Spain is a dream destination for many people. Its excellent climate, beaches, gastronomy and quality of life mean that many foreigners want to spend their old age here. But, is it as easy as it sounds? What do you have to do to retire in Spain? In this post, we tell you everything you need to know about retirement in Spain. Read on and find out!
What if you have never worked in Spain?
Don’t worry, there’s nothing to worry about. Even if you have never worked in Spain, you will be able to retire here without any problem. Bear in mind that your retirement pension will be paid by the country where you have spent your working life. In other words, the Spanish Social Security will not have to intervene at any time.
How do I collect my foreign retirement pension in Spain?
The only thing you need to do to collect your retirement pension in Spain is to open a bank account.
However, you must inform your country of origin that you are going to retire in Spain. To do this, you will have to submit a form to the corresponding institution in charge of retirement pension payments in your country. Each country has different forms and requires different documentation. You can contact us so that our advisors can help you with everything you need.
Also, remember that, in order to stay in Spain for more than 90 days, you will need to regulate your legal situation in the country. If you are a citizen of the European Union, all you need to do is register with the Central Register of Foreigners. If you come from a non-EU country, you will need a residence permit.
What if I am a foreigner but I have worked in Spain?
If you have worked in Spain, you will be entitled to receive your corresponding retirement pension, just like Spanish citizens. To do so, you must meet the following requirements:
- You must have worked for at least 15 years and legally contributed to the Spanish Social Security system.
- The last 2 years worked must not be more than 15 years apart from the time you apply for your pension.
You will also be entitled to receive your full retirement pension if you have contributed 35 years and 6 months or more.
Remember that the retirement age in Spain is currently set at 65. However, it is expected to rise to 67 by 2027. The retirement age does not distinguish between men and women, nor does it distinguish between nationals and foreigners who have worked in the country.
We hope we have helped you. Please do not hesitate to contact us with any questions you may have during your mobility process.
Remember that you can read other interesting posts in our blog:
No responses yet