According to the provisional estimate of average life expectancy at age 65 for the 2021-2023 three-year period, released by the National Statistics Institute (INE), this value was estimated at 19.75 years, which corresponds to an increase of 0.14 years (1.68 months) compared to the previous three-year period (19.61 years in 2020-2022).
Based on these data, it is possible to calculate that in 2025 the retirement age will be 66 years and seven months.
This value is three months higher than in 2024, the year in which the retirement age remained unchanged compared to 2023, at 66 years and four months.
In 2023, there was a three-month decline compared to the age set for 2022, something unprecedented since the retirement age became associated with average life expectancy.
Both the reduction in 2023 and the maintenance of the age for 2024 are associated with the decline in average life expectancy due to mortality associated with the Covid-19 pandemic and its incidence among the older population.
The provisional value of life expectancy at age 65, calculated annually by INE, is released in November, serving as a reference for the purposes of determining the normal age for access to the old-age pension, and what has now been known does not yet incorporate the revised estimates of resident population resulting from the definitive results of the 2021 Census.