By Saurav Pandey | November 08, 2024
Here’s a look at the official retirement ages for men and women in the top 10 economies:
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The full retirement age in the U.S. varies by birth year, currently at 66 years and 8 months for those born in 1957 or later. Benefits can be claimed as early as 62, with reductions.
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China has lower retirement ages compared to Western countries, typically 50 for female workers and 55 for female cadres. Raising retirement ages is under discussion to address aging demographics.
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Germany’s retirement age is increasing to 67 by 2031, with flexible options based on contributions and choice to adapt to an aging population.
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Japan is raising the retirement age to cope with long life expectancy and a shrinking workforce, promoting work opportunities for older adults.
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In India, the retirement age for government employees is 60, with variations in the private sector. Proposals for an increase are under consideration.
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The U.K. will raise the retirement age to 67 by 2028, with potential future increases to 68, pending life expectancy reviews.
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France plans to raise the retirement age to 64 by 2030, sparking widespread debate and protests over pension reform.
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The 2019 pension reform set the retirement age at 65 for men and 62 for women, aimed at stabilizing the system.
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Italy’s high retirement age is linked to life expectancy, with ongoing reform discussions due to aging demographics and public debt concerns.
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Canada’s retirement age is 65, with flexible options from 60 to 70 and adjusted benefits to encourage delayed retirement.