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.
Retirement ages in different countries
| EU-country | Current general retirement age (2024): men/women | Future retirement age: men/women | Retirement age linked to life expectancy |
|---|---|---|---|
| Netherlands | 67 | 67 yrs 3 mos (2028) | x |
| Belgium | 65 | 67 (2030) | – |
| Bulgaria | 67 | – | – |
| Spain | 66 yrs 6 mos | 67 (2027) | – |
| Ireland | 66-70 | – | – |
| Italy | 67 | – | x |
| Austria | 65 / 60 y 6 mos | 65 (2033) | – |
| Greece | 67 | – | x |
| Croatia | 65 / 63 yrs 6 mos | 65 | – |
| Cyprus | 65 | – | x |
| Latvia | 64 yrs 9 mos | 65 (2025) | – |
| Lithuania | 64 yrs 8 mos / 64 yrs 4 mos | 65 (2026) | – |
| Luxembourg | 65 | – | – |
| Malta | 64 | 65 (2027) | – |
| Portugal | 66 yrs 4 mos | 66 y 7 mos (2025) | x |
| Poland | 65 / 60 | – | – |
| France | 62 yrs 6 mos | 64 (2032) | – |
| Romania | 65 / 62 | – /63 (2030) | – |
| Sweden | 63–69; 66* | Income pension: 64 (2026) Guarantee pension: 67 (2026) | x |
| Germany | 66 | 67 (2031) | – |
| Slovakia | 63 yrs 2 mos | 64 (2030) | – |
| Slovenia | 65 | – | – |
| Finland | 64 yrs 6 mos–69 yrs; 65* | 65 (2027); 65(2030) | x |
| Denmark | 67; 67* | 69 (2035) | x |
| Czech | 64 yrs 2 mos | 65 (2030) | – |
| Hungary | 65 | – | – |
| Estonia | 64 yrs 9 mos | 65 (2026); 65 (2027) | x |
| Other countries | Men/ Women | Retirement age or men/women | Retirement age linked to life-expectancy |
| Australia | 60; 67* | – | – |
| 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 | 63 / 58 | 65 (2028); 60 (2028) | – |
| USA | 62–70 | – | – |
NL: The retirement age is linked to the development of life expectancy. The retirement age is decided 5 years in advance. The retirement age will be 67 years in 2024-2027 and 67 years 3 months in 2028.
BE: The retirement age will rise to 66 years in February 2025 and 67 years in February 2030. It is possible to retire at ages 60-63 after a working life spanning 44-42 years.
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 is 67 years with a minimum insurance period (15 years). At full insurance age (in 2024, men 39 months, women 36 months), the retirement age will be 62 months for women and 64 months for men. The retirement age increases by 1 month/year for men until age 65 in 2029 and by 2 months/year for women until age 65 in 2037.
ES: If a person has worked for more than 38 years the retirement age is 65 years. In 2027, the requirement will rise to 38.5 years.
IE: Flexible retirement age of 66-70 years from 2024
IT: The retirement age is adjusted every second year based on life expectancy. In 2024, it is possible to retire at age 62 if one’s working life spans 41 years (quota103). 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. If the requirement is not met the pension is reduced.
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. Women can also take early retirement at the age of 58 years and 6 months (in 2024) if they have been insured for at least 33 years and 6 months.
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 (40 years), it is possible to retire at age 61. The required insurance period will rise to 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. The retirement age is projected to be 66 years and 7 months in 2025. Under certain conditions, the old-age pension can be paid before the retirement age.
PL: The previous decision to raise the retirement age was cancelled in 2017.
FR: The pension can be drawn without reductions at 62 years and 6 months in case of a full insurance period (42 years and 3 months). The age limit increases by 3 months per year of birth. The insurance period for a full pension increases by 3 months per year until it reaches 43 years. 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: The retirement age for women increases by one month every five months until the retirement age of 63 in 2030. At least 15 years of insurance are required. It is possible to take an early pension up to a maximum of 5 years if the insurance period is at least 8 years longer than the full insurance period.
SE: Flexible retirement age (63-69 years) for earnings-related pensions; guaranteed pension 66 years. Both retirement ages will be linked to changes in life expectancy as of 2026.
DE: The general retirement age (Regelaltersgrenze) will rise by 2 month/year 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: From 2030 onwards, the retirement age will follow life expectancy. For those born between 1963 and 1966, 68 years. For those born in 1967, the retirement age will be 69 years.
CZ: The retirement age increases by 2 months/year until the retirement age is 65 for both in 2030. For women, children reduce the retirement age by up to 5 years (5 or more children). In addition to meeting the retirement age, a minimum of 35 years of insurance history is required to qualify for a pension. This is reduced to 20 years if the pension is taken at least 5 years after the minimum age. It is possible to take the pension early (with early retirement reduction) up to 3 years before the actual retirement age. In this case, requirement of the insurance period is also longer than normal.
According to the legislation, the ratio of the statutory retirement age to life expectancy is reviewed every 5 years. The mechanism is not binding. It allows the government to submit a proposal to Parliament to change the retirement age. The first review was in 2019 and the government decided to keep the target age of 65 unchanged.
HU: 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: –
IS: Occupational pension can be granted with a reduced pension from the age of 60 at the earliest and with an increased pension from the age of 80.
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. Pension can be paid early from the age of 60 and deferred until the age of 75.
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 8 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.