Joining the Public Capitalisation Scheme / Retirement Certificates Scheme

Joining the Public Capitalisation Scheme (Regime Público de Capitalização – RPC) allows an amount to be deducted from you every month, which is converted and saved as Retirement Certificates (Certificados de Reforma). The value of the Retirement Certificates accumulates over time and can be used when you retire.

Retirement Certificates are a way to invest and save.

Service channels

Learn where you can carry out the service and what are the advantages of each channel

  • Join Online

    Free of charge

    On the "Pensions" tab, then "Retirement Certificates"
  • Via Social Security Line: 300 502 502

    Free of charge

    Working days, from 9am to 5pm
  • Free of charge

    Indicate the contribution rate

    Search for a point of service near you:

Who can join the retirement certificates scheme?

How retirement certificates scheme work?

How to join the retirement certificates scheme?


  • On Social Security Direct
  • Click on ‘Pensões’ [Pensions] and then ‘Certificados de Reforma’ [Retirement Certificates].

Over the phone

  • Social Security helpline – 300 502 502 (on working days from 9.00 to 17.00)

In person

What are retirement certificates based on and what are the risks?

The Retirement Certificates Fund (Fundo dos Certificados de Reforma – FCR) is a collective investment instrument in capital and real estate markets originating from the OECD.

The Fund’s management rules, investment policy and prospectus can be found on the Social Security website.

The Institute for the Management of Social Security Capitalisation Funds is responsible for the administration of the RPC and management of the FCR.

Find out more about the FCR on the Social Security website.

What is the support legislation?