pension contribution rules, USA News (Gibraltar): The Government has confirmed changes to Gibraltar’s pension contribution rules following the reduction of the retirement age for men from 65 to 60.
HM Government of Gibraltar has completed the equalisation of the Old Age Pension system following the reduction of the pensionable age for men from 65 to 60. The change, announced by the Chief Minister during the 2026 Budget Address, took effect on 1 July 2026 and brings the pensionable age for men into line with that already applicable to women.
As a direct consequence, the contribution requirements used to determine entitlement to an Old Age Pension have also been equalised. Men will now require 2,000 paid or credited contributions over the course of their working lives to qualify for a full Old Age Pension, rather than the previous requirement of 2,250 contributions.
The minimum qualifying condition for a reduced Old Age Pension has similarly been reduced from 585 to 520 paid or credited contributions. The method used to calculate pension entitlement has also been adjusted. Contributions paid or credited from the contribution year in which a person reaches the age of 20 until the end of the last complete contribution year before reaching pensionable age will now be divided by 40, instead of the previous divisor of 45 applicable to men.
The amount of Old Age Pension payable will continue to depend on the total number of paid or credited contributions accumulated during a person’s working life. The current maximum monthly pension is £603, while the minimum monthly pension is £156.60.
The Chief Minister, the Hon Fabian Picardo KC MP, stated that reducing the pensionable age for men to 60 required a fair and proportionate adjustment to qualifying contributions. He noted it would not have been right to reduce the pensionable age while continuing to assess men against a 45-year contribution period, adding that the reform ensures men and women are treated on the same basis.
Anyone who has reached, or will shortly reach, the age of 60 and believes that they may now qualify for an Old Age Pension is encouraged to submit an application to the Department of Social Security as soon as possible. The Department is processing applications promptly, though members of the public are asked for patience during the assessment period.
