The Average Age of Retirement Around The World: 20 Countries From Youngest To Oldest
The average retirement age varies significantly around the world due to various factors such as economic conditions, life expectancy, government policies, and cultural norms. Here are 20 examples ranging from the youngest to the oldest retirement ages, with explanations:
1. Saudi Arabia: 47 years
Saudi Arabia has one of the lowest retirement ages globally, likely due to its oil wealth allowing for generous pension systems.
2. Turkey: 52 years
Turkey’s relatively low retirement age is a result of past policies, though there are ongoing efforts to raise it.
3. Indonesia: 57 years
Indonesia’s retirement age reflects its younger population and lower life expectancy compared to many developed countries.
4. South Africa: 60 years
This retirement age balances the needs of an aging population with the country’s economic challenges.
5. Brazil: 62 years (men), 59 years (women)
Brazil has recently reformed its pension system to address fiscal challenges, resulting in these retirement ages.
6. Greece: 62 years
Greece has raised its retirement age in recent years as part of economic reforms, though it remains relatively low compared to other European countries.
7. South Korea: 62 years
South Korea’s retirement age is gradually increasing to address its rapidly aging population.
8. France: 65 years
France recently raised its retirement age, sparking widespread protests, as the government aims to ensure the sustainability of its pension system.
9. Canada: 65 years
This retirement age is common in many developed countries and aligns with the age for full pension benefits.
10. Finland: 65 years
Finland’s retirement age is set to gradually increase to address its aging population and ensure pension sustainability.
11. Sweden: 65 years
Sweden has a flexible retirement system that allows people to work longer if they choose, with benefits increasing for later retirement.
12. Switzerland: 65 years
Switzerland’s retirement age reflects its high life expectancy and well-funded pension system.
13. United States: 66-67 years (depending on birth year)
The U.S. has been gradually increasing its full retirement age to address Social Security sustainability.
14. United Kingdom: 66 years
The UK has been raising its state pension age to account for increasing life expectancy.
15. Netherlands: 66.58 years
The Netherlands has been gradually increasing its retirement age to maintain its pension system’s sustainability.
16. Denmark: 67 years
Denmark has one of the highest retirement ages in Europe, reflecting its strong social security system and high life expectancy.
17. Iceland: 67 years
Iceland’s high retirement age reflects its strong economy and cultural emphasis on work.
18. Israel: 67 years (men), 62 years (women)
Israel has a relatively high retirement age for men, though there are plans to gradually increase the age for women.
19. Norway: 67 years
Norway’s high retirement age is supported by its strong economy and social welfare system.
20. Japan: 68 years
While Japan’s official retirement age is 65, the effective retirement age is higher due to policies encouraging longer working lives to address the country’s super-aging society.
These examples demonstrate the wide range of retirement ages globally, influenced by each country’s unique economic, demographic, and social factors.
Don’t Get Caught Without This In Your Wallet!
Cash. It never used to be controversial, but these days it appears that there are those on both sides of the coin (so to speak). For those of us of a certain age we can remember our mothers always telling us to keep a $20 bill in our shoe or bra, in case of emergencies. Now many of us struggle to find a coin to put in the meter.
Cash lovers, and those who never carry it. What’s the reasoning, either way? A Redditor was thinking the same thing, and asked the question, Do You Still Carry Cash? These are the answers they got.
Do you still carry cash? And for what?
READ: Don’t Get Caught Without This In Your Wallet!
Retire Early, Live Fully: Embracing The FIRE Lifestyle For Financial Independence
The FIRE movement emphasizes the pursuit of early retirement by adhering to a lifestyle characterized by frugality, substantial savings, and strategic investments. Participants aim to accumulate enough financial resources to sustainably cover their living expenses without the need for traditional employment.
READ: Retire Early, Live Fully: Embracing The FIRE Lifestyle For Financial Independence
9 Of The Most Regretted Purchases People Still Regularly Make
Many people regret trying to keep up with the latest trends, whether it’s buying expensive fashion items, fancy gadgets, or luxury cars; the initial excitement often fades quickly, leaving behind feelings of disappointment. It’s essential to focus on what truly brings long-term satisfaction rather than chasing fleeting trends. Let’s take a look at a few trends and costly items that are best avoided. Read: 9 Of The Most Regretted Purchases People Still Regularly Make
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