The Instituto da Segurança Social (ISS) has announced that it now offers a Pension Supplement Simulator on its website, providing a perspective on the value of the pension supplement upon joining the Capitalization Public Regime – Retirement Certificates (RPC).
What is the Pension Supplement?
The Social Security explains that “this regime, voluntary and individual, allows each person to make additional contributions during active life, thus enabling an extra monthly supplement during retirement.” Practically, “these amounts are applied in a dedicated fund and converted into Retirement Certificates, which can only be withdrawn once the person reaches retirement age or in cases of absolute disability.”
How are contributions calculated?
Contributions are “calculated based on the declared salary and a rate chosen by the participant“, with “available options being 2%, 4%, or 6%.” “The latter applies to individuals aged 50 or over or those registered as cultural professionals. The incidence base is updated annually in January, according to the salaries recorded the previous year,” a statement from Social Security reads.
The ISS outlines how to join the RPC or perform the simulation:
- On the Social Security Portal, under the “Trabalho” menu, access “Reforma e Invalidez”
- Select “Regime Público de Capitalização – Certificados de Reforma”
- Select “Continuar para ações” and then “Aderir aos Certificados de Reforma”
- Fill out the requested elements
Right of Choice
Social Security also highlights that “the amount accumulated in Retirement Certificates can only be redeemed when entitled to an old-age or absolute disability pension.” “In the month following the start of pension entitlement, you can register your option regarding the method of receiving the accumulated capital through the Social Security Portal, easily and quickly,” the public body’s website states.
If you are a Social Security pensioner:
- On the Social Security Portal, under the “Trabalho” menu, access “Reforma e Invalidez”
- Select “Regime Público de Capitalização – Certificados de Reforma”
- Select “Continuar para ações” and then “Consultar adesão aos Certificados de Reforma”
- Click on “Registar direito de opção”. View the options available for using the accumulated capital
- Click on “Avançar para registo” and then “Confirmar registo”
Social Security explains that “this measure is part of the digital transition program of Social Security, within the scope of PRR, reinforcing the commitment to a Public Administration that is more accessible, simple, and effective in its interaction with citizens”.
The payment schedule for December has been published by Social Security. Knowing the dates can help plan your family budget better for the upcoming month.
Beatriz Vasconcelos | 09:18 – 01/12/2025
