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Banco Santander
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Retirement Simulator

Calculate the state pension you will receive when you reach retirement age.

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How can I find out when I will be able to retire?

To find out when you will be able to retire, you should take into account two variables that will determine when you will be able to stop working:

  • Your age: since the last pension reform was approved in 2011, the retirement age has been progressively pushed back until 2027, when it will reach 67. The minimum retirement age will therefore depend on what year it is: for 2024, the bar is set at 66 years and 6 months.
  • Your employment history: the other factor to take into account is the minimum number of years you have contributed for throughout your working life. As with retirement age, this minimum is also being progressively increased until 2027, when it will reach 38 years and 6 months. In 2024, you must have contributed for at least 38 years in order to be able to retire.

How does the retirement simulator work?

The simulator calculates your estimated public pension at retirement, your estimated salary at that age and how much you would need to have saved in order to be able to start enjoying that salary.

How does retirement age and the number of years I have contributed affect the simulator results?

The later the retirement age, the higher the estimated salary the tool will calculate on that date (including adjustment depending on salary inflation). This depends on the number of years you have contributed for as well as on the calculation of the estimated pension you will receive on retirement.

In addition, when drawing up the savings recommendation, the period of time available for saving will determine whether or not it is possible to cover any difference between the estimated public pension and the last salary received.

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