The elderly and the right to social security in Portugal

Abstract

It is possible to find concerns and social achievements in the Portuguese constitutionalism since the liberal age and the “Estado Novo”. However, the Constitution of 1976 is the first Portuguese Constitution that brings the term Social Security.
The Portuguese Social Security System has undergone several evolutions up to now. In terms of social protection in the elderly pensions and survivors’ pensions are usually considered.
For several reasons, especially the demographic one, the financial balance of social security is threatened, so it has been raised in various forums the issue of reducing the amount of pensions already granted, but this may jeopardize the principle of social non- retrogression/ the principle of protection of trust.
Indeed, within the legal framework of economic, social and cultural rights such as the right to social security, we affirm the social non reversibility that determines that once legally enshrined benefits, the legislature can not eliminate them without compensation or alternative.
Moreover, given the financial imbalance, transferring some of the functions of the state in social matters or to the private sector or the so-called “Third Sector” is a new challenge for the state that instead of service provider appears as a regulator. However, in this matter, caution is needed because individuals may be exposed to unacceptable levels of economic risk, staying at the mercy of the risks inherent to capital markets.