The evolution of old-age pensions in Portugal is being marked by changes in the profile of pensions and the average amount paid to retirees, in a context in which the age at which people leave the job market continues to increase among public employees. The most recent data also points to changes in the structure of new pensions granted in the Caixa Geral de Aposentações system.
According to the Public Finance Council, in an analysis based on information from Caixa Geral de Aposentações for 2025, the average old-age pension registered an increase compared to the previous year.
According to the newspaper, the average monthly value of old-age pensions increased by 53 euros in 2025, rising from 1,707 euros in 2024 to 1,760 euros the following year. This growth is associated with the characteristics of the new pensions granted. The Public Finance Council explains to the same source that this increase is largely due to the growing weight of new central administration reforms, the average value of which is higher than the global set of pensions.
Pensions awarded to new retirees from the central administration presented, in 2025, an average value of 2521 euros, which represents an increase of 2.5% compared to the previous year. The analysis cited by Correio da Manhã adds that these new beneficiaries represented 44.3% of the total new pensions granted by Caixa Geral de Aposentações in the same year.
Late reform
The data also shows a tendency to postpone the exit from active life. In 2024, the average age of access to retirement was 65.6 years, very close to the defined legal age, which was 66 years and seven months.
This increase is linked both to the penalties applied in the case of early retirement and to the difficulties in accessing this regime, which has led many workers to prolong their professional activity.
Retirements at age 70 reach new record
The number of workers who retired at the age of 70 reached, last year, the highest value in the last five years, signaling a progressive extension of careers in public administration. The Public Finance Council also highlights that voluntary non-early retirements have become the dominant modality in new retirements, reinforcing a trend that has been consolidated in recent years.
In 2025, 21,769 new retirements and pensions were granted, 912 less than in the previous year, which represents a drop of 4%. Even so, the system recorded the highest number of old-age pensions in the last five years. According to the same report, this growth in the total number of retirees results from the increase in old-age pensions, partially offset by the reduction in disability pensions.
More beneficiaries in the system
The average number of retirees increased from 490,084 in 2024 to 497,247 in 2025, which corresponds to 7,163 more beneficiaries in the system. This evolution results mainly from the increase of 9,267 retirements due to age and other reasons, although partially balanced by the reduction of 2,104 retirements due to disability.
All of this data points to a gradual transformation in the public sector pension system, both in terms of average value and age at which retirement can be accessed. The trends identified show an increase in later retirements and an increasing weight of higher value pensions in the overall composition of the Caixa Geral de Aposentações system.
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