The age at which the first retirement pension is received is one of the indicators to determine the retirement age. Indeed, it is very difficult to determine the retirement age, because it can be interpreted in different ways. For instance, a 59-year old, unemployed, can view him/herself as retired even if he/she is not yet receiving any pension.
There are two key figures for retirement age:
- the legal age, at which someone is entitled to claim his/her pension rights; and
- the actual age, at which people actually claim their pension rights, even if they have not acquired full pension rights.
There is often a divergence between these two ages. For instance, the official retirement age in Belgium is 65 years, while the actual age is 60.8 years on average.
Scope: people aged between 50 and 69 years old / Source: Eurostat, Ifso_12agepens table
You can find all the legal retirement ages in Europe as of 01 July 2015 by clicking on the following link: Cleiss and retirement (French Language). In all European countries the legal retirement age is at least 60 years old.
Gender differences are not the same in every country. In Belgium and in Germany, women receive a retirement pension earlier than men on average. In Spain, Italy and the United Kingdom, it’s the opposite, women receive their first retirement pension slightly later than men.This reflects how the states help women reconcile professional and family life.
An Increasingly Late Retirement
The average age at which people receive their retirement pension is expected to rise: for instance, in France in 2014, people who retired were 62.3 years old on average (source: CNAV). In Germany, those born in 1964 and after will only be able to retire from the age of 67.
Other countries such as Croatia and Italy intend to raise the legal age of retirement to 67 years old (in 2038 for Croatia, in 2021 for Italy), for both men and women. In Greece, the legal age was already 67 years old in 2015 for some categories. In Nordic countries such as Sweden and Finland, a flexible retirement system allows workers to retire between 61 and 75 years old, thus encouraging late retirement (source: Cleiss).
– Seniosphère Conseil
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