Retirement continues to be one of the main concerns of self-employed people, especially in a context where rules have evolved over recent years. In Portugal, self-employed workers registered with Social Security are, as a rule, covered by the general regime, although some professions have their own systems, such as CPAS. And, as gov.br reminds us, access to the pension and the amount to be received depend on the social protection system for which it was deducted, the deductions made and the age at which retirement is requested.
According to the official service “Application for an old-age pension” and Decree-Law no. 187/2007, access to an old-age pension depends not only on age, but also on contributory career. This is a decisive factor, because it directly influences the final value of the retirement.
How old do you need to be entitled to a pension?
In Portugal, the minimum period of discounts to access the old-age pension is 15 calendar years with a record of remuneration, whether consecutive or not. This is the guarantee period provided for in article 19 of Decree-Law No. 187/2007 and applies, as a rule, to beneficiaries of the general regime, including self-employed workers registered with Social Security.
However, meeting this requirement does not mean being entitled to the maximum possible pension amount. With minimal deductions, the person acquires the right to an old-age pension, but the amount will normally be below what they would obtain with a longer and more stable contributory career.
There is also an important detail that often goes unnoticed: not every year of contributions counts in the same way. According to article 12 of Decree-Law No. 187/2007, for the purposes of the guarantee period, calendar years in which there are at least 120 days with remuneration records count. When this does not happen in a year, the days can be grouped together until new blocks of 120 days are completed.
In the case of self-employed people, there is another relevant detail: gov.br itself reminds us that, if the person benefits from the exemption for the first year of activity and chooses not to deduct it during this period, these 12 months do not count towards retirement.
What defines the value of the pension
To determine the pension amount, the law looks at more than the minimum number of years. The calculation takes into account the reference remuneration and the pension formation rate, which varies according to the relevant years and the value of the registered remuneration. In general terms, the longer and more consistent the relevant contributory career, the higher the pension tends to be.
According to article 28 of Decree-Law No. 187/2007, for beneficiaries registered from January 1, 2002, the reference remuneration is calculated based on the total revalued annual remuneration of the entire contributory career, up to a limit of 40 years. For those registered until December 31, 2001, calculation transition rules continue to apply.
In practice, this means that there is no single universal number that automatically guarantees a “full pension” for everyone. There is a minimum of 15 years to open the right to a pension, but the final amount depends on the relevant contribution career, the registered earnings and the calculation rules applicable to each beneficiary.
Retirement age also counts
The normal age for accessing the old-age pension is another determining factor. In Portugal, this age is adjusted according to average life expectancy. For 2026, it is set at 66 years and 9 months, according to Ordinance No. 358/2024/1.
Retirement before this age may imply reductions in the value of the pension, although there are special regimes and exceptions, namely for very long careers, long-term unemployment and certain professions. gov.br itself refers to these types of early retirement due to age.
How to know how much you will receive
Before making any decision, it is possible to consult the contribution career with the INSS. The Social Security portal allows you to consult contribution records over the years and obtain the necessary information to confirm whether there are missing periods or incomplete careers.
There is also an official pension simulator, provided by Social Security, which allows you to estimate the approximate amount you will receive upon retirement. According to gov.pt, the Direct Social Security simulator allows you to see an estimate of the value of the pension based on registered wages and the date chosen for retirement.
In the end, knowing the years of discounts is essential, but understanding how these years count in the law is even more important. And, for many independent workers, this detail can make the difference between just being entitled to a pension or reaching retirement with a value closer to what they expected.
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