Royal Decree 416/2026, now in force, regulates flexible retirement: pensioners returning to work can receive part of their pension alongside their salary. Self-employed individuals who have not contributed in the three years prior can recover 100% upon finishing their activity.
The Royal Decree 416/2026, in force for a few weeks, changes the rules for combining retirement pensions with employment. The Ministry of Inclusion, Social Security and Migration announced the implementation of improved flexible retirement, aimed at retired individuals who voluntarily wish to return to work as employees or self-employed.
The regulation establishes brackets according to working hours. Those who combine their pension with a job as an employee can work between 33% and 80% of the working day and receive a portion of the pension proportional to that working day, in addition to their salary. If the working hours are between 33% and less than 55%, the pension increases by 15%; if it is between 55% and 80%, the increase is 25%, provided that the requirements are met. The average retirement pension stands at 1,576.1 euros per month, according to official figures, as reported by elblogsalmon.com.
For self-employed workers, the text expands the options. Retired individuals who have not been registered as self-employed in the three years prior to their retirement can combine their activity with receiving 25% of their pension. When they finish their activity, they will recover 100% of their pension.
Another option is active retirement, which sets percentages of the benefit according to the delay in accessing retirement. If retirement is delayed by one year, 45% of the pension is received; after two years, 55%; after three, 65%; after four, 80%; and after five years, 100%. With the average pension of 1,576.1 euros, delaying retirement by one year would mean receiving around 709 euros of pension per month alongside the salary, provided that the conditions are met.
The decree arrives in a context of changes to the ordinary retirement age. Starting from 2027, those who do not reach 38 years and 6 months of contributions will have to wait until 67 years to retire, except for the exceptions provided. This extension of the legal age gives more weight to compatibility formulas between work income and pension for those who decide to extend their working life.
The ministry maintains that the measure offers more flexibility, incentives, and options to combine work and pension, with a gradual transition. Receiving 100% of the pension depends on the chosen modality and meeting all established requirements.
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