made.
How pensions are calculated in Spain
The way the state pension in Spain is calculated has been evolving constantly since the 2013 reform and is always at the mercy of political decisions to ensure the sustainability of the system.
How pensions are updated
Pensions are dynamic and change over time. Once you have calculated what your retirement pension will be and start collecting it, each year it will be updated.
Eligibility for a pension
There are a series of eligibility requirements that must be met in order to qualify for a contributory or even a non-contributory pension.