Retirement age

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This article lists the statutory retirement age in different countries. In some contexts, the retirement age is the age at which a person is expected or required to cease work and is usually the age at which they may be entitled to receive superannuation or other government benefits. Retirement Age varies from a minimum of 45 years in Turkey to 70 years in Australia. Policy makers usually consider the demography, fiscal cost of ageing, health, life expectancy, nature of profession, supply of labour force etc while deciding the retirement age.[1]


Retirement age by country[edit]

Retirement age
Country Men Women Year Notes References
Albania 65 60 2012 [2]
Armenia 63 63 2011 [2]
Australia 65 65 2014 [3]
Austria 65 60 2011 [note 1] [2][4]
Azerbaijan 62 59.5 2012 [note 2] [2]
Belarus 60 55 2007 [5]
Belgium 65 65 2009 [5]
Bosnia and Herzegovina 65 65 2011 [2]
Bulgaria 63 60 2011 [2][5]
Chile 65 60 [6]
China 60 50–55 2011 [note 3] [7]
Croatia 65 60 2011 [2]
Cyprus 65 65 2011 [2][4]
Czech Republic 63 59–63 2013 [note 4] [4][5]
Colombia 62 57 2014 [8]
Denmark 65–67 65–67 2008 [4][5]
Estonia 63 62 2014 [note 5] [4][5]
Finland 62–68 62–68 2008 [4]
France 62 62 2011 [note 6] [2][4]
Georgia 65 60 2011 [2]
Germany 65 65 2008 [note 7] [4][5]
Greece 67 60–67 2012 [note 8]
Hungary 62 62 2011 [2][4]
Iceland 67 67 2007 [5]
India 60 60 2014 [note 9]
Indonesia 58 58 2014 [13]
Ireland 65–66 65–66 2008 [note 10] [2][4][5]
Israel 67 62 2011 [14]
Italy 66 64 2014 [15]
Japan 60–65 60–65
Kazakhstan 63 58 2011 [2]
Kosovo* 65 65 2011 [2]
Korea, Republic of 56–58 56–58 n/a [note 11] [16]
Kyrgyzstan 63 58 2011 [2]
Latvia 62 62 2011 [2]
Liechtenstein 64 64 2007 [5]
Lithuania 63 61 2014 [note 12] [17][18]
Luxembourg 65 65 2011 [2]
Macedonia 64 62 2011 [2]
Malaysia 60 60 2013 [note 13] [19]
Malta 61 60 2008 [note 14] [4][5]
Moldova 65 60 2011 [2]
Montenegro 65 60 2013 [2]
Nepal 58 58 2007
Netherlands 65–67 65–67 2009 [note 15] [2][4]
New Zealand 65 65 2013 [20]
Norway 67 67 2011 [note 16]
Pakistan 60 60 2007 [21]
Poland 65–67 60–67 2013 [2][4][22]
Portugal 66 66 2014 [23]
Romania 64 59 2013 [note 17] [2][4][24]
Russia 60 55 2015 [25]
Saudi Arabia 62 62 2014 [note 18] [26]
Serbia 65 60 2011 [2]
Singapore 62–65 62–65 2012 [note 19] [27]
Slovakia 62 62 2012 [note 20] [4]
Slovenia 63 61 2008 [4]
Spain 65 65 2011 [note 21] [2][4]
Sweden 61–67 61–67 2011 [4][5]
Switzerland 65 64 2007 [5]
Tajikistan 63 58 2011 [2]
Turkmenistan 62 57 2011 [2]
Turkey 60 58 2014 [note 22]
Ukraine 60 55–60 2011 [note 23] [2]
United Kingdom 65 60 2011 [note 24] [2][4]
United States 62–67 62–67 2013 [note 25]
Uzbekistan 60 55 2011 [2]
Vietnam 60 55 2011 [note 26] [31]

*Note: disputed territory.

The average of retirement age in the 34 countries of the Organisation for Economic Co-operation and Development (OECD) is males 65 years and females 63.5 years, but the tendency all over the world is to increase the retirement age.[32] This is also reflected by the findings that just over half the Asian investors surveyed region-wide said they agreed with raising the retirement age, with a quarter disagreeing and the remainder undecided.[33]

Notes[edit]

  1. ^ In Austria the retirement age for women is to be equaled to the retirement age for men in 2033.
  2. ^ In Azerbaijan the retirement age for women is to be increased gradually and reach 60 years in 2016.
  3. ^ The retirement age in China currently is 60 for men and 55 for female civil servants and 50 for female workers.
  4. ^ In the Czech Republic the retirement age for women depends on the number of children.
  5. ^ In Estonia the retirement age for women is to be increased gradually and equaled to the retirement age for men in 2016. Later the retirement age for both sexes is to be increased gradually and reach 65 years in 2026.[9]
  6. ^ In France the retirement age is to be increased gradually to 68 years. See also: Pensions in France.
  7. ^ In Germany the retirement age is to be increased gradually and reach 67 years in 2029. See also: Pensions in Germany.
  8. ^ Retirement age for civil servants hired after 1993 (in Greek). Some exceptions apply for special categories, ie mothers with 3 or more children under 18 etc. These age requirements however are expected to change from 2013 and on and are expected to increase by at least one year.[10][11]
  9. ^ In 2014, the retirement age in India for government staff was rolled back from 60 to 58.[12]
  10. ^ In Ireland the retirement age is to be increased gradually and reach 68 years in 2028.
  11. ^ In South Korea, no legal age limit is set for South Koreans to retire but all government offices and most private-sector businesses retire their workers at between 56 and 58.
  12. ^ In Lithuania, the retirement age for women is 60 and 62.5 years for men in 2011, and will be increased by 4 months per year for women and 2 months per year for men from 2012, until it reaches 65 years in 2026.
  13. ^ In Malaysia, The Congress of Unions of Employees in the Public and Civil Services (Cuepacs) wants the government to consider extending the retirement age for civil servants from 60 to 62, but the government has no immediate plan to extend it as the current retirement age is deemed as sufficient.
  14. ^ In Malta the retirement age is to be increased gradually to 65 years.
  15. ^ In the Netherlands the retirement age is to be increased gradually and reach 67 years in 2025.
  16. ^ See: Pensions in Norway.
  17. ^ In Romania the retirement age is to be increased gradually and reach 65 years for men and 60 years for women in 2014. Then starting in 2015 the retirement age for women is to be increased gradually until equal to the retirement age for men in 2030.
  18. ^ In Saudi Arabia, the retirement age is based on the Hijiri (lunar) calendar.
  19. ^ In Singapore, the Retirement Age Act (RAA) has been replaced by the Retirement and Re-employment Act (RRA) in 2012. Under the RRA, the statutory minimum retirement age is still 62, but employers are now required to offer re-employment to eligible employees who turn 62, up to the age of 65.
  20. ^ In Slovakia the retirement age for women depends on the number of children. The retirement age for women is to be increased gradually and reach 62 years (regardless of the number of children) in 2014.
  21. ^ See also: Pensions in Spain.
  22. ^ In 1999 the retirement age was changed from 48 for men and 38 for women.[28]
  23. ^ In Ukraine the retirement age is to be increased gradually to 60 years for women and 62 years for men-civil servants by 2021.[29]
  24. ^ In the UK the retirement age for women is to be increased gradually and equaled to the retirement age for men in 2018. Later, the retirement age for both sexes is to be increased gradually and reach 68 by 2046 or sooner.[30]
  25. ^ The earliest age workers may statutorily receive Social Security benefits and Medicare. Retirement Age in the US
  26. ^ Vietnam may gradually raise its retirement age to 62 for men and 60 for women to avert a possible bankruptcy of its pension system in the next two decades.

References[edit]

  1. ^ "Setting an Ideal Retirement Age!". Centre for Public Policy Research (CPPR). 
  2. ^ a b c d e f g h i j k l m n o p q r s t u v w x y z aa ab ac ad Інформація про поточний пенсійний вік у різних країнах, Консультаційна компанія "Стратегія Лайф" [1].
  3. ^ "Age Pension". humanservices.gov.au. 
  4. ^ a b c d e f g h i j k l m n o p q r s 2009 Ageing Report: Economic and budgetary projections for the EU-27 Member States (2008–2060). Joint Report prepared by the European Commission (DG ECFIN) and the Economic Policy Committee (AWG), [2], p. 78.
  5. ^ a b c d e f g h i j k l m Kłos B., Wiek emerytalny kobiet i mężczyzn, “infos”, 7.02.2008
  6. ^ "¿El trabajador que ha cumplido la edad de 65 años si es hombre o 60 años si es mujer, está obligado a seguir cotizando en la AFP a la cual se encuentra afiliado?". dt.gob.cl. 
  7. ^ "Retirement age will be pushed back". china.org.cn. 
  8. ^ "Pensiones - Colpensiones". mintrabajo.gov.co. 
  9. ^ "Pensionikeskus". pensionikeskus.ee. 
  10. ^ [3]
  11. ^ "Greece MPs approve new austerity budget amid protests". BBC News. 
  12. ^ Siwach, Sukhbir (26 November 2014). "BJP rolls back Hooda government's decision on retirement age". The Times of India (New Delhi: Bennett, Coleman & Co. Ltd.). Retrieved 10 March 2015. 
  13. ^ Winanti R, Anastasia (9 January 2014). "Indonesia Extends Retirement Age". The Jakarta Globe (Jakarta: BeritaSatu Media Holdings). Retrieved 10 March 2015. 
  14. ^ https://www.knesset.gov.il/spokesman/heb/Result.asp?HodID=9453.pdf
  15. ^ "Previdenza obbligatoria". lavoro.gov.it. 
  16. ^ "Parliament tentatively agrees to extend retirement age to 60". Yonhap News Agency (Seoul: Yonhap News Agency). 22 April 2014. Retrieved 10 March 2015. 
  17. ^ Bitinas, Audrius; Maccioni, Alessandro Fiori. "Lithuanian Pension System’S Reforms Transformations and Forecasts" (PDF). Universal Journal of Industrial and Business Management (Horizon Research Publishing) 2(1): 13–23. doi:10.13189/ujibm.2014.020103. Retrieved 11 March 2015. 
  18. ^ Seputyte, Milda (9 June 2011). "Lithuania Raises Retirement Age to 65 to Help Narrow Budget Gap". Bloomberg (Vilnius: Bloomberg L.P.). Retrieved 11 March 2015. 
  19. ^ Cheng, Dorothy (30 June 2013). "Bosses, workers welcome retirement at 60". theSundaily (Kuala Lumpur: Sun Media Corporation Sdn. Bhd.). Retrieved 10 March 2015. 
  20. ^ webcoordinator@msd.govt.nz. "65 years or older". workandincome.govt.nz. 
  21. ^ "Page Not Found". thepeninsulaqatar.com. 
  22. ^ Kancelaria Sejmu RP. "Internetowy System Aktów Prawnych". sejm.gov.pl. 
  23. ^ Raquel Martins. "Idade da reforma passa para os 66 anos em 2014". PÚBLICO. 
  24. ^ "Varste de pensionare - pensiineamt.ro". pensiineamt.ro. 
  25. ^ "Communists oppose government initiative to raise pension age". RT. 22 April 2015. Retrieved 23 April 2015. 
  26. ^ Abdul Ghafour, P.K. (6 May 2014). "62 to be the age of retirement". Arab News (Jeddah: Saudi Research & Publishing Company). Retrieved 10 March 2015. 
  27. ^ Ministry of Manpower (25 February 2015). "Retirement and Re-employment Act". Singapore: Government of Singapore. Retrieved 10 March 2015. 
  28. ^ "Emeklilik Yaşını Bekleyenler". sgk.gen.tr. 
  29. ^ "Рада приняла пенсионную реформу, повышающую пенсионный возраст". РИА Новости. 
  30. ^ [4] See also: Pensions in the United Kingdom.
  31. ^ "Vietnam may lift retirement age to save pension fund". Thanh Nien News (Ho Chi Minh City: Vietnam’s Youth Association). 13 May 2014. Retrieved 10 March 2015. 
  32. ^ Scott, John (25 June 2014). "Aging Australians Balk at World’s Oldest Retirement Age". Jakarta: BeritaSatu Media Holdings. Retrieved 10 March 2015. 
  33. ^ "Asians Want To See Official Retirement Ages Rise – Manulife Survey". Hong Kong: The Manufacturers Life Insurance Company. 22 May 2014. Retrieved 10 March 2015. 

External links[edit]

See also[edit]