remuneração de referência
Published 8 November 2026, 20:08
remuneração de referência (reference earnings)
The average salary on which a pension is based. Earnings for all the years with contributions are added up, up to a maximum of the best forty, and divided by 14 times the number of those years: the divisor is 14 because pensions and salaries here are paid fourteen times a year. For those who joined the system before 2002, part of the pension is calculated differently, on the best ten of the last fifteen years.
Where you come across it. Calculating an old-age pension: the reference earnings are multiplied by the overall rate, which depends on the length of your contribution record.
The higher your salary was, the smaller the share of it the pension replaces: earnings are divided into bands based on the IAS, and each band has its own rate, from 2.3 to 2 per cent.
Official website: seg-social.pt/ptss/pssd/menu/trabalho/reforma-invalidez/pensao-velhice