Portugal: retirement age remains at 66 years and 4 months in 2024
Portugal Labor and Employment Law Alert
Ordinance no. 292/2022, of December 9th, was published in the Official Gazette, keeping the standard age to access retirement pension in Portuguese general social security system in 66 years and 4 months in 2024.
This is in line with Decree-Law no. 187/2007, of May 10, which determines that the standard age to access the retirement pension in the Social Security general system shall consider the average life expectancy at 65 years old, between the second and third year before retirement.
Ordinance no. 292/2022, of December 9th also updates the sustainable factor to 0,8617 to be applicable in the calculations of retirement pensions when granted or converted.
These rules enter into force from January 1st, 2023, onwards.
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