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If you’re planning to retire in Spain or already thinking about your pension, there’s a new Social Security option you should know about. It could help you get more money in retirement, even if you’re no longer working.

 

In recent months, Spain has introduced several changes to its retirement system. These updates aim to strengthen pension savings and support people who want to keep working part-time during retirement. But one change, in particular, might be especially useful if you’re no longer working and still want to keep building your pension.

 

This little-known option allows you to keep paying into the Social Security system voluntarily, even if you’re not employed. It’s done through what’s called a ‘special agreement’ with the General Treasury of Social Security. Basically, it’s a personal agreement that lets you continue paying contributions on your own.

 

One big benefit is that you can choose how much to contribute, within certain limits. This means you can still earn credit toward future retirement benefits, or even permanent disability coverage, without having to go back to work.

 

 

To qualify starting in 2025, you need to have paid into Social Security for at least 1,080 days in the last 12 years before you left your job or became inactive. This option is open to several groups of people, including those who have stopped working and some people receiving disability pensions.

 

 

The cost depends on how much you decide to contribute. You can choose a contribution level based on your previous earnings. It can be the highest amount allowed for your job category, the minimum level under RETA (Spain’s self-employed system) or an average of your recent contributions.

 

Your monthly payment is based on a rate of 28.3% of your chosen amount. There’s also a small extra charge known as the Intergenerational Equity Mechanism, which adds 0.8% now and will go up to 1.2% by 2030. This extra fee will stay in place until 2050.

 

 

The good news is the application process is now mostly online. You can submit your request through the Social Security Online Office using Form TA-0040. You’ll need a digital certificate, electronic ID or permanent Cl@ve to access the system.

 

 

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