Contents
The recent pension reform has excited Russians. The retirement age for Russian citizens has been raised. And immediately for a significant number of years. Now women will be sent to retire 8 years later, and men 5 years later. The weaker sex go on a well-deserved rest at 63, and the strong at 65. But it turns out that this is not yet the highest retirement age. It is set in each country individually. The retirement age depends on the economic situation in the country. But the average life expectancy of its citizens has an even greater impact. Below is a list of countries with the highest retirement age.
10 Switzerland | M – 65 years old, F – 64 years old
The pension system in the country has been operating since 1972, since then there have been no special changes in it. There were only minor jumps in the retirement age. In 2018, it is 65 for men and 64 for women. But in the legislature of the country, disputes about increasing the retirement age do not subside. This is explained by the fact that one fifth of the total population of Switzerland are people 64-65 years old. The burden on able-bodied citizens to ensure pension payments is very high. Although the state is only responsible for providing the insurance part of the pension, this amount is minimal and available to everyone. If a person wants to receive a decent pension, he must take care of it himself. There are many additional ways and individual offers for the formation of payments.
9. Sweden | 65 years old
The retirement age in Sweden is 65. It was installed back in 1976. Then he was 67 years old, the government decided to lower it by 2 years. The country has the opportunity to take a well-deserved rest earlier, at the age of 61. In this case, the pension will consist of income and bonus parts. Nevertheless, the Swedes are in no hurry to rest and continue to work until the age of 65, when the amount of payments will be much higher. At the age of 65, an employee may not quit, but work until the age of 67. But when he reaches this age, the employer can fire him. A bill is currently being considered to increase the age limit for workers to 69.
8. Canada | 65 years old
In Canada, both men and women retire at 65. To receive it, you must meet certain conditions. The state pension is due only to those citizens whose period of residence in Canada exceeds 10 years, but only after entering working age. Its value depends on the duration of residence in the country and, of course, on the amount of income. Pension fund contributions are mandatory for all working Canadians. The amount of the pension contribution is determined as a fixed percentage of the employee’s salary. It is paid in equal parts by the employee and the employer. Entrepreneurs and self-employed citizens pay contributions in full.
7. Germany | 65 years and 7 months
The age at which people retire in Germany is 65 years and 7 months, without distinction by gender. Now the country is undergoing a gradual increase in the pension threshold from 65 to 67 years. This process takes place in stages from 2012 to 2029, until 2024 the pension threshold is raised annually by a month, after 2024 by two. Citizens who have worked for 43 years or more have the opportunity to retire at 63. In Germany, there are many retirement options for certain categories of citizens. Usually they leave early in case of loss of working capacity, unemployment or liquidation of the organization.
6. Italy | 66 years and 7 months
In Italy, older people retire at 66 years and 7 months. This retirement age was set in January 2018. And a few years ago, its borders were lower. Not surprisingly, the pension threshold is expected to increase again in 2019 as the country’s population ages. However, the Italians have the opportunity to go on a well-deserved rest early. The system provides for such cases. But only new pensioners receive a fine – they are deprived of some part of their pension savings. Pension in Italy is funded. There is public and private provision. Non-working citizens can also count on pensions.
5. Spain | 67 years old
In Spain, the retirement age of 67 is the same for men and women. Although until recently it did not exceed 65. Life expectancy here is the highest. Birth and death rates are low. There is a trend of demographic aging of the population. If this continues, there will be no one to support pensioners. Therefore, financiers in Spain are arguing not about whether to raise the pension threshold, but about how much and under what conditions. Most older people in Spain choose to continue working in retirement. In this case, they receive part of the pension payments, as well as various benefits for medical services and medicines.
4. USA | 67 years old
In the US, you can retire at 67. But this is only a suggested period. Every American decides for himself when to retire. But people under the age of 62 cannot apply for payments. There must be good reasons for their registration at this age: illness, reduction due to the liquidation of the company. In this case, a certain part of the pension will be paid. This option is chosen by 50% of Americans. You can retire at the age of 70, this is the most profitable from a financial point of view. For police and military, the retirement age is different from the generally accepted one, it comes much earlier. True, most of them continue to work and build a career in these structures.
3. Norway | 67 years old
In Norway, the retirement age is 67 for both men and women. The average life expectancy here reaches 90 years. Norway is considered the country with the most transparent social system. Here are the best conditions for the elderly. Employees of some enterprises retire at the age of 62. The amount of pension payments for Norwegians depends on many factors: length of service, marital status and salary. In addition, they are provided with benefits for travel, for attending cultural events. Medicine for them is also completely free.
2. Denmark | 67 years old
In Denmark, the retirement age is 67, although until recently it was two years lower. There is an opportunity to retire early for people who are in the age group of 60-66 years. Pensions here are not paid to all citizens. To obtain it, you need to meet a number of conditions: to have citizenship, to live in Denmark all the time, and the period of residence must exceed three years. The pension consists of two parts. The base part is a certain amount, it is the same for everyone, pension supplements are paid depending on the income of a citizen, his position. A full state pension is paid only to those citizens whose period of residence exceeds 40 years in this country. Employees are required to pay contributions to pension funds, then this money is included in their pension.
1. Japan | 70 years old
In Japan, the retirement age is 70 for men and women. As elsewhere, citizens have the right to reduce this period, but to the detriment of the amount of payments. Every Japanese is assigned a basic pension. It can be obtained upon reaching the age of 65 years. Some Japanese people retire even earlier, at age 60, when the pension is cut by another 25%. In addition, employees pay contributions, this is compulsory pension insurance. Often in Japan, pensioners have to earn extra money, the basic pension is not enough. Those who worked up to 70 years old and regularly made contributions can count on a decent pension. Average life expectancy is 84 years. The working-age population is getting smaller, and the number of citizens on the provision is increasing.