Practice Areas: Employment

Change in Retirement Age in 2023

According to Ministerial Order no. 307/2021, published on 17 December, effective as of 1 January 2022, the normal state pension age is reduced in 2023 to 66 years and 4 months, 3 months less than in 2022.

It should be recalled that the normal pension age varies according to the average life expectancy at age 65, an indicator that has been updated by the National Statistical Institute (INE) last November to 19.35 years.

Thus, considering the indicator of average life expectancy at age 65 in 2000 and 2021, the sustainability factor applicable to state pensions starting in 2022 is 0,8594.

The 66 years and 4 months is the lowest normal pension age since 2018.