Segurança Social
Image: José Sena Goulão/ Lusa

Number of old age pensions attributed last year increased by over 19%

The number of old-age pensions awarded in 2023 increased by 19.2% compared to the previous year, totalling 102,435, while the average value of new pensions rose by 3.4% to €687.41 euros, according to Social Security. The institute added that the average value of new pensions “has been on an upward trajectory in recent years, as a result of the more consistent contributory careers of new pensioners than in previous decades”. Even so, it has been widely accepted that it is almost impossible for any single person to survive on the ‘average pension’.