Averages are just that. As a dentist still working aged 69, I thought about retiring, especially with Covid 19 being around. There is truth in the maxim 'use it or lose it'. I'm lucky healthwise, partly self care and partly family genetics. I'd recommend anyone thinking of retirement to only do this if they hate their job or they have something interesting to substitute to keep the grey matter active. Working a few more years arguably has many benefits for those individuals who carry on for whatever reasons. The pensions industry pushes retirement for their own selfish financial interests. Then government steps in and wacks their profits supposedly reserved for those saving for retirement with a one off tax (Gordon Brown). As someone in the private sector I can only dream about the guaranteed gold plated pensions of my NHS colleagues and the public sector in general. I'll probably be working past 75 if my health holds out.
How do average retirement ages compare globally?
The official age of retirement is slowly creeping upwards in most countries, with governments trying to strike a balance between stretched public finances and supporting their older population. But while many governments want people to work until they're 67, the age that people are actually retiring at is often lower than you might expect.
Using the latest data from the Organisation for Economic Cooperation and Development (OECD), unless otherwise specified, read on to find out which rich countries have the highest and lowest retirement ages.
Alice Cattley
27 February 2024
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So there we have it: Lovemoney complaining about our lowest pension in Europe triple lock (so far behind) and our highest retirement age in Europe. This is not so everywhere, parasites like the civil servant who determined 67 retirement age, that guy retired at 61 with £85,000 a year a one off payment of £245,000 and a pension pot of £1.8million! So Love Money when will you be objective asking how much did Sunak take off his own pension and that of civil servants? So much higher than your hated triple lock little pensions?
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In the UK "Women saw a controversially steep rise in their pension age from 60 to 65 in 2018" - this did not happen - it was phased in gradually over several years! And it may have been controversial in some quarters but was surely fair - and frankly something I (woman born mid 1950s) had been expecting since I was in my 20s
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16 September 2021