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how to ask for and get your retirement faster

Pension at the time simplifies and speeds up the process of requesting retirement. See the steps to follow to find out how much and when you will receive.

THE pension on the spot is a service available from Social Security Direct that allows you to apply for an old-age pension, find out how much you will receive and get a response in less than 24 hours.

The delay in analyzing pension claims was, until now, one of the problems most commonly pointed out to Social Security. It should be remembered that, until recently, the entity calculated that, in the simplest cases, the response to requests took, on average, 50 days.

The Instant Pension, available since February 26, 2021, allows, according to the Government, “to reduce the number of pensions subject to manual analysis by Social Security“. That is, the months of waiting to ask for the reform may be over.

Find out how this service works.

What is Pension on Time?

Pensão na Hora allows you to apply for an old-age pension through Direct Social Security, but without having to wait weeks or months for an answer.

THE value is automatically calculated by the system based on information about the contributory career. That is, how much and for how long it was discounted.

In addition, the allocation becomes automatic and faster: if the applicant agrees with the amount, the application moves forward and the reform is granted.

In practice, everything takes place in just a few steps: when applying for the old-age pension, you immediately see the years of discounts and find out the estimated gross amount of your future retirement.

From here you can start the application and a provisional pension is granted within a maximum period of 24 hours. And in a short time you will know how much you will receive and from when.

Who can apply for Pension on time?

To access this service, certain conditions must be met.

One of them is have reached the personal retirement age. That is, the age that allows workers with long contributory careers to retire without penalty. It should be remembered that in 2023, the legal retirement age was raised to 66 years and four months.

Another condition is that the applicant has the required number of years of deductions for pension access. These discounts must have been made only in Social Security, as the Pension on the spot does not cover, for the time being, other national or foreign contributory schemes.

It is equally necessary be covered by the normal pension schemenot having special careers.

reside in Portugal and, if you are self-employed, not have Social Security debtsare the other necessary conditions.

See too
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How to apply for Pension on time?

To access this service it is necessary be registered with the Direct Social Security and have the corresponding password.

After logging in, you must select the menu “Pensions” and then “Old Age Pension”. You will see information regarding the years in which you cashed in, as well as the gross retirement amount. Please note that, like wages, pensions above a certain amount are also subject to IRS withholding tax.

You can then proceed immediately to applying for a pension by answering a few short questions.

Afterwards, just wait for the decision, which will arrive through a message sent to the Direct Social Security message box. You will then find out the amount of the pension, as well as the date on which payment begins to be made.

Social Security guarantees that in cases where all access conditions are met, “the The process will be automatically granted within a maximum period of 24 hours“.

This means that, within that period, you will be awarded a provisional pension. If accepted, this amount is paid on the date mentioned. If there is any inaccuracy in the calculation, the value of the renovation can be revised later.

How to make the process even simpler

For the whole process to be even faster, Social Security also recommends that you include the IBAN in your data. Thus, you can receive the pension via bank transfer.

It is equally important that you have your details, including your phone number and email address, up to date.

What if you don’t meet the conditions?

If you do not meet all the conditions for the Pension to be granted on the spot, the process is sent to Social Security for analysis.

However, it will be possible to follow the evolution of the status of your order online.

unified pension

See too
Unified pension: what it is and how to apply

Article originally published in March 2021. Last updated in January 2023.

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