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Pensions

CFP Flags the Pension Update Formula as Working in Only 10 of the Last 17 Years — €1.355 Billion in Extraordinary 2025 Top-Ups Underline the Drift From the Legal Mechanism

CFP Flags the Pension Update Formula as Working in Only 10 of the Last 17 Years — €1.355 Billion in Extraordinary 2025 Top-Ups Underline the Drift From the Legal Mechanism

The Conselho das Finanças Públicas (CFP) flags that Portugal's pension-update formula has been applied as the law sets out in only 10 of the past 17 years, with €1.355 billion in extraordinary measures layered on in 2025 alone. The drift is now a structural feature of the pension envelope.
The Portugal Brief
INE Posts Portugal's 2023-2025 Esperança de Vida à Nascença at 81.75 Years — Women at 84.21, Men at 78.99 and the At-65 Reading Hits 20.19 as Falling Mortality in the 60+ Bracket Carries the Triennium Step Up

INE Posts Portugal's 2023-2025 Esperança de Vida à Nascença at 81.75 Years — Women at 84.21, Men at 78.99 and the At-65 Reading Hits 20.19 as Falling Mortality in the 60+ Bracket Carries the Triennium Step Up

INE's 28 May 2026 Tábua de Mortalidade prints Portuguese esperança de vida à nascença at 81.75 years for 2023-2025 — women at 84.21, men at 78.99, and the at-65 figure at 20.19 years (women 21.55, men 18.43), with falling mortality in the 60+ bracket driving the triennium step up.
The Portugal Brief
Portaria 225/2026 Pulls the Email and Postal Lanes for Pensioner Proof-of-Life Abroad From 1 May — Canada Joins Switzerland, Luxembourg, Netherlands, Belgium, Cabo Verde and the UK as Segurança Social Direta Becomes the Single Submission Channel

Portaria 225/2026 Pulls the Email and Postal Lanes for Pensioner Proof-of-Life Abroad From 1 May — Canada Joins Switzerland, Luxembourg, Netherlands, Belgium, Cabo Verde and the UK as Segurança Social Direta Becomes the Single Submission Channel

Portaria 225/2026 (DR, 19 May) pulls the email and postal lanes for proof-of-life submissions by emigrant pensioners from 1 May 2026. Canada joins Switzerland, Luxembourg, Netherlands, Belgium, Cabo Verde and the UK; Segurança Social Direta is now the single channel.
The Portugal Brief
IMF Article IV Mission Pushes Lisbon to Reverse the IRS Jovem and the IVA Reduzido on Restaurants — Mission Chief Jean-François Dauphin Flags €693 Million in Lost 2026 Revenue and a 4.2% Inflation Path if the Iran War Drags Into 2027

IMF Article IV Mission Pushes Lisbon to Reverse the IRS Jovem and the IVA Reduzido on Restaurants — Mission Chief Jean-François Dauphin Flags €693 Million in Lost 2026 Revenue and a 4.2% Inflation Path if the Iran War Drags Into 2027

The IMF's 2026 Article IV concluding statement — released Tuesday in Lisbon — recommends Portugal reverse the IRS Jovem and the IVA reduzido on restaurants, replace the fuel-excise cut with targeted support, and link early retirement to the statutory age.
The Portugal Brief