The retirement age will rise to 66 years and 11 months in 2027, according to life expectancy data published today by the National Statistics Institute (INE).
“Life expectancy at age 65, for the 2023-2025 period, was estimated at 20.19 years for the total population,” indicates the INE, which corresponds to an increase of 0.17 years (2.0 months) relative to the 2022-2024 triennium.
Based on these data, it is possible to calculate that in 2027 the legal age of access to retirement will be 66 years and 11 months.
This value is two months higher than that of 2026, which had already risen by two months compared to 2025.
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In 2024, the retirement age remained unchanged at 66 years and four months compared to 2023, a year that saw a three-month decline compared to the age set for 2022—something unprecedented since the retirement age became linked to average life expectancy.
Both the 2023 reduction and the maintenance of the age for 2024 are associated with the drop in average life expectancy due to mortality linked to the COVID-19 pandemic and its impact on the older population.
The provisional value of life expectancy at age 65, determined annually by the INE, is released in November, serving as a reference for determining the normal age of access to the old-age pension of the general Social Security regime and the sustainability factor to be applied to the statutory amount of old-age pensions of the general Social Security regime.
In May, the value is confirmed by the INE with the publication of the mortality tables.
