Many workers view the legal retirement age as an automatic end point. Once this is reached, leaving the job market appears almost like an implicit obligation. However, the public pension system in Portugal provides for a mechanism that changes this scenario: anyone who postpones applying for a pension after the normal access age, while remaining active, can benefit from a bonus that translates into an increase in the value of the pension.
In 2026, the normal age for accessing the old-age pension is 66 years and 9 months, as established by Ordinance No. 358/2024/1, of December 30th. According to the Social Security website, from that age onwards, the worker can request the pension, but can also choose to postpone the request. In this case, each additional month with recorded remuneration gives the right to a bonus provided for by law.
A bonus that grows month by month
The bonus is not the same for everyone. It depends on the number of years of remuneration records existing at the time the beneficiary reaches the normal age for accessing the pension.
In accordance with the legal regime for old-age pension, provided for in Decree-Law no. 187/2007, in the current wording, the pension is bonused for each month of work after that age, applying monthly rates organized by levels.
The rate is 0.33% per month for contributory careers between 15 and 24 years. It rises to 0.5% in cases of 25 to 34 years of registration. For those aged between 35 and 39, the monthly bonus is 0.65%. At the highest level, the rate reaches 1% for each month of postponement.
At the end of a year, the impact varies significantly. Twelve months of deferral can result in an increase of 3.96% in the lowest bracket or up to 12% in the highest bracket.
There is, however, a limit: the bonus is only applied up to 70 years of age, even if the worker continues to work beyond that point.
The impact on the value of the pension
An example helps to understand the practical effect. A worker in the maximum bonus bracket, with an estimated pension of 1,000 euros, decides to postpone the request for 12 months after the normal age. With a bonus of 1% per month, the pension increases to 1,120 euros.
Postponing your pension is not the same as accumulating retirement and work
It is important to distinguish two distinct situations. One is to postpone applying for a pension and continue working. Another is to apply for a pension and maintain accumulated professional activity.
In the second case, there is no bonus for postponement. A different mechanism applies: the pension can be increased annually based on the earnings recorded in the previous year, through a calculation that corresponds, in simplified terms, to 2% of the total annual earnings, divided by 14.
The decision to postpone retirement depends on personal and professional factors, such as health, job stability and income level.
Still, the data shows that even a few months of postponement can have a relevant impact on the final value of the pension.
As mentioned by , to assess the effect in the specific case, the safest option is to use simulations available on official platforms, comparing the pension application at normal age with the postponement of the application.
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