Secretaria-Geral do Ministério do Trabalho, Solidariedade e Segurança Social

The Commission for the Sustainability of Social Security was established by the Order No 9126/2022 of 26 July 2022 The aim is to draw up a Green Paper on the sustainability of the social security system, specifically with regard to pensions.

The Commission included members Ana Fernandes, Amílcar Moreira, Armindo Silva, Manuel Caldeira Cabral, Susana Peralta, Vítor Junqueira, Rui Nicola and Noémia Goulart and benefited from ILO technical support for the coordination of the work, represented by social protection expert Mariana Pereira, with the support of the MTSSS EPG.

The objective of the work was to progress in the knowledge of the changes promoted since the publication of the Basic Law on Social Security in force (Law No 4/2007 of 16 January 2007), as well as in the definition of strategies to be adopted in order to adapt the system and improve its performance in the financial and social dimensions, in view of current and future challenges.

The XXIV Constitutional Government decided to have a broad discussion of the content of the Green Paper, starting with the involvement of the Social Partners:

• The Green Paper for the Sustainability of the Social Security System was made available to Social Partners on 30 July 2024 at the CPCS Plenary Meeting, and presented by the Commission on 16 October to the Working Group on Social Security Sustainability under the Tripartite Agreement on Wage Valuation and Economic Growth 2025-2028.
• The Green Paper in digital format was made publicly available, for contributions from society, researchers, academia, organisations and anyone wishing to join, until 15 December 2024 to the email address LVSSP@gep.mtsss.pt.
• In addition, the Minister for Labour, Solidarity and Social Security invited a number of bodies to issue opinions on the document (as part of the revised version as Annex D | Opinions).

Consult theGreen Paper on the Sustainability of the Social Security System(Revised edition January 2025).

The following contributions were received by 19 December 2024 (as part of the revised version as Annex D | Opinions):

• President of the Institute for Financial Management of Social Security
• President of the Institute for the Management of Social Security Capitalisation Funds
• President of the Portuguese Association of Investment Funds, Pensions and Heritage
• President of the Portuguese Association of Banks
• Chair of the Insurance and Pension Funds Supervisory Authority
• President of the Superior Council of Public Finances
• Director-General of the Court of Auditors
• APS - Portuguese Association of Insurers
• CGTP
• CAP - Confederation of Farmers of Portugal

On 28 January 2025, the Commission for the Sustainability of Social Security made available to the Government the following Technical Notes (Table 1.1from the Green Paper):

• Technical Note 2:Fernandes, A. (2024) Demographic Ageing and Social Security Sustainability,
• Technical Note 3: Fernandes, A. (2024) Demographic Dynamics and Sustainability of Social Security,
• Technical Note 4: Goulart, N. (2024a) Contribution Rates,
• Technical Note 5: Goulart, N. (2024b) Transparency, Simplification and System Coherence,
• Technical Note 6:Goulart, N. (2024c) Base of Contributory Impact and Impact on the Financial and Social Sustainability of Social Security,
• Technical Note 7: Goulart, N., Peralta, S. (2024) Labour Market Developments in Portugal and Implications for the Pension System,
• Technical Note 8: Junqueira, V. (2024a) Pension Update,
• Technical Note 9: Junqueira, V. (2024b) The Pension Calculation Formula of the RGSS - The Influence of Parameters on Expenditure and Adequacy,
• Technical Note 13: Peralta, S. (2024) Nudges and Tax Benefits in Encouraging Complementary Savings for Retirement,
• Technical Note 14: Pereira, M., Wheat, C. (2024) Global Labour Market Trends and Implications for Social Security and Pension Systems,
• Technical Note 15: Rodrigues, R. (2024) Old Age Dependency Risk Finance Models,
• Technical Note 16: Silva, A. (2024a) Diversification of Social Security Funding Sources,
• Technical Note 17: Silva, A. (2024b) Contributory Limits - Impact Simulation Study,
• Technical Note 18: Silva, A. (2024c) Occupational Pension Plans - Current Framework and Contributions to Your Reform,
• Technical Note 19: Silva, A. (2024d) Tax Support Scheme for Savings for Reform,
• Technical Note 20:Silva, A. (2024e) An NPV-based Social Security Financing Alternative - Impact Simulation Study.

Source: GEP