Retiring does not necessarily mean an immediate exit from professional activity. In many companies, especially family businesses, SMEs or businesses managed directly by shareholders or directors, the transition into retirement requires planning.
From 28 August 2026, new measures will come into force in Spain that broaden the possibilities of combining a retirement pension with a professional activity.
This is a particularly relevant change for business owners, self-employed workers, directors and professionals who are approaching retirement and are considering how to organise this new stage.
However, the application of these alternatives will depend on the specific circumstances of each case. Therefore, it is advisable to understand which options are available and how they may affect both the person retiring and the company itself.
Retirement and continuity within the company: what changes from August 2026
Flexible retirement allows a retirement pension, once recognised, to be combined with work activity.
Until now, this figure has been closely linked to part-time employment. In this case, the working hours must be between 33% and 80% of the working hours of a comparable full-time worker.
In addition, if the employed activity begins for the first time once at least six months have passed since retirement, the compatible pension may be increased by certain percentages depending on the working hours performed.
Self-employed workers and professional activity
The new regulation broadens the framework and also allows the pension to be combined with self-employed activity, provided that certain requirements are met.
However, this option will not apply automatically in all cases. The rule requires that, in the three years immediately preceding the event triggering the retirement pension, the pensioner must not have been registered as a self-employed worker.
In these cases, the amount of the pension compatible with self-employed activity will be 25%.
For this reason, for business owners, shareholders or directors approaching retirement age, it will be especially important to review their previous contribution situation, their Spanish Social Security regime and the role they wish to continue performing within the company.
Prior notification and planning
The pensioner must notify the managing body in advance of the start of any employed work or self-employed activity that determines the application of flexible retirement. They must also notify any changes in working hours or the cessation of the activity.
This notification is key, as failure to communicate this information may cause the pension received to be considered undue, with an obligation to repay it and possible penalties.
In practice, it is not only a matter of deciding whether to continue working or not. It is necessary to review how that continuity will be structured: type of activity, working hours, remuneration, corporate framework, functions within the company and effects on the pension.
Planning retirement in advance: a strategic decision for the company
This reform opens an interesting scenario for those who wish to retire gradually, maintain a certain professional link or facilitate an orderly transition within the company.
From LEIALTA’s labour department, we support directors and companies in planning these processes, analysing the best way to organise the business transition.
A well-planned retirement does not only affect the person retiring. It also affects the continuity and stability of the company.
