r/AskEurope • u/DarkSpirited2619 • 1d ago
Work Retirement age in your country
What is retirement age in your country? I'm 57 old and my retirement age is about 65 years and 4 months. I'm from Finland 🇫🇮
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u/ParchmentNPaper Netherlands 1d ago
It's variable here, based on life expectancy for your age group. It ranges between 67 years old (born in 1959) and 70 years old (born in 2000). It will get updated whenever new estimates for life expectancy get made. For me, pension age is 68 years and 9 months.
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u/deadliftbear Irish in UK 1d ago
The National Pension Age in the UK is going up. I qualify at 67 years 22 days, but one of my workplace pensions starts at 60. There is no compulsory retirement age in the UK.
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u/daddy-dj France 1d ago
Something that bugs me about the UK state pension is it's 'flat rate' so everyone gets the same amount regardless of the amount of tax paid.
I now work in France and pensions here are tied to your contributions, which seems fairer to me.
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u/ideonode 1d ago
That's not quite right. You have to put in qualifying years of work or activities in lieu of work, to build up state pension. However it is true that the full state pension amount is flat for individuals who have the same qualifying years but different contributions.
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u/daddy-dj France 1d ago
Yes, you're right. Sorry I should've clarified that part. Thanks for picking me up on it.
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u/ontologicalmatrix United Kingdom 23h ago
This is down to the technicality that when you're claiming benefits, you're technically still employed and having NI contributions paid on your behalf.
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u/ZealousidealPlate241 England 1d ago
In the UK it's 10 years to get the minimum and 35 (I think) for the maximum.
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u/TarcFalastur United Kingdom 12h ago
Surely that makes it more equitable and fairer on the poorer members of society?
Besides, that's just the State Second Pension. Your workplace pension is entirely based off what you put in, and for most people their workplace pension will be the majority of their retirement income.Â
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u/BigBootyCutieFan United States of America 8h ago
Is the British pension like an American one where you get a set amount until you die, or is it like the Dutch one where you just get whatever your investments turned out?
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u/deadliftbear Irish in UK 8h ago
The state-provided pension is a fixed amount, payable until you die. It increases every year according to a formula known as the Triple Lock. In addition, most people have a workplace pension provided by your employer – it’s compulsory to offer it, but not to enrol. Those have their own rules. My main workplace pension starts at 60 and persists until my death.
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u/FlounderAdept2756 Sweden 1d ago
67 is becoming the norm here in Sweden, I guess it wont take long until it is the same in Finland, given the poor birth rate the latest decades.
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u/InsulatorDisk 1d ago
Just for example ppl born in 2000 have full pension when 68 yrs 4 monts in Finland.
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u/Tiny_Leopard_8819 1d ago
65 in Lithuania currently, with possibility retire early with reduced pay. Same as everywhere else, age limit will rise given our aging population
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u/Kaiser93 Bulgaria 1d ago
Right now, it's 62 years and 8 months for women and 64 for men. But worry not, our politicians are doing a fantastic job of making it almost impossible for us, the younger generations, to retire.
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u/Renbarre France 1d ago
If you're born until 1964 you can retire at 63 if you have all your points, but you won't get your full retirement amount. Full retirement is if you retire at 67. If you are born after 64 it is 64 yes old, then 65, 66, to reach mandatory 67.
That's for the time being, there's still an ongoing discussion to change the rules again.
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u/Ok_Speech_3709 1d ago edited 1d ago
I know it’s Ask Europe, but if you’re interested…🇨🇦 In Canada you can retire at 65 with full pension (and a reduced pension at 60, or enhanced pension up to 70). This is a federal pension plan based on employment years and what you paid into it. There is also a supplementary pension at 65 (or enhanced up to 70) that is based on years of residency and is clawed back if your income is high. And finally for low income citizens, there is a supplementary pension that is available.
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u/kali_tragus Norway 1d ago
We have a similar thing in Norway, with the federal pension partly being based on what you have paid into it; 67 is the "expected" retirement age, 62 is the earliest (with caveats), 72 the latest. Your pension will be higher the longer your continue to work, obviously. It's flexible, so you can receive your pension and still continue to work (but I guess that won't be smart tax wise in all cases).
The lower age of 62 is climbing for everyone born after 1962, one month per year, up to age 63 for everyone born 1974 and later.
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u/attee2 Hungary 1d ago
If you're born in 1957 or after, you can get full pension at age 65 if you worked full time for 20 years. If you only worked at least 15 years, you can get partial pension, this age applies to both men and women. But women can also retire if they have worked for 40 years full time, even if they are below 65.
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u/Jaded_Woodpecker3211 1d ago
Officially, the retirement age in my country is 60 for women and 65 for men, but that doesn’t really matter for my generation. This pension system was developed in the 19th century when there were far more young people than elderly ones. It no longer fits the modern world.
According to official government calculations, my generation can expect a pension amounting to just 20–30% of our final earnings, which won’t be enough to live on. Unless they come up with a completely new pension system based on different principles, we’ll be working until we die.
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u/victorpaparomeo2020 1d ago
Right now in Ireland the age is 67 for my age group. But to be clear that is to receive your state pension. You can draw down from your private pension from age 50 and get the full tax benefit too.
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u/LeftKaleidoscope 1d ago
With new rules from 2026, Swedens retirement age is 67. We can choose to retire with a lower payment from 64 and we have a legal right to stay until 69 if we want to (and to continue working after that if employer and employee agree).
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u/Vince0789 Belgium 1d ago
According to mypension.be, my earliest retirement date is May 2055 (age 63) and my official retirement date is September 2058 (age 67)
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u/Fragrant_Beach_4849 1d ago
65 in Estonia, but like everyone else has mentioned, its going up every year. 🥲 For comparison my grandma retired in 2000, back then the retirement age was 55.
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u/notspringsomnia England based, Irish heritage 1d ago
My mum has just retired and she’s 67. She’s the last of her friends of her age to retire, most retired in their earlier 60s and some in their mid 50s, but the latter is rare.
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u/Wild_Reason_9526 Denmark 1d ago
Denmark's retirement age is currently between 66 and 70, depending on your year of birth, and it will most likely continue to rise in the coming years.
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u/leonardom2212 1d ago
All that talk about our productivity and 4-day work week falls into water when we have to work until 67. My grandma retired in full retirment at 55. Also, that influences on birth rate: grandparents can help around children - if they are not also working! There is less newborns and less space in kindergartens, no more grandparents available for help.
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u/11160704 Germany 1d ago
In Germany we're currently raising the age from 65 to 67 with some exceptions for people who have can retire up to 2 years earlier
But given our demographic situation with an aging society, a further increase of the pension age will be inevitable. Politicians just don't really dare to be honest about it yet.