Yahoo Finance What are the retirement ages around the world? French unions protest over rise
Ring roads were shut and ports blocked across France earlier this month following protests against President Emmanuel Macron after he used an emergency presidential decree to raise the state pension age.
The country was left reeling from a night of violence in major cities including Paris, where there were 216 arrests, mainly for violent-order offences.
By 9am on Friday, March 17, the Paris ring road, the port of Calais and numerous oil refineries were shut down. This came after unions and protesters sought to bring France to a standstill.
It was estimated that more than one million were involved in the rallies.
Train and metro services, including the Eurostar, were also cancelled, with many schools closed.
Mr Macron forced through legislation to raise the state pension age from 62 to 64 — but what are the highest and lowest pension ages around the world?
What are the highest and lowest pension ages around the world?
In 2019, the latest period for which comparable data is available, the average retirement age in Organisation for Economic Co-operation and Development (Oecd) countries was 64 years. The Oecd is an intergovernmental organisation with 38 member countries, including the US and the UK.
Highest pension ages
Greece is among the countries with the highest retirement age in the world: 67 for men and women. Workers can claim full pension benefits only if they have contributed to the pension plan for at least 15 years (equivalent to 4,500 working days).
Denmark, Iceland, Israel, and Italy also have retirement ages of 67.
For anyone born in 1960 and later, the US Social Security Administration states that the current retirement age in the US is also 67.
Americans’ retirement age is 66 if they were born between 1943 and 1954, and 66-and-a-half if they were born in 1955. Starting in 1955, the retirement age gradually rises by two months a year until 1959.
The current retirement age in Ireland is 66.
Lowest pension ages
Only four countries have a state retirement age below 60 years old.
Sri Lanka has one of the lowest pension ages in the world, with workers able to clock off at 55.
Indonesia and Nepal follow closely behind, with retirement ages of 58.
In fourth place is Bangladesh, with a pension age of 59.
What is the current retirement age in the UK?
The current state pension retirement age in the UK is 66.
The state pension age was due to rise due to 68 from 2044. However, Work and Pensions Secretary Mel Stride is expected to tell the Commons today (Thursday, March 30) that plans to bring forward the age increase have been scrapped.
He is reportedly set to tell MPs that “now is not the time” to disrupt the retirement plans of millions.
A previous Government review in 2017 had suggested the the state pension age could rise to 68 by 2039, but campaigners warned that would plunge tens of thousands of older workers into poverty.
A phased increase in state pension age from 66 to 67 by 2028, is already planned.
You can keep working after you reach the state pension age in the UK.
