PPR
Published 8 November 2026, 19:36
PPR — Plano Poupança-Reforma (retirement savings plan)
Long-term retirement savings that earn you an IRS deduction. Under article 1 of Decreto-Lei n.º 158/2002 a PPR can be an investment fund, a pension fund or a separate fund within a life insurance policy, and the letters PPR must appear in the product's name. They are sold by banks and insurers; you can compare terms on the platform of the regulator, ASF.
Where you come across it. Banks and insurers offer them when you open an account and in the run-up to filing your return; the deduction is claimed in your annual IRS return.
You cannot withdraw the money whenever you like without losing the tax break. Article 4 of the same decree lists the cases in which you can: old-age pension, age 60 or over, long-term unemployment, permanent incapacity for work, serious illness, education costs — and for some of these only for contributions made at least five years earlier. Otherwise you can still take the money out at any time, but you will have to repay the tax break under paragraphs 4 and 5 of article 21 of the EBF.
Official website: asf.com.pt/plataforma-ppr