The latest OECD report cited by Sapo news, “Pensions at a Glance 2023”, compares the normal retirement ages for workers who have worked since the age of 22, without any labour interruption. The figures presented correspond to retirement ages without cuts.

The retirement age in Portugal is 66 years and 7 months and the average Portuguese pension is around 500 to 600 euros, which is lower than the European average. According to Eurostat data, the average expenditure on old-age pensions per beneficiary was more than 15,000 euros per year in 2021. In Portugal, this figure was 10,653 euros in nominal terms, which is below the European average.

In 2022, only seven European countries had higher normal retirement ages without cuts than Portugal: Germany (65.8 years), Denmark (67 years), Ireland (66 years), Iceland (67 years), Norway (67 years), the Netherlands (66.6 years) and the United Kingdom (66 years).

According to the report, countries such as Spain (65 years) and France (63.8 years) are examples of retirement ages that were lower than that of Portugal.