The French government did not start 2023 on the right foot in what is probably one of the most sensitive, thorny and controversial fronts with which it has to deal, at least in the arena of domestic politics: the retirement age. Élisabeth Borne, the country’s prime minister, advanced a reform of the system between now and 2030 that extends it from 62 to 64 years, with a contribution period of 43 to qualify for a full pension from 2027. The measure was not liked between the unions. Not even on the street, where the protests have taken place. Just a few days ago, in fact, 1.3 million protesters mobilized, according to calculations by the CGT.
France is not the only one that has seen itself in the position of rethinking its retirement age, but the scope that the measure has had there leaves an interesting question being thrown away: at what age do you say goodbye to working life in other countries? ?
What is the situation in Spain? Social Security clarifies that when retirement is accessed depends on the age of the person concerned and the contributions they have accumulated. The table published by the organization reflects that, in 2023, and as a general guideline, it is set at 65 years for those who have contributed for at least 37 years and 9 months. Those who do not reach that minimum contribution see it postponed to 66 years and four months. There is also the option of early retirement, anticipating the retirement of each worker two years. Of course, with certain handicaps.
In any case, Spain is no stranger to the scenario that they also face on the other side of the Pyrenees and, although the retirement age has traditionally been set here at 65 years, the reform applied to guarantee the sustainability of the pension system foresees a gradual increase throughout the period between 2013 and 2027. By then, those who have contributed for at least 38 and a half years may retire at age 65. The rest will do so after 67.
The photography of the rest of the countries. The Finnish Pension Center (Eläketurvakeskus) provides an overview of the situation in other European countries. And the trend. “Currently, retirement at 65 is common in the EU member states. Many countries have decided to raise the retirement age to 67. For the most part, the changes are expected between 2020 and 2030,” the agency says. which clarifies that, “increasingly”, the moment in which one can opt for the benefit is linked to life expectancy.
And for sample, a button (or a table). The ages vary considerably between countries, as well as the options for early retirement or flexibility, and some contemplate different references for women and men. In any case, the Finnish institute provides a detailed table that shows the different records by nation and their forecasts. When analyzing it, several factors must be taken into account, such as that in cases such as Finland or Sweden the age for the national pension is separated from that related to income with a “;”.
The “+” indicate that the retirement age increases along with life expectancy itself. There are also particular cases, such as the Netherlands, where the retirement age increases three months per year between 2021 and 2023 and two months for the period 2023-2024, up to 67 years. From 2025 it will be linked to the evolution of life expectancy. Details are on the center’s website.
General retirement age (year 2022)
future retirement age
UE
Men women
Retirement age men/women
Austria (AT)
65/ 60
65 (2033)
Belgica (BE)
65
67 (2030)
Bulgaria (BG)
66 years and 10 months
67 (2023)
Croatia (HR)
65/ 63
65
Chipre (CY)
65
65+ (2023)
Czech Republic (CZ)
63 years and 10 months
65 (2030)
Dinamarca (DK)
67
68+ (2030)
Estonia (EE)
64 years and 3 months
65 (2026)
65+ (2027)
Finland (FI)
64 years – 68; 65
67 (2027); 65+ (2030)
France (FR)
62
–
Germany (DE)
65 years and 10 months
67+
Greece (EL)
67
67+
Hungary (HU)
65
–
Ireland (IE)
66
67 (2031)
Italia (IT)
67
67+
Letonia (LV)
64 years and 3 months
65 (2025)
Lithuania (LT)
64 years and 4 months/ 63 years and 8 months
65 (2026)
Luxembourg (LU)
65
–
Malta (MT)
63
65 (2027)
Netherlands (NL)
66 years and 7 months
67+ (2025)
Polonia (PL)
65/ 60
–
Portugal (PT)
66 years and 7 months
66+
Romania (RO)
65/ 61 years and 9-11 months
-/63 (2030)
Slovakia (SK)
62 years and 10 months
64 (2030)
Slovenia (SL)
65
–
Spain (ES)
66 years and 2 months
67 (2027)
Sweden (SE)
62-68; 65
63-69 (2023), 63+ (2026); 66 (2023), 66+ (2026)
Other countries
Men women
Retirement age men/women
Australia
59; 66 years and 6 months
60 (2024); 67 (2023)
Canada (CA)
60 – 70; 65 – 70
–
Islandia (IS)
67
–
Japan (JP)
64% 62; 65
65 (2025)/ 65 (2030); –
Norway (N.O.)
62-75; 67
–
Russia (RU)
61 years and 6 months/ 56 years and 6 months
65 (2028); 60 (2028)
Switzerland (CH)
65/64
–
United Kingdom (UK)
66
68 (2046)
USA (US)
62-70
67 (2027)
What countries stand out? Taking again the data from the Finnish organization as a reference, among those that contemplated a lower general retirement age in 2022, France (62 years), Slovakia (62 years and 10 months), Sweden, which foresees a flexible age of between 62 and 62, stands out. and 68 for earnings-related pensions, the Czech Republic (63 years and 10 months) and Malta (63).
Spain is assigned the 66 and two months that were required in 2022 if less than 37 and a half years had contributed. At the opposite pole, Denmark, Greece, Italy, the Netherlands or Portugal stand out, where around 67 are required.
The OECD perspective. The Organization for Economic Cooperation and Development (OECD) has its own statistics, which help to complete the focus. Its Pensions at a Glance 2021 report shows at what age a worker who began an uninterrupted career at the age of 22 could retire in 2020, both early and conventionally. The data reflects the oscillations between OECD countries, beyond the states that make up the EU.
The Eläketurvakeskus also reflects how in Russia the age between 61 and a half or 56 and a half years is considered, depending on whether the worker is a man or a woman; and in the US the data moves in a wide range, ranging from 62 —when one would have access to “a reduced pension, at the earliest”— to 70 years.
The expected years of retirement, the key. The retirement age and its evolution cannot be understood without two other decisive factors: the demographic winter, marked by the drop in the birth rate, and the increase in life expectancy itself, which determines the time in which a worker enjoys of the pension from the moment you leave your job. And this last value, unlike the previous one, has increased over the last few years.
According to EuroNews, in 1970 men in OECD countries enjoyed their retirement an average of 12 years and women 16. By the mid-90s, the data had already shot up to 17.1 and 22.4, respectively. . By 2020, the body expected that men would have an expectation of 19.5 and women 23.8. For reference, World Bank data show that during the same period the fertility rate of the organization’s member countries contracted significantly: from 2.8 in 1970 to 1.6 in 2020.
Images: Workers Commissions (Flickr)
