Decree-Law no. 8/2015 published today in the Portuguese Official Gazette revokes the suspension of the rules which regulated the anticipation of the age of entitlement to oldage pensions under the flexibility scheme.

In this context, on one hand, the suspension of the rules on anticipation of the age of entitlement to old-age pensions it is lifted, and, on the other hand, a transitional regime for the year of 2015 is established, during which beneficiaries aged 60 or more and with, at least, a 40-year contribution career may have access to an early retirement pension.

This Decree-Law also amends the rule on the reduction of the months of anticipation based on the length of the contribution career for the purpose of determining the overall rate of reduction of the pension. The anticipation months are reduced 4 months for each year of the contribution career exceeding 40 years, instead of the current model of reduction of 12 months for each period of three years exceeding a 30-year contribution career.

After the transitional period, the system which was in force at the date of the suspension will be resumed, as amended by Decree-Law no. 8/2015, of January 14.

Decree-Law no. 8/2015 reports its effects to January 1, 2015.