Ryan FowlerAccording to a recent study by AgeCalculator.com analysing OECD data from 2000 to 2020, the UK has experienced the twenty-second highest increase in retirement age among surveyed countries, with a 4.45% rise. This places it ahead of the USA, which ranks twenty-eighth with a 4.01% increase. The study highlights significant shifts in retirement ages globally, influenced by factors such as longer life expectancy and economic pressures.
Bulgaria leads with the most substantial increase at 13.26%, with the average retirement age rising from 56 in 2000 to 63 in 2020. Eastern European countries dominate the top spots, with Estonia and Latvia following Bulgaria with increases of 11.93% and 10.57% respectively. Notably, New Zealand represents the highest retirement age among the top ten and the only non-European country in this group, having increased from 61 to 67 years.
The study reflects broader global trends, with aging populations and declining birth rates affecting retirement norms. “The trend of retirement age increasing across many nations reflects a complex interplay of various factors,” a spokesperson from AgeCalculator.com stated. These include advancements in healthcare and economic challenges that necessitate longer working lives.
