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Higher retirement pensions
This measure is implemented by the application of a bonus rate to the amount of the retirement pension for each month of additional effective work and differentiated based on the contribution years.
Higher retirement pensions

Retirement pensions are accordingly increased in the following situations:

Request for a retirement pension after age 65

If the insured person is aged over 65 and has completed at least 15 calendar contribution years recorded in the general scheme when he requests his retirement pension, it will be increased by application of the monthly rate to the number of effective months of work performed between the month when the individual reaches age 65 and the month of the commencement of the retirement pension up to the limit of age 70.

The monthly rate of the increase varies based on the number of contribution years recorded on the date of the retirement pension request:

 

Age

Contribution Years

Monthly increased rate (%)

Over Age 65

From 15 to 24

0.33

From 25 to 34

0.5

From 35 to 39

0.65

Over 40

1

Request for a retirement pension before age 65

If the insured person fulfils the conditions to request an early retirement pension without application of a reducing factor, and if he does not make such a request, the retirement pension is increased by the application of a monthly rate of 0.65 per cent to the number of contribution years recorded based on the effective work performed between the month when these conditions are fulfilled and the month when the individual reaches age 65, or the commencement date of the pension if it occurs prior to this age.

In the two cases, the amount of the higher retirement pension cannot exceed 92 per cent of the highest reference salary taken into account for the calculation of the retirement pension.


Full text:
2-Portugal.pdf 95,02 kB

Publication year: 2009
Implementation year: 2007
Темы: Employment policies, Old age/survivors
Organization: General Directorate for Social Security
Страна: Portugal

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