The legal retirement age will rise again in Portugal. In 2026, the normal age for accessing retirement by age under the general Social Security regime (reference for retiring without early penalties) became 66 years and 9 months, according to , dated December 30, published in the Official Gazette of the Union. In relation to 2025 (66 years and 7 months, set in Ordinance No. 414/2023, of December 7, rectified by Rectification Declaration No. 8‑B/2024), the increase is for two months.
According to Decree-Law No. 187/2007, the normal age for accessing the pension has varied since 2014 depending on the evolution of average life expectancy at 65 years of age, according to the formula set out in Article 20, No. 3. It is this automatic update that explains the increases over the years.
Sustainability factor and penalties
In addition to age, early retirement may involve cuts. In 2025, the sustainability factor applicable to old-age pensions initiated in that year was 0.8307 (reduction of 16.93%, when applicable), according to Ordinance No. 358/2024/1. For 2026, the sustainability factor to be applied to pensions starting in 2026 is 0.8237 (reduction of 17.63%, when applicable), in accordance with Ordinance No. 476/2025/1, of December 29.
It is important to highlight that Decree-Law No. 187/2007 itself provides for situations in which the sustainability factor does not apply, including when the beneficiary becomes a pensioner at normal age or personal age, as well as in the age flexibility regime and in the anticipation regime for very long contributory careers (article 35, § 5).
Furthermore, in the flexibility regime there is a penalty of 0.5% for each month in advance in relation to personal age or normal age, in accordance with article 36, paragraphs 3 and 4 of Decree-Law no. 187/2007.
Early retirement: who can benefit
The flexibility regime allows you to request the pension before the normal age (or before the personal age), as long as the beneficiary is at least 60 years old and that, while at that age, he or she has 40 or more years of relevant earnings records (article 21, no. 2 of DL 187/2007). In these cases, there may be a reduction of 0.5% for each month in advance (article 36).
According to the law (article 20, § 8 of DL 187/2007), the so-called “personal retirement age” allows four months to be deducted from the normal age for each year of deductions beyond 40, without ever going below 60 years. If the worker retires exactly at his personal age, there are no months of anticipation and, therefore, the 0.5% cut does not apply; and the social security factor also does not apply.
There are also special regimes. Pursuant to article 21-A of DL 187/2007, the very long contributory career regime allows retirement from the age of 60 if the beneficiary has 48 years of deductions (or 46 years, if he started his contributory career at an age of less than 17). In these cases, the social security factor and the 0.5% reduction do not apply.
In the special regime for fishing, registered seafarers who carry out fishing activities can access the old-age pension from the age of 55, as long as they have a total of at least 30 years of service, in accordance with Regulatory Decree No. 40/86 (and amendments).
For mines, Decree-Law no. 195/95 provides for specific age reductions depending on the length of time worked, with its own rules [6]. In these regimes, the calculation rules and possible cuts depend on the applicable special law, and “no penalties” should not be generalized for everyone.
How to request retirement and what changes in 2026
According to the Social Security portal and gov.pt, the pension application must preferably be made online (Direct Social Security).
It is necessary to comply with the 15-year discount guarantee period (article 19 of DL 187/2007). Under the Voluntary Social Security scheme, the guarantee period is 144 months, according to information from Social Security.
The rules apply to pensions starting in 2026. Even if the request is submitted before, with deferred effects, the applicable regime is the one in force on the pension starting date (article 93 of DL 187/2007).
ECO, a newspaper specializing in economics and finance, recalls that until 2013 the age was 65; in 2014 it increased to 66 years, and has since been linked to life expectancy.
In 2023, the retirement age fell to 66 years and 4 months due to the impact of the pandemic, rose again to 66 years and 7 months in 2025 and will remain at 66 years and 9 months in 2026, as now official.
Retiring at 60 remains an exception: it is possible in very long careers (in the terms above) or at personal age when it is equal to or greater than 60 years; For most people, in 2026, the reference for retirement will be 66 years and 9 months.
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