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Impact of the Recent Reform of the Portuguese Public Employees’ Pension System

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JEL Code 
H55 - Social Security and Public Pensions
J26 - Retirement; Retirement Policies
This paper analyses the effects of the recent reform of the Estatuto da Aposentação, applicable to the contributors of the Caixa Geral de Aposentações (CGA). Using the "2005 Public Administration Human Resources Database", a simulation exercise is undertaken in order to evaluate the impact of the reform on the time-profile of retirements, initial pensions and CGA pension-related expenditure. The results show that the reform has heterogeneous effects, but, for most public employees, it results in an extension of the contributory career and a decrease in initial pensions, generating a reduction in the CGA pension-related expenditure.
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