Old-age pension — FAQ

At what age can I retire?

It depends on the year you reach the normal pension age — someone retiring in 2026 needs 66 years and 9 months. See the full table on the retirement age page.

How many years of contributions do I need?

15 years for the ordinary pension (art. 19.º). For early retirement by flexibilização, the same 40 years; for very long careers, 48 years.

How is the pension amount calculated?

The reference remuneration is sliced into bands, each expressed as a multiple of the IAS and taxed at its own annual rate, multiplied by years of registered remuneration. Full detail on the how the pension is calculated page.

Is there a maximum pension?

DL 187/2007 sets no maximum money amount for a regime geral old-age pension. Two adjacent but different rules exist and should not be read as a ceiling: art. 34.º n.º 3 caps the accrual RATE (not the money amount) at 80%, and art. 37.º n.º 6 caps only the bonificada variant at 92% of the best reference remuneration. Portaria n.º 480-B/2025/1 art. 2.º n.º 2 freezes the ANNUAL UPRATING above 12×IAS, not the underlying pension itself — a different mechanism (indexation, not a ceiling on the awarded amount).

Can I retire early?

Yes, under two distinct routes: flexibilização, with a reduction of 0,5 % for every 30 days claimed early, and very long careers, with no reduction located in the law reviewed. Full detail on the early retirement page.