The possibility of accessing early retirement without cuts continues to raise doubts among many workers, especially at a time when the rules are undergoing changes and are not always easy to interpret.
In 2026, the normal age for access to old-age retirement under the general Social Security regime is 66 years and 9 months, according to . For many, retiring before this age automatically means accepting penalties on the amount of retirement, which leads to postponing important decisions, even when there are exceptions provided for by law.
Even so, there are specific situations in which it is possible to access early retirement without suffering cuts, although these exceptions are not always known to most taxpayers.
There is a rule that allows you to avoid cuts in retirement
In certain cases, it is possible to retire before the normal age without penalties, as long as very specific conditions related to the contributory career are met.
One of the most relevant situations is the so-called personal retirement age. According to article 20 of Decree-Law no. 187/2007 and the Social Security Old-Age Pension practical guide, this age results from a reduction of four months for each year of discounts above 40, without being able to lower it from 60 years.
In these cases, the law provides a mechanism that can reduce or eliminate penalties associated with early retirement, especially for those with long contributory careers.
In addition, there is the very long contributory career regime, which allows you to retire without cuts from the age of 60, as long as you have 48 years of contributions, or 46 years, if the career started before the age of 17.
There are also specific regimes with their own rules, such as long-term involuntary unemployment, some particularly painful or exhausting professions and the old-age disability pension age anticipation scheme.
Not everyone is entitled to the same conditions
Despite these exceptions, early retirement continues, in many cases, to imply cuts in the value of the pension, especially when the required requirements are not met.
Under the age flexibility regime, these cuts result from a reduction of 0.5% for each month in advance of personal retirement age. And, when the law requires the sustainability factor to be applied, this cut continues to weigh on the final value of the pension. According to Ordinance No. 476/2025/1, the sustainability factor applicable to pensions starting in 2026 is 0.8237.
Therefore, the difference between meeting the criteria or not can have a significant impact on the final value of the pension.
Contributory career makes all the difference
The number of years of discounts is one of the most determining factors in this process, as a longer contributory career can open the door to more advantageous conditions.
Those who started working earlier and accumulated many years of contributions can, in some cases, retire before the normal age without suffering penalties. But it’s not enough to just look at the total years deducted: they also count the worker’s age, the moment at which they completed 40 years of contributory career and, in certain situations, the age at which they started working.
On the other hand, those with shorter careers tend to face more significant cuts, which makes the decision more sensitive.
Simulating before deciding is essential
Before departing for early retirement, it is recommended to carry out a simulation to understand the financial impact of the decision.
This simulation allows you to compare scenarios and assess whether it is worth bringing forward the renovation or waiting a little longer. The Social Security Direct pension simulator continues to be one of the most useful tools for this purpose.
Furthermore, it helps to avoid surprises and make more informed decisions, taking into account the individual situation of each worker.
Decision depends on several factors
The choice between retiring early or waiting until your normal age depends on multiple factors, including your financial situation, health and personal goals.
Although there are rules that allow cuts to be avoided, not all workers are covered by these exceptions.
In the end, and despite often going unnoticed, there is a rule that can make all the difference when deciding: understanding your personal retirement age and whether or not your contributory career allows you to anticipate your retirement without cuts.
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