Portugal continues to offer one of the most generous pension systems among developed nations, with new projections showing long-term workers can expect to retire on nearly their full pre-retirement income.
The Organisation for Economic Co-operation and Development (OECD) released updated projections this Thursday in its “Pensions at a Glance” report. The findings highlight Portugal as a country where workers have a high probability of maintaining a significant percentage of their income after retirement.
Specifically, the report indicates that a 22-year-old who began working and contributing to social security last year could achieve a net pension equivalent to 92.7% of their final net salary upon retirement.
This strong outlook is based on existing Portuguese legislation, which has remained unchanged for the past two years. It also assumes long and stable contributory careers.
Portugal’s consistent performance means the country maintains a similar standing to what was observed two years ago, underscoring the stability of its pension framework for long-serving employees.