If you are considering requesting early retirement in 2026, there is something you need to keep in mind in the first paragraph: the normal age for accessing the pension rises to 66 years and 9 months. This is the reference bar that will determine how much you anticipate and, consequently, how much you can lose on your pension.
The increase results from Ordinance No. 358/2024/1, of December 30, which set the legal age for 2026 and also defined the sustainability factor applicable to pensions starting in 2025.
What counts as “in advance” and what are the possible paths
According to official information, there are several channels for accessing retirement before the normal age: the age flexibility regime (for those who, at the age of 60, have at least 40 years of contributions), the very long contributory careers regime and the long-term unemployment route, among other special cases. Each path has its own rules and different impacts on the final value.
Flexibility: 0.5% per month before “personal age”
In the flexibility regime, as a rule, a reduction factor of 0.5% is applied for each month in advance compared to the normal age or your “personal age” (the normal age is reduced by 4 months for each year above 40 years of career).
In the new flexibility regime (60/40), the sustainability factor does not apply; the cut is the advance payment (0.5%/month).
Long-term unemployment: two entry points
There are two routes to long-term unemployment: at age 62 (if you have been unemployed since age 57 and have exhausted benefits, with at least 15 years of discounts), without a reduction of 0.5% per month; the sustainability factor remains.
From the age of 57 (if you were unemployed since the age of 52 and have 22 years of discounts): there is a reduction of 0.5% per month until the age of 62, in addition to the sustainability factor.
If the termination of the contract was by mutual agreement, an additional penalty is added (3% per year between 62 and the normal age), which is canceled when the normal access age is reached.
Very long careers: those who avoid cuts
There is one case in which the word “penalty” practically disappears: very long contributory careers. Anyone who is at least 60 years old and has 48 years of deductions, or 60 years old and 46 years of deductions if they started taking deductions before the age of 17, can access the pension without cuts associated with the advance payment (no 0.5%/month and no sustainability factor).
Sustainability factor: the “invisible” cut that weighs
In addition to the monthly reductions (if any), there is the sustainability factor, updated annually based on life expectancy. In 2025 it is 0.8307 (16.93% cut). For 2026 it will be fixed in a new update; The logic remains: if your claim is in a regime where the factor still applies, the loss is automatic in the initial calculation.
Legal age in 2026 and “personal age”: how everything intersects
The legal age of 2026 (66 years and 9 months) serves as a guide for counting months in advance and for calculating this reduction of 0.5% per month. In many cases, the system also calculates a personal retirement age, adjusted to your contribution career (4 months less for each year beyond 40).
If you order before this target, there are cuts; If you order at this age or later, there are no advance cuts. Important: if you ask in advance and accept the cut pension, this reduction is definitive in the flexibility regime.
What to do now if you’re aiming for 2026
Before setting a date, carry out a contributory check-up: confirm years of registered discounts, any gaps and remuneration that may be revised. Use simulators and pedagogical content to anticipate penalty scenarios in the flexibilization regime and exceptions for long careers, and validate the framework with the .
In short, 2026 arrives with a higher legal age and a framework of cuts that depends on the path chosen.
Very long careers escape cuts; flexibility implies 0.5% per month (without sustainability factor in the 60/40 regime); In long-term unemployment, the penalty varies depending on the path (57 or 62 years) and may include a sustainability factor.
Deciding the right time can save tens of euros every month: and that calculation can be done now, with the rules on the table.
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