Pension funds, namely survivors' pension funds were established in Portugal in the late 18th century, in mutual benefit societies. The first Portuguese life assurance companies were created in the first half of the 19th century but their activity was not very extensive. Only in the 20th century did both institutions become actuarially-based. In this paper, we provide an overview of the development of actuarial calculus in Portugal until the late 19th century, in order to contextualise the scientific progress of those institutions, mainly the former. This paper lays the groundwork for further research on the history of actuarial calculus in Portugal. Sumário Os fundos de pensões, designadamente fundos pensões de sobrevivência, surgiram em Portugal em finais do século XVIII. As primeiras companhias de seguros vida foram criadas na primeira metade do século XIX mas a sua actividade não foi relevante. Apenas no século XX os princípios da ciência actuarial passaram a ser usados em ambas as instituições. Neste artigo daremos um panorama do desenvolvimento do cálculo actuarial em Portugal até finais do século XIX, de modo a contextualizar o progresso científico dessas instituições, principalmente das primeiras. Este artigo estabelece as bases para investigações futuras na história do cálculo actuarial em Portugal.
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