The Social Security will continue to apply penalties to Canary Islands workers who decide to retire early, even if they have contributed for 40 years. The Executive has justified its decision based on the high economic cost that eliminating these cuts would entail, estimated at 3.358 billion euros annually for the public pension system.

This measure affects both voluntary early retirement, with an estimated cost of 1.354 billion euros, and involuntary early retirement (resulting from dismissals or reasons beyond the worker's control), which would amount to 2.013 billion euros. The economic impact is particularly significant for higher pensions, where the cuts are more pronounced.

Despite having contributed for long working careers, those who choose to retire before the established legal age (between 65 and 67 years, depending on the case) will continue to face a permanent reduction in their benefit. Voluntary early retirement allows retirement up to two years in advance, and the reduction coefficients can decrease the monthly amount by between 3% and 21%, depending on how early the retirement occurs.

The recent pension reform modified the calculation of these coefficients, applying reductions per month instead of per quarter, which intensifies the impact on the final pension. Therefore, many workers carefully analyze whether it is worthwhile to retire early or wait until the ordinary age to avoid permanent financial losses.