To access the old-age pension under the general Social Security scheme, it is not enough to want to stop working. It is necessary to meet two fundamental criteria: reach the legal access age and have recorded at least 15 years of contributions, consecutive or interpolated.
As stated by Social Security, the entity responsible for the system, many Portuguese people make a frequent mistake: assuming that only age is enough, forgetting the impact of years of discounts on the final pension accounts.
Legal age and pension calculation
The normal age for accessing the old-age pension is not fixed and varies depending on the year and the evolution of average life expectancy. According to the same source, in 2025, the legal age will be 66 years and 7 months. This gradual update aims to align the reform with demographic changes and ensure the sustainability of the system. However, reaching the minimum age without having enough years of contributions can prevent immediate access to the full pension, forcing you to prolong your career.
Minimum contribution period
The second essential requirement is a minimum record of 15 years of remuneration. Anyone who does not reach this level is not left without alternatives, but will have to resort to the social old-age pension, which has its own rules and reduced benefits. According to Social Security, ignoring this factor is one of the most common mistakes and one that significantly alters the value of the final pension.
Early retirement and long careers
There are also ways to bring forward retirement, especially for those with long careers or special situations. Among the mechanisms envisaged, the flexible retirement stands out, which allows exit from the age of 60 with, normally, 40 years of contributions. Another possibility is retirement for very long contributory careers, which authorizes retirement at age 60 with 48 years of deductions, or 46 years if the career began before age 17.
The legislation also covers cases of particularly exhausting professions or long-term unemployment, which allow early exit with actuarial cuts. According to the same source, only a few special regimes are able to reduce or eliminate these penalties, reinforcing the importance of knowing exactly the rules that apply to each worker.
How to apply for the pension
The pension application requires identification, Social Security Identification Number and IBAN. According to the same source, the application can be made online through the Social Security portal or in person.
It is essential to follow all the steps and present the required documentation so that the process can be analyzed correctly.
Beware the mistake that changes everything
Accessing the old-age pension requires more than reaching legal age. The most common mistake is to underestimate the impact of years of contributions: without sufficient time for deductions, the reform may be delayed or suffer significant cuts.
Secondly, checking the applicable requirements and special regimes in advance is essential to ensure that the right to a pension is exercised correctly and without surprises.
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