The retirement age is expected to rise to 66 years and 11 months in 2027, an increase of two months compared to the value established for 2026, according to calculations based on provisional data released by INE.
According to the provisional estimate of average life expectancy at age 65 for the 2023-2025 triennium, released today by the National Statistics Institute (INE), this value was estimated at 20.19 years, showing an increase of 0.17 years (2.04 months) compared to the 2022-2024 triennium.
Based on these data it is possible to calculate that in 2027 The legal age for access to retirement will be 66 years and 11 months.
This value is two months higher than in 2026which had already risen two months compared to 2025.
In 2024, the retirement age remained unchanged, at 66 years and four months, compared to 2023, a year in which there was a decrease of three months compared to the age set for 2022, something unprecedented since the retirement age became associated with average life expectancy.
Both the reduction in 2023 and the maintenance of the age for 2024 are associated with the decline in average life expectancy due to mortality associated with the covid-19 pandemic and its incidence among the older population.
The provisional value of life expectancy at age 65calculated annually by INE, is published in November, serving as a reference for the purposes of determining the normal age for access to the old-age pension under the general Social Security regime and the sustainability factor to be applied to the statutory amount of old-age pensions under the general Social Security regime.
