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Chart Retirement is a weekly snapshot retire– related data.
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Many countries have raised the normal retirement age to reflect longer lifespans.AscentXmedia/iStockPhoto/Getty Images
The Organization for Economic Co-operation and Development defines a country-specific normal retirement age as the earliest age at which people can retire with impunity under that country’s social security scheme. For example, in Canada this would apply to the CPP/QPP and Old Age Security. Many countries have raised the normal retirement age to reflect longer lifespans. Later retirement ages are often phased in over many years to give people a chance to adjust. The chart shows the final normal retirement age after each country’s “gradual transition” is complete. For example, the normal retirement age in the US won’t be 67 until 2027. Canada, which insists on 65, is about to become an exception.
Normal retirement age in OECD countries
Globe and Mail, Source: frederick vettese; OECD Pensions
Overview, 2021
Normal retirement age in OECD countries
The Globe and Mail, Sources: frderick vcettese; OECD Pensions
Overview, 2021
Normal retirement age in OECD countries
Globe and Mail, Source: frederick vettese; OECD Pensions at a Glance, 2021
Frederick Vettese is the former Chief Actuary of Morneau Shepell and the lifetime retirement income.