Top 5 countries with the highest retirement age
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By Patrick Igwe
Retirement age marks an important milestone in a person’s working life—the point in many countries where an individual steps away from formal employment after years of contribution.
Around the world, this age varies depending on things like how long people are expected to live, how many are active in the workforce, and how strong a country’s pension system is.
While most countries set retirement between 60 and 65, many are now pushing it higher to keep up with aging populations and growing financial demands on social systems.
Below are the top five countries where people retire the latest on average:
Libya – 70 (Men and Women)
Libya has the highest retirement age in the world, with both men and women officially retiring at 70. This unusually high age reflects the country’s policy structure, though real-world retirements may differ depending on the sector and individual circumstances.
Italy – 67 (Men and Women)
Italy has one of the highest retirement ages in Europe, set at 67 for both genders. The government has progressively increased the age to manage pension system sustainability amid an aging population.
Australia – 67 (Men and Women)
In Australia, the retirement age was raised to 67 as part of long-term reforms to support the country’s growing life expectancy and to ensure the pension system remains viable.
Netherlands – 67 (Men and Women)
The Dutch retirement age is currently 67, with further adjustments tied to life expectancy forecasts. The Netherlands has a robust state pension system backed by occupational pensions, requiring a later exit from the workforce.
Denmark – 67 (Men and Women)
Denmark also ranks among countries with the highest official retirement age. The Danish government ties retirement age to life expectancy, ensuring the pension system adapts to demographic changes over time.
Iceland also has a retirement age of 67 for both men and women and could be considered a joint fifth.
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