At what age can I retire?
Conditional: the full pension is at 66 years and 9 months (2026); before that there are penalties. The basis is DL 187/2007. The normal pension age in 2026 is 66 years and 9 months (it rises yearly with life expectancy), with a minimum of 15 years of contributions. Retiring earlier (from 60, with 15 years) is possible, but suffers the sustainability factor (−17.63% in 2026) plus a 0.5% reduction per month of anticipation (6%/year). Each year of contributions above 40 cuts 4 months off your personal age. Very long careers (60+ and 46/48 years of career) have no penalty. In short: 66 years and 9 months, or earlier with cuts.
📋 The rules
- Normal age 2026: 66 years and 9 months
- Minimum of 15 years of contributions
- Anticipating (60+): sustainability factor (−17.63%)
- Plus a 0.5%/month reduction (6%/year)
- Contributions above 40 years: −4 months per year
🔓 Exceptions
- Very long careers (60+ and 46/48 years): no penalty
- Arduous professions have their own anticipation rules
- The sustainability factor doesn't apply at the normal age
⚠️ Penalties & fines
There's no "fine" — there are penalties on the early pension. The sustainability factor for pensions starting in 2026 is 0.8237 (−17.63%), and anticipation adds a 0.5% reduction per month (6% per year). Combined, they can cut well over 20% off the pension. You apply at Social Security (Social Security Direct). Beware the Brazil confusion: "you can retire at 65" or "the age is fixed at 66" is false — the age rises every year (66 years 9 months in 2026, 66 years 11 months in 2027) and isn't the same as Brazil's INSS (65/62). To retire: check the year's normal age, see whether you have a very long career (exempt) and weigh the penalties if you anticipate.
📎 Official sources
- Ordinance 358/2024/1 — 2026 retirement age →
- DL 187/2007 — pension regime →
- Social Security — old-age pension →
❓ Frequently asked
At what age can I retire in 2026?
The normal age for the old-age pension in 2026 is 66 years and 9 months, requiring at least 15 years of contributions. This age is recalculated every year based on average life expectancy at 65, so it tends to rise gradually from year to year.
Can I retire earlier?
Yes, as a rule from age 60 and with at least 15 years of contributions, but with penalties. The sustainability factor applies, which in 2026 cuts the pension by 17.63%, plus a 0.5% reduction for each month of anticipation, i.e. 6% per year. The penalties can be significant.
Do long careers have advantages?
Yes. Each year of contributions above 40 reduces your personal retirement age by 4 months. In addition, those aged 60 or over with a very long career, of 48 years, or 46 years if they started contributing by age 17, can retire with no penalty at all.
What is the sustainability factor?
It's a factor that adjusts the pension to changes in average life expectancy, reducing the value of early pensions. For pensions starting in 2026, the sustainability factor is 0.8237, corresponding to a 17.63% reduction. It doesn't apply to pensions taken at the normal retirement age.
Is the retirement age the same as in Brazil?
No. In Portugal, the normal age rises every year, being 66 years and 9 months in 2026 and 66 years and 11 months in 2027. It's not fixed and doesn't match Brazil's INSS minimum age of 65 for men and 62 for women. They are different systems, with their own calculation rules.
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