The retirement pension is an economic benefit consisting of a lifelong, single and imprescriptible pension granted to a worker when that worker stops working due to age.

The management and granting of entitlement to a retirement pension corresponds to the National Social Security Institute (INSS), except for workers included in the scope of application of the special scheme for seafarers, when it corresponds to the Social Marine Institute (ISM).

However, from the moment a request for retirement is filed until the beneficiary can access  the pension for  the amount granted in their bank account, various phases can be distinguished, expressed in natural days: 

• FIRST PHASE. Recognition of the benefit by the INSS Provincial Directorates.
• SECOND PHASE. Auditing of the salary and informing the Social Security General Treasury (TGSS).
• THIRD PHASE. Procedures within the TGSS for the order of the payment.
• FOURTH PHASE. Bank transfer.

The sum of natural days in the fourth phase shall be the TOTAL AVERAGE TIME OF THE RETIREMENT PENSION PROCEDURE UNTIL THE MOMENT OF PAYMENT.