How Does the New French Retirement Age Stack Up Globally?
French President Emmanuel Macron used executive powers to raise the government’s minimum retirement age for national pension benefits Tuesday, amid protests inside and outside the chambers.
Thousands of workers went on strike in the days leading up to the decision, as Macron has continued to push for raising the retirement age from 62 to 64.
France’s retirement age–even after being raised to 64–is lower than the typical age people can access government-sponsored retirement benefits in other economies. According to the IMF, the statutory requirement for retirement is most often 65 in Europe.
The average age people retire varies widely globally, with OECD data indicating the average effective labor market exit for men is anywhere from 58.9 to 68.7 years old. Women's ages range from 51.1 to 69.2. The age retirees can receive government benefits is variable as well.
While workers in France fight to keep their current retirement age, workers in other countries may be considering how long they may have to stay at their jobs.
In the United States, workers can begin collecting Social Security retirement benefits at age 62, and your benefit amount increases if you delay collecting.According to government data, nearly 90% of Americans age 65 and older receive a Social Security benefit.
In Canada, early retirement is available as early as 60, while the normal retirement age is 65. In Israel, women can retire at 62 with a state pension, while men must wait until age 67. In Mexico, early retirement begins at 60, while full retirement requires waiting until age 65 to 68, depending on the retirement plan.
Next to France in Germany, early retirement begins at 63.7 years old for some, while the normal retirement age is 65.7. Across
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