In 2023, Portugal ranked sixth among European Union countries with the highest share of employed individuals aged 55 to 64, following Germany, Italy, Bulgaria, Latvia, and Lithuania. It was also one of the countries that saw the most significant increase in this age group’s workforce participation between 2010 and 2023, placing fourth in growth across the EU.
A report by Eurofound—an EU agency focusing on working conditions—highlighted by Jornal de Negócios, emphasizes that while many countries have raised the legal retirement age, simply changing legislation isn’t enough to ensure older workers remain active in the labor market.
Across the EU, the percentage of workers aged 55 to 64 rose from 13.1% in 2010 to 19.8% in 2023. In Portugal, this age group now represents 20.5% of the workforce, above the EU average and one of the highest among the 27 Member States.
This trend in Portugal reflects both the country’s aging demographic and its relatively high retirement thresholds. The report notes that Portugal has the fifth highest legal retirement age in the EU, as well as the highest effective retirement age for men (66.6 years) and the third highest for women (65.6 years).
