1. NORWAY
At 67.75 years old, Norway has the highest average age for retirement, with people retiring at 62–75 years old if they’re receiving an earnings-related pension and 67 years old for the national pension.
And while 67 has been the official retirement age since the 1970s, the report adds that in 2011, Norway established “flexible retirement” for earnings-related pensions—Norwegians can draw pensions as early as age 62.
And people do move away when they retire; the most popular destinations are Sweden, followed by the U.S., Denmark and Spain. (Photo: Shutterstock)
5 PLACES WITH THE LOWEST RETIREMENT AGE
An Aperion Care study researched the official retirement ages for people around the world.
We chose the 5 lowest and 5 highest retirement ages of countries for which more information is available. Read on to see what they are. (Photo: Shutterstock)
5. JAPAN
- In Japan, the retirement age was raised in 1998 from 55 to 60, and has been rising ever since.
- Currently it stands at 62.7, but by 2025, it’s expected to be 65 for both men and women.
- And at present it has the oldest population in the world.
- While Japanese generally stay in the country upon retirement, to remain close to their families, there is evidence that more Japanese are moving to Southeast Asia, Malaysia in particular, in retirement. (Photo: Shutterstock)
4. INDIA
- At present the official retirement age in India is 60, and in the private sector it recently rose from 58 to 60.
- And although it has increased, the report says, many older Indians have continued to work past official retirement due to rampant poverty and familial obligations.
- Thus the actual retirement age has changed very little.
- Most retired Indians stay in the country, but those who do not often send money home to provide for their families. (Photo: Shutterstock)
3. RUSSIA
- In Russia (and Senegal, Mozambique and Madagascar, too) retirement age is 57.5.
- Although the African continent has several countries with lower retirement ages, it could be tough to stick it out longer; the report points out that “considering so much of the workforce is involved in agriculture and labor, over time, a person’s ability to work is affected by the physical toll it takes on their body, and earlier retirement might be necessary.”
- Russia, on the other hand, didn’t change retirement ages when it overhauled its retirement system in 2002 from pay-as-you-go to an earnings-defined contribution system, but the report says, “Putin recently signed a law raising the retirement age for state officials—65 for men and 63 for women. No other plans/increases are being considered.”
- It adds that many people who leave intentionally avoid notifying the government of that little fact, with younger Russians heading to China and the West. (Photo: AP)
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2. CHINA
- China has the second lowest age for retirement, at an average age of 56.25.
- The report says that since 15 percent of the total population is already at retirement age or even older, there are rumors of changing the age to help combat the effects of an unbalanced labor population.
- In addition, the Chinese government plans to gradually increase the official retirement age (a few months every year) to offset the effects of an aging population.
- Some Chinese are investing in retirement properties outside the country, both for themselves and for their parents, with the U.S., U.K., Canada and Australia popular destinations. (Photo: Shutterstock)
1. UNITED ARAB EMIRATES
- Natives of the UAE have an official retirement age of 49, although expats — non-UAE nationals — have to stick it out till age 60.
- And those non-UAE nationals are discouraged from staying in the country, once they do retire, by “certain policies” that forbid it. (Photo:Shutterstock)
5 PLACES WITH THE HIGHEST RETIREMENT AGE
If you’re looking forward to retirement, you’re not alone.
But according to Aperion Care's study, most Americans won't be retiring as early as folks in other countries. Here are the 5 countries with the highest retirement age.
5. AUSTRALIA
- Australia’s at 65 (and so is Belgium).
- But Australia has raised the retirement age to 67 for those born after 1957, and those still in the workforce plan to retire later rather than sooner, with 65 the average age at which they expect to retire.
- And if they leave home when they retire, their top three destinations are Italy, Greece and New Zealand. (Photo: AP)
4. NETHERLANDS
- At 65.75 years old, the retirement age in the Netherlands is approaching the higher end in Europe.
- But in that range between 65 and 66 also fall Finland, at 65.25, France, at 65.3, and Germany and Spain, both at 65.4. (Photo: Shutterstock)
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3. UNITED STATES
- Not just the U.S., but also Italy, Denmark and Ireland come in at 66 for an official retirement age—although Portugal comes close, at 66.25.
- And the average retirement age in the U.S. is actually 63 (some of those folks who thought they’d be working longer and then didn’t, no doubt).
- And while the retirement age in the U.S. has risen since the 1990s, the report points out that the 65+ population “tends to switch to part-time work.”
- When folks leave the U.S. to retire elsewhere, favored destinations are Canada, Japan, Mexico, Germany and the U.K. (Photo: Fotolia)
2. ICELAND
- The retirement age in Iceland is 67, but the average male Icelander actually retires at the age of 68.5.
- Strong disincentives for early retirement and, in return, incentives for retiring later encourage a longer working life.
- Thus this country is an unlikely target for an expat U.S. resident looking for a retirement haven. He might have to go back to work! (Photo: Shutterstock)
1. NORWAY
At 67.75 years old, Norway has the highest average age for retirement, with people retiring at 62–75 years old if they’re receiving an earnings-related pension and 67 years old for the national pension.
And while 67 has been the official retirement age since the 1970s, the report adds that in 2011, Norway established “flexible retirement” for earnings-related pensions—Norwegians can draw pensions as early as age 62.
And people do move away when they retire; the most popular destinations are Sweden, followed by the U.S., Denmark and Spain. (Photo: Shutterstock)
5 PLACES WITH THE LOWEST RETIREMENT AGE
An Aperion Care study researched the official retirement ages for people around the world.
We chose the 5 lowest and 5 highest retirement ages of countries for which more information is available. Read on to see what they are. (Photo: Shutterstock)
5. JAPAN
- In Japan, the retirement age was raised in 1998 from 55 to 60, and has been rising ever since.
- Currently it stands at 62.7, but by 2025, it’s expected to be 65 for both men and women.
- And at present it has the oldest population in the world.
- While Japanese generally stay in the country upon retirement, to remain close to their families, there is evidence that more Japanese are moving to Southeast Asia, Malaysia in particular, in retirement. (Photo: Shutterstock)
4. INDIA
- At present the official retirement age in India is 60, and in the private sector it recently rose from 58 to 60.
- And although it has increased, the report says, many older Indians have continued to work past official retirement due to rampant poverty and familial obligations.
- Thus the actual retirement age has changed very little.
- Most retired Indians stay in the country, but those who do not often send money home to provide for their families. (Photo: Shutterstock)
3. RUSSIA
- In Russia (and Senegal, Mozambique and Madagascar, too) retirement age is 57.5.
- Although the African continent has several countries with lower retirement ages, it could be tough to stick it out longer; the report points out that “considering so much of the workforce is involved in agriculture and labor, over time, a person’s ability to work is affected by the physical toll it takes on their body, and earlier retirement might be necessary.”
- Russia, on the other hand, didn’t change retirement ages when it overhauled its retirement system in 2002 from pay-as-you-go to an earnings-defined contribution system, but the report says, “Putin recently signed a law raising the retirement age for state officials—65 for men and 63 for women. No other plans/increases are being considered.”
- It adds that many people who leave intentionally avoid notifying the government of that little fact, with younger Russians heading to China and the West. (Photo: AP)
Advertisement
2. CHINA
- China has the second lowest age for retirement, at an average age of 56.25.
- The report says that since 15 percent of the total population is already at retirement age or even older, there are rumors of changing the age to help combat the effects of an unbalanced labor population.
- In addition, the Chinese government plans to gradually increase the official retirement age (a few months every year) to offset the effects of an aging population.
- Some Chinese are investing in retirement properties outside the country, both for themselves and for their parents, with the U.S., U.K., Canada and Australia popular destinations. (Photo: Shutterstock)
1. UNITED ARAB EMIRATES
- Natives of the UAE have an official retirement age of 49, although expats — non-UAE nationals — have to stick it out till age 60.
- And those non-UAE nationals are discouraged from staying in the country, once they do retire, by “certain policies” that forbid it. (Photo:Shutterstock)
5 PLACES WITH THE HIGHEST RETIREMENT AGE
If you’re looking forward to retirement, you’re not alone.
But according to Aperion Care's study, most Americans won't be retiring as early as folks in other countries. Here are the 5 countries with the highest retirement age.
5. AUSTRALIA
- Australia’s at 65 (and so is Belgium).
- But Australia has raised the retirement age to 67 for those born after 1957, and those still in the workforce plan to retire later rather than sooner, with 65 the average age at which they expect to retire.
- And if they leave home when they retire, their top three destinations are Italy, Greece and New Zealand. (Photo: AP)
4. NETHERLANDS
- At 65.75 years old, the retirement age in the Netherlands is approaching the higher end in Europe.
- But in that range between 65 and 66 also fall Finland, at 65.25, France, at 65.3, and Germany and Spain, both at 65.4. (Photo: Shutterstock)
Advertisement
3. UNITED STATES
- Not just the U.S., but also Italy, Denmark and Ireland come in at 66 for an official retirement age—although Portugal comes close, at 66.25.
- And the average retirement age in the U.S. is actually 63 (some of those folks who thought they’d be working longer and then didn’t, no doubt).
- And while the retirement age in the U.S. has risen since the 1990s, the report points out that the 65+ population “tends to switch to part-time work.”
- When folks leave the U.S. to retire elsewhere, favored destinations are Canada, Japan, Mexico, Germany and the U.K. (Photo: Fotolia)
2. ICELAND
- The retirement age in Iceland is 67, but the average male Icelander actually retires at the age of 68.5.
- Strong disincentives for early retirement and, in return, incentives for retiring later encourage a longer working life.
- Thus this country is an unlikely target for an expat U.S. resident looking for a retirement haven. He might have to go back to work! (Photo: Shutterstock)
1. NORWAY
At 67.75 years old, Norway has the highest average age for retirement, with people retiring at 62–75 years old if they’re receiving an earnings-related pension and 67 years old for the national pension.
And while 67 has been the official retirement age since the 1970s, the report adds that in 2011, Norway established “flexible retirement” for earnings-related pensions—Norwegians can draw pensions as early as age 62.
And people do move away when they retire; the most popular destinations are Sweden, followed by the U.S., Denmark and Spain. (Photo: Shutterstock)
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