The retirement age in Portugal continues to be one of the biggest doubts for those who are close to ending their working life, especially because there are rules that allow leaving before the normal age without all workers being in the same conditions, depending on the years of discounts accounted for.
In 2026, the normal age for access to old-age retirement under the general Social Security regime is 66 years and 9 months. This age was set by and results from the evolution of average life expectancy at 65 years.
Still, this is not the only age that can count for retirement purposes, because the law provides for early payment schemes for those with long contributory careers.
40-year rule does not mean no-cut retirement for everyone
The best-known rule is 40 years of contribution, but it’s best not to oversimplify it. Article 21, § 2, of Decree-Law No. 187/2007 determines that a worker who is at least 60 years old and who, while at that age, has 40 or more years of remuneration records relevant to the calculation of the pension, can access the early pension, under the flexible regime, as long as he has 15 calendar years, consecutive or interspersed, with remuneration records.
In other words, the 40 years of discounts are the gateway to early retirement through flexibility, but they do not automatically mean a pension without penalty. The advantage is that, in this regime, the law protects the pension from the application of the social security factor, according to article 35, § 5, paragraph d), of the same diploma.
Cut that may still exist
Even without a social security factor, there may be another cut. Article 36 provides for a reduction of 0.5% for each month in advance, calculated in relation to the personal age for accessing the pension or the applicable normal age, as the case may be. This is why the decision to request retirement early must always be simulated before the formal request.
Article 20, paragraph 8 also establishes that the normal age can be reduced by four months for each calendar year of deductions above 40 years of age, without this reduction allowing access to the retirement pension before the age of 60.
How it works in practice
Anyone who has contributed for 41 years can reduce four months to the normal age. Anyone aged 43 can reduce 12 months. Anyone aged 46 can reduce two years.
In 2026, taking 66 years and 9 months as a reference, a person with a 43-year contributory career could have a personal pension access age of 65 years and 9 months, as long as the other legal requirements are met.
This does not mean that everyone receives the same amount, nor does it mean that everyone should ask for a pension at that moment. The value depends on the registered remuneration, the contributory career, the pension calculation rules and the exact moment in which the request is made.
There is still a regime that may be more ‘favorable’‘
For very long careers, the law may be more favorable. Article 21-A allows the advance of the pension from the age of 60 for those who have at least 48 calendar years of contributions, or 46 calendar years of contributions when the contributory career began before the age of 17.
In these cases, article 36, § 7, determines that the pension is calculated in general terms, without applying the monthly reduction provided for early retirement due to flexibility. Furthermore, article 35, paragraph 5, paragraph e), also removes the sustainability factor for pensions granted for very long contributory careers.
What to confirm before ordering
Before moving forward, the worker must confirm three points: if they have 40 years of deductions at the age of 60, if they have already exceeded 40 years of contribution career to benefit from the reduction in their personal age, or if they fall under the very long career regime, with 48 years of deductions or 46 years when they started deducting before the age of 17.
It is also important to remember that, to be entitled to retirement based on age, it is necessary to comply with the guarantee period of 15 calendar years, consecutive or interspersed, with a record of remuneration, as provided for in article 19 of Decree-Law No. 187/2007.
In 2027, the normal age for access to old-age retirement will rise to 66 years and 11 months, according to . Therefore, anyone who is close to retirement should always confirm the year in which retirement began, as two months can make a difference in the calculation and the right date to claim the benefit.
Also read:
