Overview
- In 2027 the system settles on two statutory ages, with 65 reserved for careers of at least 38 years and 6 months and 67 for shorter records, and 37 years required to receive 100% of the regulatory base.
- In 2026 the ordinary age is 65 with 38 years and 3 months of contributions, otherwise 66 years and 10 months, under rules that also add a 0.8% Intergenerational Equity Mechanism levy to pay‑ins.
- Self‑employed workers calculate their pension base by taking the highest 324 monthly bases from the last 29 years, summing them and dividing by 378, then applying a percentage tied to total years paid in.
- Early retirement remains possible but comes with permanent cuts, illustrated by a retiree who left the workforce at 61 after 41 years paid in and reports a 28% reduction to his benefit.
- Longer lifespans now stretch retirements beyond two decades and high replacement rates strain finances, with experts noting growing state transfers and warning future pensions may be less generous.