Top 5 Countries with the Highest Official Retirement Age

Retirement is a major life change when people stop working and start receiving a pension or other benefits. Around the world, the age at which this happens varies a lot. 

Factors such as how long people live, how many choose to work later in life, and how strong each country’s pension system is all play a part. 

As populations get older and governments face more strain on pension funds, many countries have raised their official retirement ages. 

Below, we look at the five places where people generally work the longest before retiring.

Libya

In Libya, men and women both must retire at age 70—the highest official age anywhere. This late retirement age helps keep skilled workers in the workforce longer and eases pressure on Libya’s pension system.

Although some people leave work earlier for special rules or their own reasons, the law still sets retirement at 70, showing how Libya is handling its ageing population and economic needs.

Italy

In Italy, both men and women now retire at age 67. Over recent years, the government has slowly increased the age to keep the pension system from running out of money as Italians live longer.

Asking people to work until 67 helps pay for pensions, but it also raises questions about keeping a good balance between work and personal life as people move into their late sixties.

Australia

Australia raised its retirement age to 67 in July 2023 to match rising life expectancies. By having people work longer, Australia aims to keep its strong pension system funded and encourage older citizens to stay active at work. This change is part of a plan to make sure pensions remain available as people live longer.

Netherlands

The Netherlands sets its retirement age at 67, but it also plans to raise this age automatically when life expectancy goes up.

This clear, data-based method means the retirement age keeps pace with how long people live. Combined with solid workplace pension plans, this approach helps the Netherlands maintain a reliable and sustainable retirement system.

Denmark

Denmark also has a retirement age of 67, with plans to adjust it based on average life spans. By tracking how long people live, Danish leaders can raise the retirement age step by step.

This system balances the need to support retirees with the goal of keeping pensions fair and sustainable.

Iceland

Iceland, like Denmark and the Netherlands, sets retirement at 67 and plans to review this age as people live longer. This reflects a wider Nordic practice of linking retirement ages to life expectancy.