Retirement and Age around the world

The people in Russia are angry that the retirement age for women is being raised from 55 to 63 and for men, it is rising from 60 to 65. This is a big upheaval and change in their society. As I was reading about the unrest, I thought what is seen as the official age to retire around the world. I found a site https://aperioncare.com/blog/retirement-age-around-world/ that has an interactive map that shows the retirement age in different countries. 

I found these two facts interesting first, we in Canada and the United States retire up to 8 years later than workers in China. Second, the country with the lowest age of retirement is the United Arab Emirates, age 49 to the highest Norway age 67. 

The bottom line is that every country is either raising or thinking about raising the retirement age. The reason is that people are getting healthier, and living longer. As a result, people need to be supported for a longer period and the governments which think in short-term thinking (the next election cycle) believe that without increasing funding the pension systems will at some point, that just becomes unsustainable.

Here are a few countries that may be of interest to my readers. For your own country go to the map in the link.

Official Retirement in:

The USA 

Official retirement age is  65 for those born before 1938; gradually increases to 67 for those born after 1959. 

Canada 

Official retirement age is 65

Russia 

Official retirement age is 57.5 years old

Germany

Official Retirement Age is  65.4 years old

France