In 2018, the normal age of retirement is 66 years and 4 months.
However, the normal age of retirement in 2019 will increase by one month, that is, only by the age of 66 and 5 months can someone retire, according to article no. 1 of Decree no. 25/2018, published on 18th January, in Diário da República.
Therefore, from next year (2019) onwards, those who want to retire without penalty will have to be 66 years and five months old.
This increase is due to the application of the calculation formula in force and reflects the effects of the evolution of the average life expectancy at age 65 between the year 2000 and the year before the beginning of the pension, calculated by the National Statistical Institute (INE), and the respective sustainability factor.
In accordance to article no. 2 of this Decree, "the sustainability factor applicable to the statutory amount of the old-age pensions of the Social Security scheme awarded in 2018, of the retirees who access the pension before the normal age of access to the pension in force in that year, is 0.8550”.