Retirement age by country refers to when statutory workers in a given country are expected to cease working and start enjoying superannuation and other retirement benefits offered by their country.
It differs from one country to another depending on labor supply, life expectancy, the fiscal cost of aging, the nature of the profession, and worker health, among other factors that policymakers use to determine a country's retirement age.
Here are the top four countries with the highest retirement age globally.
The retirement age for both men and women in Greece is 67 years. However, workers can only claim full pension benefits if they have contributed to the pension plan for at least 15 years (equivalent to 4,500 working days).
A worker can also retire at 62 and get the full pension benefits if they have contributed to the pension plan for at least 40 years (12,000 working days).
In other words, there are certain conditions that retirees must meet to qualify for retirement benefits. The other countries with a retirement age of 67 include Iceland, Israel, and Italy. However, their retirement benefits may differ depending on their governing labor laws.
The current retirement age in Denmark lies between 66 and 68 years. According to Nordic Cooperation, your retirement benefits are based on the number of years you have stayed in the country from the age of 15 to retirement age or until you are awarded a disability pension or a senior pension.
More specifically, you qualify for a full pension if you have worked and stayed in the country for 40-years. The country also offers a fractional pension to persons who don't qualify for a full pension. Like the full pension, it is calculated based on the duration you have stayed in the country from the age of 15 until retirement.
While calculating, the social system of Denmark excludes all the benefits for any period during which the social system of another country covered you.
According to US Social Security Administration, the current retirement age in the US is 67 years, for persons born in 1960 and beyond.
If you were born between 1943 and 1954, your retirement age is 66 years, while the retirement age for 1955 is 66 years and two months. From 1955, the retirement age increases progressively by two months each successive year until 1959.
You would qualify for the retirement benefits if you attained the minimum retirement age. On the same note, claiming your retirement benefits before the retirement date (at 62) automatically reduces the benefit amount.
According to the state pension, the current retirement age in Ireland is 66 years. Upon retirement, you are entitled to the country's contributory pension if you have sufficiently paid the compulsory PRSI contributions while still employed.
If you are not eligible for the contributory State pension and your income does not exceed a certain level, you can benefit from the country's non-contributory state pension.
Retirement Age (Men)
Retirement Age (Women)
|Libya||70||70||2022||The Libya Parliament issued a law to amend the Social Security Law, extending the retirement age for workers in all state sectors to 70 years. Prior to the amendment, Law No. (13) of 1980 set the retirement age at 65 years for men in Libya. The Libya law also specified three cases of retirement at the age of 60, including female workers, men working in businesses or industries harmful to health determined by the regulations, and men working in ordinary work provided that the termination of work is based on their own and their employers approval.|
|Italy||67||67||2022||Must have paid contributions for at least 20 years (At 67 years and 3 months). Those who have paid contributions for at least 41 years can retire at 62. Those who have paid contributions for at least 41 years and 10 months (women) or 42 years and 10 months (men) can retire regardless of age.|
|Israel||67||62||2022||In Israel the retirement age for women is to be increased gradually and reach 65 by 2032.|
|Denmark||67||67||2022||From 2030 onwards, it will be increased a maximum of one year every five years depending on increases in average lifespan.|
|Norway||67||67||2022||The general retirement age is currently set to age 67 however, given sufficient pension contributions it is possible to retire as early as at age 62. The longer an individual postpones withdrawing a pension, the greater the government pension provision becomes.|
|Netherlands||66.58||66.58||2022||Although official retirement age is 68, AOW (Algemene Ouderdomswet, meaning General Old Age Law) state pension will be received starting at the age of 66. AOW eligibility is tied to life expectancy and will gradually increase to 67 in 2021.|
|Australia||66.5||66.5||2022||In Australia the retirement age is being increased gradually to 67 years by July 2023.|
|United States||66.33||66.33||2022||Retirees are eligible to receive reduced Social Security payments at the age of 62. People 65 and over are eligible to receive Medicare benefits if they paid Medicare taxes for at least 10 years. The full retirement age is 67 for everyone born in 1960 or later. If a prospective retiree delays taking out benefits from 67 up to age 70, benefit amount will increase.|
|Spain||66.17||66.17||2022||The age will be 67 by 2027.|
|United Kingdom||66||66||2022||State pension age equalized at 65 in 2018. It increased to 66 on 6 October 2020, and will go up to 67 by 2028 and 68 by 2037.|
|Taiwan||66||66||2023||In Taiwan the retirement age is to be increased gradually and reach 68 years by 2028.|
|Ireland||66||66||2022||In Ireland the retirement age is to be increased gradually and reach 68 years by 2028.|
|Germany||65.83||65.83||2022||In Germany the retirement age is to be increased gradually and reach 67 years by 2029. For a long time the most common mandatory retirement age was 65, although in East Germany it was 60.|
|Brazil||65||61.5||2022||Certain individuals, such as rural workers, teachers and police officers, have a lower minimum age.Brazil also requires workers to have contributed to social security for a minimum amount of time before they become eligible to claim benefits. To start receiving partial benefits, all private-sector workers are required have contributed for at least 20 years (for men) or 15 years (for women). Public-sector workers are required to have contributed for at least 25 years. To receive full benefits all workers must have contributed for at least 40 years (for men) or 35 years (for women).|
|Mexico||65||65||2022||Retirement age is expected to be increased in the coming years.|
|Philippines||65||65||2023||The compulsory retirement age for civil servants in the Philippines is 65 years. They currently have the option to take early retirement at 60.|
|Canada||65||65||2022||The standard age to begin receiving a CPP retirement pension is when one attains age 65 (the month following the 65th birthday). However, one may receive a reduced CPP retirement pension as early as the month following the 60th birthday. Alternatively, one may receive an increased pension after reaching age 65. Canada also has a pension supplement with different rules called Old Age Security (OAS).|
|Romania||65||62||2023||The age for women is being increased gradually. It will reach 63 by 2030.|
|Belgium||65||65||2022||The legal retirement age (the age at which one can retire, regardless of career length) in Belgium is 65 in 2019. in 2025 it will be 66 and in 2030 it will be 67, both for women and men. Early retirement is possible from 60 onwards with a career of at least 44 years, from 61 onwards with at least 43 years, or from 63 onwards with a career of at least 42 years. Some exceptions exist, mainly in the required number of years. A career year is considered if it contains at least 104 days (in full time equivalent).|
|Cuba||65||60||2023||The retirement age threshold was increased by 5 years in 2015|
|Hungary||65||65||2022||The age was 63 in 2018, but was raised to 65 by 2022. Women with 40 years of insurance can retire at any age.|
|United Arab Emirates||65||65||2022||In the United Arab Emirates the mandatory retirement age was raised from 60 to 65 in 2010, enabling the UAE to retain its needed expat skilled work force longer for key construction projects.|
|Austria||65||60||2022||65 for women as of 2033|
|Switzerland||65||64||2022||65 for women by January 2025.|
|Hong Kong||65||65||2022||Retirement age 65. Early retirement possible between the ages of 60 and 64. Some disciplined services staff of the government have lower retirement age.|
|Serbia||65||63.5||2023||Both men and women can retire when they reach their respective retirement age and have at least 15 years of insurance coverage. Or, have 45 years of insurance coverage regardless of age. The retirement age for women is increased by 2 months every year and it will be the same as for men, 65 in 2032.|
|Finland||65||65||2022||Between 63.75 and 68 years old.|
|Croatia||65||63.25||2022||By 2030 there will be an equal age for women and men set at 65.|
|Bosnia and Herzegovina||65||65||2023|
|Trinidad and Tobago||65||65||2022|
|British Virgin Islands||65||65||2017|
|Bulgaria||64.42||61.83||2022||In Bulgaria the retirement age is to be increased gradually until it reaches 65 years by 2029 for men and by 2037 for women.|
|Lithuania||64.33||63.67||2022||In Lithuania, the retirement age will be raised to 65 for both men and women by 2026.|
|Latvia||64.25||64.25||2022||The age will be 65 by 2025.|
|Estonia||64.25||64.25||2022||In Estonia the retirement age is to be increased gradually to 65 years by 2026. After 2026, it will be linked to the average life expectancy|
|Japan||64||62||2022||While the government is at it with early retirement prevention, the age is expected to increase gradually to 65 years of age by 2025.|
|Slovakia||64||64||2022||In Slovakia the retirement age for women depends on the number of children. The retirement age will be equalized for men and women at 62 in 2017. The retirement age as of October 2022 is 63 years with the conditions.|
|Czech Republic||63.83||63.83||2022||In the Czech Republic, in the year 2015, men had the retirement age of 62 years 10 months and women had it between 58 and 62, depending on number of children. In Czech Republic, the retirement age is in the process of being increased, and therefore depends on year of birth (for individuals born after 1977 it may exceed even 67, e.g. a person born in year 1995 must be at least 70 years old.) For women the retirement age depends on the number of raised children as well. For people born in 1975, the retirement age will be the same (66y8m) regardless of sex and number of children raised; and this age will reach 67 for people born in 1977.|
|Morocco||63||63||2023||Abdelilah Benkirane (Former Prime Minister of Morocco) increased the retirement age to 63 since 2015.|
|Kazakhstan||63||60.5||2022||From 2017 the retirement age for women is to be increased gradually and reach 63 years in 2027|
|Singapore||63||63||2022||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. The bill will gradually increase the retirement and re-employment ages for Singapore employees to 65 and 70 years old, respectively. By 2030, the retirement age will have been increased to 65 and the re-employment age will have been raised to 70, in a step-by-step approach.|
|Moldova||63||60||2022||Retirement age for women is increasing every 6 months until it reaches 63 years in 2028|
|Malta||63||63||2022||In Malta the retirement age is being increased gradually to 65 years by 2027.|
|France||62||62||2022||The minimal retirement age has gradually increased from 60 to 62 years by 2018.|
|Russia||61.5||56.5||2022||From 2019 the retirement age for men (women) would gradually increase from 60 (55) to 65 (60) years by 2028; first it was intended to hike the age for women to 63 but later the plan was softened.|
|Vietnam||60.5||55.67||2022||The retirement age will gradually increase to 62 for males by 2028 and 60 for females by 2035. In 2021, the retirement age is 60.25 (age 60 and 3 months) for males and 50.33 (age 50 and 4 months) for women, the age will be increased by 3 months each year following for males and 4 months for women.|
|India||60||60||2022||In the public sector, the retirement age is 60, 62 in Indian Railways, 62 for the chiefs of army/navy/air force staff (or 3 years of service whichever is earlier), 62 for high court judges, 65 for the chief of defence staff (or 3 years of service whichever is earlier), and 65 for supreme Court judges. while in the private sector it depends on the individual company and the maximum being 65.|
|China||60||55||2022||The retirement age in China currently is 60 for men and 55 for female civil servants and 50 for female workers.|
|Turkey||60||58||2022||Retirement age was gradually increased since the 1970s, from 44 for men and 38 for women. Originally, there was no exact retirement age. Current ages will increase to 65 for both genders by 2048. Additionally, various minimum days of service is required, which is currently 7000 days. It will become 7200 days (20 years) by 2048. One is subject to the laws on the day he/she started working.|
|Thailand||60||60||2021||Except a president of a university can work beyond 60 years|
|South Korea||60||60||2022||Employers with more than 300 employees are required to extend the retiring age to 60. From 1 January 2017, it will be mandatory for all employers nationwide.|
|Saudi Arabia||60||60||2022||In Saudi Arabia, the retirement age is based on the Hijiri (lunar) calendar.|
|Malaysia||60||60||2022||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.|
|Cameroon||60||60||2019||The legal retirement age at which one (men or women) can retire is 60 with at least 20 years of coverage and at least 180 months of contributions, including 60 months in the last 10 years. Employment must cease.Early retirement age is 50 with at least 20 years of coverage and at least 180 months of contributions, including 60 months in the last 10 years. The pension is payable abroad only under reciprocal agreement.|
|Uruguay||60||60||2023||60 years and 30 working years minimum (1995), or 65 years and 25 working years and progressive to 70 in age and 15 working years (2009).|
|Namibia||60||60||2022||The early retirement age for public employees is 55 years, but will be reduced to 50 years (in 2016).|
|Indonesia||58||58||2022||In Indonesia, provisions relating to pensions are regulated in Government Regulation Number 45 of 2015 Article 15 concerning the Implementation of the Pension Guarantee Program, in PP 45/2015 the following matters are regulated:For the first time the Retirement Age is set at 56 (fifty six years). Starting January 1, 2019, the retirement age as referred to in paragraph (1) will be 57 (fifty seven) years. The Retirement Age as referred to in paragraph (2) is further increased by 1 (one) year for every subsequent 3 (three) years until it reaches the Retirement Age of 65 (sixty five) years. By referring to the regulation, the retirement age limit in Indonesia is 58 years in 2022 and will reach the maximum retirement age limit, which is 65 years in 2043.|
With a retirement age of 45 years, the country of Turkey has the lowest retirement age in the world. Greece is currently the highest, at 67 years of age.