Which Countries Have the Youngest Average Retirement Age? A Global Comparison

When it comes to retiring early, the definition varies dramatically across the globe. While many developed nations are pushing retirement ages upward due to aging populations and pension pressures, several countries still allow workers to leave the workforce at surprisingly young ages. Understanding which countries have the youngest retirement age options and how their pension systems work can provide valuable insights into the diversity of retirement policies worldwide.

The Lowest Retirement Ages Across Continents

Several nations stand out for maintaining retirement ages that would be considered unusually low by Western standards. Indonesia leads with one of the most accessible retirement scenarios—both men and women can retire at age 57. However, this won’t remain the case indefinitely. The Indonesian government has implemented a gradual increase, with retirement age rising to 58 in 2024, and subsequently increasing by one year every three years until reaching 65 in 2043. Workers in Indonesia’s private sector contribute to the state-run social security program, and upon retirement, they can choose between receiving a lump sum payment or combining a partial lump sum with ongoing periodic payments.

India presents a more nuanced picture. While the general retirement age for men and women typically falls between 58 to 60 years depending on their employment sector, government workers in Kerala saw their retirement age adjusted to 60 in 2020—a precedent that other states have begun following. Central government employees currently transition to retirement at age 60. India’s pension structure accommodates multiple pathways: the Employees’ Pension Scheme requires workers to be 58 years old with minimum ten-year contributions, while the Employees Provident Fund is more accessible, requiring only age 55 with corresponding contributions. These programs predominantly cover government employees and those working for companies with 20+ staff, representing approximately 12% of India’s total workforce.

Saudi Arabia maintains a retirement age of 58 for both men and women, reflecting evolving workplace demographics as women increasingly participate in the labor force. The Saudi pension system operates as a mandatory public program where workers can begin drawing benefits at 58 with at least 120 months of contributions, or at any age with 300 months of service. In 2023, the Saudi government increased minimum pensions by 20%, demonstrating commitment to supporting retirees.

Understanding Different Retirement Structures Globally

China’s approach to determining retirement ages shows considerable variation based on job type. Men working in most sectors retire at 60, while women in white-collar positions retire at 55 and those in blue-collar work retire at 50. Jobs involving physical labor provide even earlier exit opportunities—women can retire at 45 and men at 55. China operates two distinct pension models: the basic pension provides 1% of average wage for each coverage year (requiring minimum 15-year contributions), while the defined contribution pension requires workers to contribute 8% of annual wages to individual accounts, with retirement benefits calculated based on age and national life expectancy projections.

Russia maintains ages of 60 for men and 55 for women, though this system faces significant strain as the population ages. The government has announced plans to increase these thresholds to 65 for men and 60 for women by 2028. Early retirement remains possible for workers with exceptionally long careers—men with 42 years and women with 37 years of service—though pension collection cannot begin until reaching the standard retirement ages. All Russian workers fund the social security system and must have contributed for at least eight years before claiming benefits.

Turkey currently allows men to retire at 60 and women at 58. Recent reforms have created additional pathways: those who enrolled in the social insurance program by September 8, 1999 can now access pensions upon completing specific contribution thresholds (25 years for men, 20 years for women). This reform responded to significant changes enacted in 1999 without transitional provisions. Turkey is implementing a gradual increase in retirement ages that will reach 65 for all workers by 2044.

South Africa and Colombia offer different frameworks. South African men and women can receive pensions at age 60 through a means-tested public program called the “older person’s grant,” available to citizens aged 60+ with limited income and assets. Additionally, voluntary private pension options exist. Colombia permits men to retire at 62 and women at 57, with workers able to choose between public pay-as-you-go systems or private individual plans, switching between them every five years until 10 years before planned retirement.

Geographic Variations and Pension System Models

Costa Rica sets retirement at 65 for both genders, requiring 300 months (25 years) of contributions for full pensions, though proportional pensions are available after 180 months (15 years). Supplementary pensions through individual accounts and voluntary defined contribution personal pensions provide additional security.

Austria maintains a structured approach where men retire at 65 and women currently at 60, though women’s retirement age will gradually increase to 65 by 2033. The Austrian system functions as a defined benefit program, available to those with at least 180 months of contributions, with income supports provided for low-earning retirees.

The Global Trend: Why Many Countries Are Raising Retirement Ages

A critical pattern emerges across the globe: even countries with traditionally young retirement ages are gradually increasing these thresholds. This reflects universal challenges including extended life expectancy, shrinking worker-to-retiree ratios, and pressures on pension fund sustainability. While some nations maintain what appear to be generous retirement provisions, most are implementing transition strategies that will push retirement ages upward over coming decades.

Planning for Early Retirement: Practical Considerations

For those considering retirement in any of these countries, several important factors require attention. Successfully accessing retirement benefits and pensions in these nations typically demands prior workforce participation and consistent contributions to designated retirement systems. The distinction between defined contribution plans—where workers pay set percentages of earnings toward retirees’ benefits distributed based on years of service and age—and defined benefit plans that guarantee specific benefit levels matters significantly when evaluating retirement security.

The youngest retirement age opportunities worldwide exist, but they come with conditions. Planning ahead, understanding your target country’s specific requirements, and beginning contributions early remain essential for anyone serious about retiring at these younger ages.