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Life expectancy and years spent in retirement are rising across Europe. In response, many countries are increasing retirement ages. Denmark has already decided to raise the retirement age to 70 by 2040. Several other European countries have also passed laws to raise pension ages in the coming years. According to the OECD, Denmark will lead by 2060, with people retiring at age 74.

So, what are the current and projected retirement ages across Europe? Which countries have the highest retirement ages? Is there a gender gap in retirement ages? How will the retirement age differ between those retiring today and those just entering the workforce?

Euronews takes a closer look at retirement ages and future trends in Europe, based on the OECD’s Pensions at a Glance report. 

As of 2022, the statutory retirement age for men in the EU ranged from 62 to 67, while for women it ranged from 60 to 67. When including the UK, EFTA countries, and EU candidate Turkey, Turkey stands out as a significant outlier, with retirement ages of just 49 for women and 52 for men. 

The average retirement age in the EU is 64.7 for men and 63.8 for women.

Nordic countries have the highest retirement ages

Three Nordic countries—Denmark, Norway, and Iceland—have the highest retirement age at 67 for both men and women. The retirement age is also above 65 in several other countries, including the Netherlands (66.6), the UK and Ireland (both 66), Germany (65.8), and Portugal (65.6).

Other countries with a retirement age of 65 include Austria, Poland, Romania, Hungary, Croatia, Switzerland, Belgium, Italy, Spain, and Cyprus.

Among Europe’s five largest economies, France has the lowest retirement age at 64.8—but the difference is marginal. However, according to the 2024 Ageing Report, people in France can retire once they reach the minimum retirement age—62 for those born up to 1960, and 64 for those born in 1968 or later.

When Turkey is excluded, Greece, Luxembourg, and Slovenia have the lowest retirement age for men in the list—and in the EU—at 62. Women in these countries also retire at 62. However, the lowest retirement age for women is found in Austria and Poland, where it is 60.

Gender gap in retirement ages

In 23 countries, men and women retire at the same age, showing no gender gap. In the remaining nine countries, men have a higher retirement age. The largest gaps are in Austria and Poland, where men retire five years later than women. The difference is also three years or more in Romania, Hungary, and Turkey. 

In the EU overall, the gender gap in the retirement age is 0.9 years.

Future retirement ages by 2060

According to the OECD, “based on established links between the retirement age and life expectancy,” the retirement age is projected to increase in 20 countries for men and in 24 countries for women out of the 32 analysed in Europe. Some are also based on already legislated measures.

Future normal retirement ages for those entering the labour market in 2022 are projected to range from 62 to 74 for men, and from 60 to 74 for women by 2060.

The EU average is expected to reach 66.7 for men and 66.4 for women.

Retirement age to reach 74 in Denmark by 2060

Denmark is expected to have the highest retirement age by 2060, with both men and women retiring at 74. 

Italy and Estonia are set to follow at 71, while the Netherlands, Sweden, and Cyprus are projected to reach 70.

The future retirement age is 69 in Finland and Slovakia, closely followed by 68 in Portugal.

Five countries—including the UK, Germany, Belgium, Norway, and Iceland—have a future retirement age of 67. It will also exceed 65 in Ireland and Greece, reaching 66. 

This shows that all Nordic countries will rank among the highest, with retirement ages above the EU average. 

According to the Finnish Centre for Pensions, several countries have already updated their retirement ages, with increases scheduled in the near future. For example, Belgium will raise its retirement age to 67 by 2030, Denmark to 69 by 2035, and the UK to 68 by 2046.

Any gender gap in future retirement ages?

Slovenia and Luxembourg will have the lowest retirement age for men at 62 among those entering the labour market in 2022, while Poland will have the lowest for women at 60.

In fourteen countries, the future retirement age is 65 for men, although it remains lower for women in some of these countries.

By 2060, the gender gap in retirement age will almost disappear across Europe, remaining only in Poland, Hungary, Romania, and Turkey.

Where will retirement ages rise the most?

When comparing 2022 retirees with those entering the labour market in 2022, Turkey will see the largest increase in retirement age—13 years for men and 14 years for women. 

In Denmark, the increase will be 7 years for both. As of 2021, Denmark ranked second in the EU for average pension expenditure per beneficiary, both in nominal terms and when adjusted for purchasing power standards (PPS).

Estonia, Slovakia, Italy, Sweden, and Cyprus are also expected to raise retirement ages by 5 years or more by 2060.

Retirement ages may vary for early entrants to the workforce or individuals with specific circumstances. 

Pensions in the EU typically amount to around 60% of late-career earnings. In many European countries, however, this rate drops below 50%, making it increasingly difficult for pensioners to maintain a decent standard of living.