Lisbon, Nov. 27, 2025 (Lusa) - The retirement age in Portugal will rise to 68 years old, making it the eighth highest among the 38 member countries of the Organisation for Economic Co-operation and Development (OECD), according to a report released on Thursday.
These eight countries with the highest normal retirement age in the future - Denmark, Estonia, the Netherlands, Sweden, Italy, Slovakia, the United Kingdom and Portugal - are those that make the retirement age dependent on life expectancy, according to the OECD's "Pensions at a glance 2025" study.
In the previous edition of this study, published in 2023, the average normal retirement age in Portugal was already rising from the current 65.6 to 68 years old, recording one of the largest increases among the various OECD countries.
The report released today reveals that the average normal retirement age in 2024, across OECD countries, was 64.7 years old for men and 63.9 years old for women, and is expected to increase by almost two years, to 66.4 years old for men and 65.9 years old for women who entered the labour market in 2024, in at least half of OECD countries.
Currently, the average normal age ranges from 62 years old in Colombia, Greece, Luxembourg and Slovenia - Turkey is an atypical case, with a normal retirement age of 52 years old - to 67 years in Australia, Denmark, Iceland, Israel, the Netherlands and Norway.
In the future, differences between countries are expected to become more pronounced, with the normal retirement age remaining at 62 in Colombia, Luxembourg and Slovenia, reaching 70 in Italy, the Netherlands and Sweden, 71 in Estonia and up to 74 in Denmark, based on the relationship between retirement age and life expectancy.
The retirement age is expected to increase further, albeit at a slower pace after 2030, when it is expected to rise by one month per year until it reaches 67 in 2056.
These estimates took into account the various schemes for accessing retirement pensions, without penalties, for individuals with a full contributory career since the age of 22 years old.
The same study also indicates that, on average, a worker with an average salary will receive a net pension corresponding to 63% of their net salary after a full career.
In Austria, Greece, Luxembourg, Portugal and Spain, this figure is over 85%, and in the Netherlands and Turkey it exceeds 95%.
At the opposite end of the scale are Estonia, Ireland, Korea and Lithuania, with future net replacement rates of less than 40% of net salary.
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