What Is My Retirement Age?
Retirement age is important because it indicates the age when a person, a man or a woman in a particular country, can become retired. He or she can stop working and begin receiving financial support from the country's government, called a retirement fee or a pension. Retirement age is usually established by the government and is different for men and women. Also, it differs from one country to another.
For example, in the US, the current retirement age (as of early 2021) varies between 62 and 67 depending on other factors like the person's year of birth, his job details, etc. In Canada, it is 65 for both genders but also depends on the specifics of the person's job. In Mexico, the current retirement age is 65 for both men and women, and in Cuba, it is 60 for women and 65 for men. In Brazil, it is 65 for men and 62 for women.
In Europe, the retirement age for the people of the UK is 66 for both genders but quite soon it will be increased up to 67. In France, the retirement age varies from 62 to 67, and in Germany, it is 65.6 years for both women and men. In Spain, it is 65 years and 4 months both for women and men and in Italy, it is 67 both for women and for men. In Poland, the retirement age is 65 for men and 60 for women, in Sweden it is 65 for both genders, and in Norway, it is 67 for both genders.
In South America, the retirement age in Argentina is 65 for men and 60 for women, and in Australia, the retirement age is specified as 66, both for men and women, but is expected to be increased very soon. In New Zealand, it is 65 both for men and women. In China, the retirement age is 60 for men and 50-55 for women, which is among the lowest in the world. In India, the retirement age varies from 60 to 65, and in Russia, it is 60.5 for men and 55.5 for women.
Thus, according to the figures given by the Organization for Economic Cooperation and Development, the average retirement age in the world for men is considered to be 65 years, and the average retirement age for women in the world is estimated to be close to 63.5 years.