Retirement Ages
At the moment, retirement at age 65 years is common in EU Member States. Many countries have decided to raise the retirement age to 67 years. For the main part, the changes in retirement ages are scheduled to take place between 2020 and 2030.
Increasingly, the retirement age is being linked to life expectancy. In addition to Finland this mechanism is available in Cyprus, Denmark, Estonia, Greece, Italy, the Netherlands, Portugal and Slovakia. Also in the UK, after decision-based increases, the retirement age will change automatically based on life expectancy.
In some countries, the retirement ages are different for men and women. In such countries, women have a lower retirement age. As a rule, as retirement ages rise, they will be the same for men and women.
The figure below shows the currently valid and future retirement ages in different countries. In countries with a flexible retirement age (Canada, Finland, Norway, Sweden and the US), the indicated retirement age is the lower age limit.
Current and future retirement ages
The retirement ages and decisions to raise the retirement ages are listed in the table of comparison below. The table lists first the earnings-related retirement age, then the national retirement age if it deviates from the first. Men’s and women’s retirement ages are also listed, if they differ from each other.
The retirement ages in the table are the earliest ages at which a person can withdraw a statutory pension without deductions for early retirement. In most cases, people can also retire late. As a rule, they are entitled to an increment for late retirement.
In many countries it is possible to retire early, before the general retirement age of the old-age pension. In some countries, if the insurance period is long, the pension taken into payment early is not reduced. These special arrangement have not been included in the table.
The retirement age in Canada, Finland, Norway, Sweden and the US is flexible. That means that a person can take out their pension within a certain age range. The upper and lower age limits are listed in the table.
| Current general retirement age (2023) | Future retirement age | Retirement age linked to life expectancy | |
|---|---|---|---|
| EU | Men/ Women | Retirement age or men/women | |
| Netherlands | 66 yrs 10 mos | 67 yrs 3 mos (2028) | x |
| Belgium | 65 | 67 (2030) | |
| Bulgaria | 67 | 67 (2023) | |
| Spain | 66 yrs 4 mos | 67 (2027) | |
| Ireland | 66 | – | |
| Italy | 67 | – | x |
| Austria | 65 / 60 | 65 (2033) | |
| Greece | 67 | – | x |
| Croatia | 65 / 63 yrs 3 mos | 65 | |
| Cyprus | 65 | 65 (2024) | x |
| Latvia | 64 yrs 6 mos | 65 (2025) | |
| Lithuania | 64 yrs 6 mos / 64 yrs | 65 (2026) | |
| Luxembourg | 65 | – | |
| Malta | 64 | 65 (2027) | |
| Portugal | 66 yrs 4 mos | – | x |
| Poland | 65 / 60 | – | |
| France | 62 yrs 3 mos | 64 (2032) | |
| Romania | 65 / 62 | – /63 (2030) | |
| Sweden | 63–69; 66* | Income pension: 64 (2026) Guarantee pension: 67 (2026) | x |
| Germany | 65 yrs 11mos | 67 (2031) | |
| Slovakia | 63 | 64 (2030) | |
| Slovenia | 65 | – | |
| Finland | 64 yrs 3 mos–69 yrs; 65* | 65 (2027); 65(2030) | x |
| Denmark | 67; 67* | 69 (2035) | x |
| Czech | 64 | 65 (2030) | |
| Hungary | 65 | – | |
| Estonia | 64 yrs 6 mos | 65 (2026); 65 (2027) | x |
| Other countries | Men/ Women | Retirement age or men/women | |
| Australia | 59; 66 yrs 6 mos* | 60 (2024); 67 (2024)* | |
| United Kingdom | 66 | 68 (2046) | |
| Iceland | 67 | – | |
| Japan | 64 / 63; 65* | 65 (2025) / 65 (2030) | |
| Canada | 60–70; 65–70 | – | |
| Norway | 62–75; 67* | – | |
| Switzerland | 65 / 64 | –/65 (2028) | |
| Russia | 61 yrs 6kk / 56 yrs 6 mos | 65 (2028); 60 (2028) | |
| USA | 62–70 | – | |
| * FI, SE, DK, NO, AU ja JP: the retirement age of the national pension has been separated from that of the earnings-related pension with a semicolon. |
NL: The retirement age will rise by 3 months/year between 2021-2023 and 2 months between 2023-2024 until it is 67 years. As of 2025, the retirement age will be linked to changes in life expectancy.
BE: The retirement age will rise to 66 years in February 2025 and 67 years in February 2030. It is possible to retire at age 60 after a working life spanning 44 years and at age 61 after a 43 years of work. If certain criteria is met, a person can retire at age 63.
UK: The retirement age will rise from 66 to 67 years in the period 2026-2028. According to the current schedule, the retirement age will rise to 68 years in the years 2044-2046.
BG: The retirement age will rise by 2 months/year until it is 67 years in 2023 if the person has been insured for 15 years. With a full insurance period (39 yrs 2 mos for men and 36 yrs 2 mos for women), the retirement age for women is 62 years and for men 64 years 5 months. The retirement age will rise by 1 month/year for men until it is 65 years in 2029. The retirement age for women will rise by 2 months/years until it is 65 years in 2037.
ES: If a person has worked for more than 37 years and 6 months, the retirement age is 65 years. In 2027, the requirement will rise to 38.5 years.
IE: The rise of the retirement age to 67 years by 2021 and 68 years by 2028 was cancelled until further notice in 2020.
IT: The retirement age is adjusted every second year based on life expectancy. In 2022, it is possible to retire at age 64 if one’s working life spans 38 years (quota102). Regardless of age, women can retire after a working life of 41 years and 10 months, men after 42 years and 10 months.
AT: Women’s retirement age will be raised gradually (6 months/year) to 65 years from 2024 to 2033. Persons with a long working life can retire earlier.
EL: The retirement age has been linked to life expectancy as of 2021. If the working life spans at least 40 years, it is possible to retire at age 62.
HR: Women’s retirement age will rise by 3 months/year during a transition period until it is 65 years in 2030. It is possible to retire at age 60 if one’s insurance period is at least 41 years long. The plan to raise the retirement age to 67 years was cancelled in 2019.
CY: The retirement age is determined based on changes to life expectancy. Under certain conditions, it is possible to retire on an old-age pension already at age 63.
LV: The retirement age will rise by 3 months/year until it is 65 years in 2025. Retirement requires a working life of 15 years.
LT: The retirement age for women will rise by 4 months/year and for men by 2 months/year until it is 65 years for both genders in 2026.
LU: It is possible to retire on an old-age pension at age 57 or 60 years if the insurance period is at least 40 years long. The retirement age for an old-age pension is 60 years if part of the insurance period has been purchased retroactively.
MT: After a long insurance period (35 years), it is possible to retire at age 61. The required insurance period will rise to 40 years for those born in 1962 and 41 years for those born in 1969.
PT: The retirement age is determined based on the change in life expectancy for the 65-year-olds. In 2023, the retirement age will be lowered to 66 years and 4 months.
PL: The previous decision to raise the retirement age was cancelled in 2017.
FR: The pension can be drawn without reductions at 62 years in case of a full insurance period (41 years and 9 months). It is possible to retire on full old-age pension at age 67 regardless of the length of one’s working life. It is also possible to take payment of a reduced pension before reaching the retirement age.
RO: Women’s retirement age will rise by one month every 3 months until 2023. After that, by 1 month/5 months until it is 63 years in 2030.
SE: Flexible retirement age (62-68 years) for earnings-related pensions; guaranteed pension 65 years. The retirement age for the guaranteed pension will rise to 66 years (2023); the earnings-related retirement age 62-68 (2020), 63-69 (2023). Both retirement ages will be linked to changes in life expectancy as of 2026.
DE: The general retirement age (Regelaltersgrenze) will rise by 1 month/year until it is 66 years and by 2 months/year after that until it is 67 years in 2031. After a long insurance period, the pension can be granted at age 63 at the earliest also in the future.
SK: The retirement age rises by 2 months until it is 64 years in 2030. The more children one has, the more the retirement age is reduced, both for men and women. Based on physically strenuous work and a long working life, the retirement age can be 55-59 years.
SI: The retirement can be granted (reduced) after an insurance period of 40 years at age 60 for both women and men. Children, military service, working between the ages of 15 and 18 and working in jobs hazardous to health or strenuous work lower the retirement age.
FI: Flexible retirement age: 64–69 years, national pension 65 years. The earnings-related retirement rises by 3 months/year until it is 65 years in 2027. In 2030, the retirement age will be linked to life expectancy.
DK: National retirement age: 66 years 6 months. ATP retirement age: 67 years. The national pension retirement age will rise to 67 years in 2019-2022. As of 2030, the retirement age will be linked to life expectancy.
CZ: The retirement age will rise by around 2 months/year until it is 65 years for both genders in 2030. Special rules for mothers until 2036.
HU: The retirement age is 64 years and 6 months for those born in 1956. Women can retire at any age providing they have been insured for at least 40 years (or less, if they have 5 or more children).
EE: The retirement ages will rise by 3 months/age cohort (for those born between 1954 and 1960). For those born in 1961 or later, the retirement age is 65 years (in 2026). As of 2027, the retirement age will be linked to changes in life expectancy. Having children may reduce the retirement age by 3-5 years.
AU: The retirement age of the mandatory insurance (Superannuation) will rise by 12 months/year until it is 60 years. As of 1 July 2024 the retirement age of the minimum pension (Age pension) will rise by 6 months/two years until it is 67 years in 2023.
IS: The government approved a bill in 2017 that will raise the retirement age from the current 67 to 70 years. The original schedule (2018-2041) was not included in the act.
JP: The retirement age of the earnings-related pension will rise to 65 years for men between 2013 and 2025 and for women between 2018 and 2030. The retirement age will rise by one year every third year. The retirement age of the national pension (without reductions) is 65 years.
CA: Flexible retirement age for the earnings-related pension (CPP): 60-70 years, and for the national pension (OAS) 65-70 years. Retirement age of the old-age pension (without reductions) is 65 years.
NO: Flexible retirement age: 62-75 years. Regular retirement age: 67 years. The pension must be high enough to be allowed to retire under the age of 67.
RU: After a long working life, a certain number of children, professions that are defined strenuous, and for workers in the northern parts of the country, the pension can be granted at a lower age.
US: The full retirement age is 66 years and 4 months. The retirement age for an unreduced pension will rise by 2 months/year until it is 67 years in 2027. A reduced pension can be granted as of age 62 at the earliest.