The retirement age in Portugal will increase to 66 years and 11 months in 2027, according to new data on average life expectancy released this Thursday by the National Statistics Institute (INE). The increase represents two more months compared to the predicted age for 2026, which is 66 years and nine months.
According to Notícias ao Minuto, the update results from the evolution of life expectancy at age 65, which is now set at 20.19 years in the three-year period 2023-2025. This value represents a growth of 0.17 years compared to the previous period and marks the resumption of the upward trend interrupted during the pandemic years.
With the aging of the population and the decline in birth rates, the retirement age continues to adjust automatically. This mechanism predicts annual variations depending on longevity data, making increases practically inevitable in the medium term.
First differences will already be felt from 2026
For 2026, the legal retirement age had already been set at 66 years and nine months, through an ordinance published in the Diário da República. With the new numbers now released, anyone retiring in 2027 will have to work two more months to access the pension without penalties.
This gradual increase has a direct impact on the plans of those at the end of their careers, forcing many workers to extend their working lives to avoid cuts in the value of their retirement.
Portugal approaches the top of Europe
A recent report from the Organization for Economic Cooperation and Development (OECD) points out that Portugal is on track to have one of the highest retirement ages among developed countries, potentially reaching 68 years of age in the future.
The country is part of the group of States that automatically adjust the retirement age to life expectancy, as happens in Denmark, Sweden, the Netherlands, Italy or the United Kingdom.
System mission and impact on beneficiaries
The aim of increasing the retirement age is to guarantee the sustainability of the pension system in a context of greater longevity and fewer active contributors.
For future pensioners, this evolution requires greater financial and professional planning. The early dissemination of changes still allows some degree of preparation on the part of workers.
According to , the retirement age will continue to be reviewed annually based on data from INE, maintaining the current automatic update model in force.
Publication in the Official Gazette then makes official the age applicable to each calendar year.
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