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Retirement in Europe

From Wikipedia, the free encyclopedia

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

Retirement age by country

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Main article: Retirement age
Retirement age in Europe
Country Men Women Year Notes References
Albania 65 61 2020 [1]
Austria 65 60 2018 In Austria the retirement age for women is to be equalized to the retirement age for men (65) by 2033.[2] [1][3]
Belarus 62.5 57.5 2021 By 2022, the age will be 63 for men and 58 for women.[4] [5]
Belgium 65 65 2018 In Belgium the retirement age is to be increased gradually to 67 years by 2030.[2] [5]
Bosnia and Herzegovina 65 65 2024 [1]
Bulgaria 64 (and 7 months) 62 (and 2 months) 2024 In Bulgaria the retirement age for women is to be equalized to the retirement age for men (65) by 2037. [2]
Croatia 65 63 (and 6 months) 2024 In Croatia the retirement age for women is to be equalized to the retirement age for men (65) by 2030. [2]
Cyprus 65 65 2018 [1][3]
Czech Republic 63 (and 4 months) 58 (and 8 months) – 62 (and 8 months) 2018 In 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 67 67 2022 In 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) 2019 In 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 65 65 2008 [3]
France 62 to 67 62 to 67 2022 Depends on the duration of contribution (minimum 43 years)
Germany 65 (and 7 months) 65 (and 7 months) 2015 In Germany the retirement age is to be increased gradually and reach 67 years by 2029. See also: Pensions in Germany. [3][5]
Greece 67 67 2015 [2]
Hungary 65 65 2022 Women with 40 years of insurance can retire at any age.[2] [2]
Iceland 67 67 2018 [5]
Ireland 65 65 2024 In 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 67 67 2019 Must 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.

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Latvia 64 (and 6 months) 64 (and 6 months) 2023 The age will be 65 by 2025.[2] [2]
Liechtenstein 65 65 2018 [5]
Lithuania 64 (and 6 months) 64 2023 In Lithuania, the retirement age will be 65 for both men and women by 2026.[2] [2][16]
Luxembourg 65 65 2018 [1]
Malta 62 62 2015 In Malta the retirement age is to be increased gradually to 65 years by 2027.[2] [2]
Moldova 63 59 2020 Retirement age for women is increasing every 6 months until it reaches 63 years in 2028. [1]
Montenegro 66 64 2022 [1]
Netherlands 66 (and 4 months) 66 (and 4 months) 2019 In 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. For men and women born after January 1st, 1999 the expected retirement age is 70 years old. However, retirement ages are set 5 years before you've reached this age. [17] After 2022 it will be linked to the average life expectancy. [1][3][18]
North Macedonia 64 62 2011 [1]
Norway 67 67 2018 See 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 65 60 2016
Portugal 66 (and 4 months) 66 (and 4 months) 2018 [19]
Romania 65 61 2019 The age for women is being increased gradually. It will reach 63 by 2030.[20] [21]
Serbia 65 63 (and 8 months) 2024 By 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]

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Slovakia 64 64 2021 [23]
Slovenia 65 65 2018 [2]
Spain 65 (and 3 months) 65 (and 3 months) 2015 The age will be 67 by 2027.[2] See also: Pensions in Spain. [1][3]
Sweden 66 66 2020, options age 62–68. By 2026 it will be 67, with options age 64-69.
Switzerland 65 64 2022 [24][25][26]
Ukraine 60 60 2022
United Kingdom 66 66 2021 The 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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References

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  1. ^ a b c d e f g h i j k Інформація про поточний пенсійний вік у різних країнах, Консультаційна компанія "Стратегія Лайф" [1].
  2. ^ a b c d e f g h i j k l m n o "Etk.fi - Avain asiantuntijan työeläketietoon". etk.fi. Retrieved 23 July 2016.
  3. ^ a b c d e f g h 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.
  4. ^ "Пенсионный возраст в Беларуси | Новости Беларуси|БелТА". 11 April 2016.
  5. ^ a b c d e f g Kłos B., Wiek emerytalny kobiet i mężczyzn, "infos", 7.02.2008 Archived 2010-03-31 at the Wayback Machine
  6. ^ "Retirement Ages".
  7. ^ a b "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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