Retirement is something to look forward to at the end of your career. However, it’s important to note that not everyone retires at the same time. Let’s take a very close look at some real retirement ages around the world.
- South Korea: 73
First and foremost, which country has the latest retirement age? This distinction belongs to South Korea. South Koreans retire at an average age of 73, which is the highest among all developed nations. Considering that this is just an average, many South Koreans are working until they are 75 or even older. The bottom line is, the cultural norm in South Korea encourages working as long as possible.
- South Africa: 60
On the other end of the spectrum, South Africa boasts the lowest retirement age. South Africans retire at an average age of 60, which is pretty early if you think about it. This gives them a chance to pursue other hobbies and enjoy the later years of their life. At the same time, it’s important to note that South African working hours are among the longest you’ll find in the world.
- Australia: 65
Contrary to popular belief, Australians don’t retire as early as some people imagine. Worker laws and standards in the country ensure that careers last for a respectable amount of time. However, once Australians do retire, they are eligible for a number of benefits and retirement plans. This includes people who have moved to Australia specifically for work.
- United States: 67
Finally, the United States lies in the middle of all of the above. With an average retirement age of 67, the United States is a pretty typical first-world nation. Remember that this figure considers all professionals such as teachers, firefighters and technicians. If you are planning to retire in America, your late sixties is a very reasonable age to shoot for.
When all is said and done, real retirement ages around the world may surprise you. The bottom line is, not everyone retires at the same age, and that’s totally fine. When planning for your retirement, consider some of these ages and what is best for you!
