Retirement in Europe

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Retirement age differs in European countries and is a matter of debate across Europe because of an aging population.

Contents

Retirement age by country

Retirement age in Europe
CountryMenWomenYearNotesReferences
Albania 65612020 [1]
Austria 65602018In Austria the retirement age for women is to be equalized to the retirement age for men (65) by 2033. [2] [1] [3]
Belarus 62.557.52021By 2022, the age will be 63 for men and 58 for women. [4] [5]
Belgium 65652018In Belgium the retirement age is to be increased gradually to 67 years by 2030. [2] [5]
Bosnia and Herzegovina 65652024 [1]
Bulgaria 64 (and 7 months)62 (and 2 months)2024In Bulgaria the retirement age for women is to be equalized to the retirement age for men (65) by 2037. [2]
Croatia 6563 (and 6 months)2024In Croatia the retirement age for women is to be equalized to the retirement age for men (65) by 2030. [2]
Cyprus 65652018 [1] [3]
Czech Republic 63 (and 4 months)58 (and 8 months) – 62 (and 8 months)2018In the Czech Republic, in the year 2015, men had the retirement age of 62 years and 10 months and women had it between 58 and 62, depending on number of children. [6] [7] 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. [8] ) For women the retirement age depends on the number of raised children as well. [9] 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. [7]
Denmark 67672022In Denmark, the retirement age will be increased gradually to reach 67 years by 2022. From 2030 onwards, it will be increased a maximum of one year every five years depending on increases in average lifespan. [10] [11] See also: Pensions in Denmark. [3] [5]
Estonia 63 (and 9 months)63 (and 9 months)2019In Estonia the retirement age is to be increased gradually to 65 years by 2026. [12] After 2026 it will be linked to the average life expectancy. [3] [5]
Finland 65652008 [3]
France 62 to 6762 to 672022Depends on the duration of contribution (minimum 43 years)
Germany 65 (and 7 months)65 (and 7 months)2015In Germany the retirement age is to be increased gradually and reach 67 years by 2029. See also: Pensions in Germany. [3] [5]
Greece 67672015 [2]
Hungary 65652022Women with 40 years of insurance can retire at any age. [2] [2]
Iceland 67672018 [5]
Ireland 65652024In Ireland there is no general mandatory retirement age although some jobs, such as jobs in law enforcement or firefighting, may be subject to a statutory retirement age. Employers may define their own retirement age. [13]
Italy 67672019Must have paid contributions for at least 20 years.

Those who have paid contributions for at least 38 years can retire at 64. [14] 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.

 [15]
Latvia 64 (and 6 months)64 (and 6 months)2023The age will be 65 by 2025. [2] [2]
Liechtenstein 65652018 [5]
Lithuania 64 (and 6 months)642023In Lithuania, the retirement age will be 65 for both men and women by 2026. [2] [2] [16]
Luxembourg 65652018 [1]
Malta 62622015In Malta the retirement age is to be increased gradually to 65 years by 2027. [2] [2]
Moldova 63592020Retirement age for women is increasing every 6 months until it reaches 63 years in 2028. [1]
Montenegro 66642022 [1]
Netherlands 66 (and 4 months)66 (and 4 months)2019In the Netherlands the retirement age is 68 years old. The state pension for all elderly is to be increased gradually to reach 67 years and 9 months by 2022. [17] After 2022 it will be linked to the average life expectancy. [1] [3] [18]
North Macedonia 64622011 [1]
Norway 67672018See also: Pensions in Norway

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.

Poland 65602016
Portugal 66 (and 4 months)66 (and 4 months)2018 [19]
Romania 65612019The age for women is being increased gradually. It will reach 63 by 2030. [20] [21]
Serbia 6563 (and 8 months)2024By the year of 2032 retirement age for women will equalize with men and reach 65.

Also it is possible to gain pension after 45 years of labour if that happens prior to 66th year of life for men or aged 61 years and 6 months for women. It would be at least 60 for both men and women, considering the fact that person is legally labour-eligible aged 15 in Serbia. [22]

[1]
Slovakia 64642021 [23]
Slovenia 65652018 [2]
Spain 65 (and 3 months)65 (and 3 months)2015The age will be 67 by 2027. [2] See also: Pensions in Spain. [1] [3]
Sweden 66662020, options age 62–68.By 2026 it will be 67, with options age 64-69.
Switzerland 65642022 [24] [25] [26]
Ukraine 60602022
United Kingdom 66662021The retirement age is due to be increased to 67 by 2028 and 68 by 2046. See also: Pensions in the United Kingdom. [27]

See also

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<span class="mw-page-title-main">Retirement</span> Point where a person ceases employment permanently

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<span class="mw-page-title-main">Old age</span> End of life stage

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<span class="mw-page-title-main">Dependency ratio</span> Age-population ratio of those in the labor force to those not in the labor force

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<span class="mw-page-title-main">Population ageing</span> Increasing median age in a population

Population ageing is an increasing median age in a population because of declining fertility rates and rising life expectancy. Most countries have rising life expectancy and an ageing population, trends that emerged first in developed countries but are now seen in virtually all developing countries. In most developed countries, the phenomenon of population aging began to gradually emerge in the late 19th century. The aging of the world population occurred in the late 20th century, with the proportion of people aged 65 and above accounting for 6% of the total population. This reflects the overall decline in the world's fertility rate at that time. That is the case for every country in the world except the 18 countries designated as "demographic outliers" by the United Nations. The aged population is currently at its highest level in human history. The UN predicts the rate of population ageing in the 21st century will exceed that of the previous century. The number of people aged 60 years and over has tripled since 1950 and reached 600 million in 2000 and surpassed 700 million in 2006. It is projected that the combined senior and geriatric population will reach 2.1 billion by 2050. Countries vary significantly in terms of the degree and pace of ageing, and the UN expects populations that began ageing later will have less time to adapt to its implications.

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References

  1. 1 2 3 4 5 6 7 8 9 10 11 Інформація про поточний пенсійний вік у різних країнах, Консультаційна компанія "Стратегія Лайф" .
  2. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 "Etk.fi - Avain asiantuntijan työeläketietoon". etk.fi. Retrieved 23 July 2016.
  3. 1 2 3 4 5 6 7 8 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), , p. 78.
  4. ↑ "Пенсионный возраст в Беларуси | Новости Беларуси|БелТА". 11 April 2016.
  5. 1 2 3 4 5 6 7 Kłos B., Wiek emerytalny kobiet i mężczyzn, "infos", 7.02.2008 Archived 2010-03-31 at the Wayback Machine
  6. ↑ "Retirement Ages".
  7. 1 2 "Old-age Pension". Czech social security administration. Archived from the original on 2 March 2012.
  8. ↑ Part 3 of paragraph 32 of Czech law 155/1995
  9. ↑ Czech Social Security Administration: Old-age Pension
  10. ↑ "Adjust your savings to match your retirement expectations". english.pfa.dk. Retrieved 23 July 2016.
  11. ↑ "Denmark has world's best pension system - The Local". thelocal.dk. 13 October 2014. Retrieved 23 July 2016.
  12. ↑ "Pensionikeskus". pensionikeskus.ee. Archived from the original on 25 December 2018. Retrieved 9 April 2017.
  13. ↑ "Retirement age". Citizens Information. Retrieved 13 September 2024.
  14. ↑ Pensione anticipata con 64 anni di età e 38 anni di contribuzione
  15. ↑ "Età pensionabile".
  16. ↑ "Old age pension age table". Sodra. Retrieved 24 April 2020.
  17. ↑ Werkgelegenheid, Ministerie van Sociale Zaken en (3 November 2017). "AOW-leeftijd in 2023 niet omhoog". www.rijksoverheid.nl (in Dutch). Retrieved 29 March 2018.
  18. ↑ "Op 1 januari 2018 gaat de pensioenleeftijd naar 68 jaar: wat betekent dat voor jou?". Business Insider. 30 October 2017. Retrieved 19 May 2018.
  19. ↑ Raquel Martins (15 October 2013). "Idade da reforma passa para os 66 anos em 2014". PÚBLICO.
  20. ↑ "Casa Judeteana de Pensii Arad".
  21. ↑ "Casa Judeteana de Pensii Arad". cjpensiiarad.ro. Retrieved 23 July 2016.
  22. ↑ The Institute for Social Insurance
  23. ↑ "Dôchodkový vek".
  24. ↑ "Die Pensionierung planen". www.ch.ch (in German). Retrieved 22 August 2022.
  25. ↑ Office, Central Compensation. "Old-age pensions". www.zas.admin.ch. Retrieved 22 August 2022.
  26. ↑ "10. AHV-Revision". swissvotes.ch. Retrieved 22 August 2022.
  27. ↑ "Check your State Pension age | nidirect". 28 October 2015.
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