Portugal: retirement age decreases to 66 years and 4 months in 2023
Portugal Labor & Employment Alert
Ordinance no. 307/2021, of December 17th, was published in Official Gazette, decreasing the standard age to access retirement pension in the Portuguese general social security system to 66 years and 4 months in 2023.
This decrease was pursuant to Decree-Law no. 187/20076, of May 10, which determined the standard age to access the retirement pension in the Social Security general system considering the average life expectancy at 65 years old, determined between the second and third year prior to the commencement of the pension.
Ordinance no. 307/2021, of December 17th, settled as well the sustainable factor of 0.8594 to be applicable in the calculations of retirements.
These rules enter into force on January 1st, 2022.
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