A recent study debunks the myth that Europeans retire earlier than people in other parts of the world, showing the pension age in the EU is actually rising.
A recent investigation by 'Euranet' challenges the widespread belief that individuals in Europe retire earlier than in other regions globally. This notion has been used to criticize Europe's ageing population, claiming it places additional pressure on national economies and threatens the sustainability of pension systems. However, data from 'Eurostat' indicates that the average retirement age in the European Union (EU) as of 2023 is 61.3 years. Notably, this figure represents a significant increase from 59.2 years in 2012, demonstrating a clear trend towards later retirement in Europe.
The average retirement age varies across EU member states, with Slovenia recording the lowest at 58.3 years and Denmark the highest at 65.7 years. Latvia, while slightly below the EU average at 61.2 years, showcases the regional diversity in retirement ages. The rising trend in retirement age not only counters claims of early retirement but also reflects broader demographic changes, highlighting a shift in societal expectations and economic conditions surrounding retirement.
In conclusion, the findings from 'Euranet' underscore the importance of relying on factual data rather than assumptions when discussing retirement policies and their implications for the economy. As the retirement age continues to rise, it challenges the narrative surrounding Europe's pension systems and emphasizes the need for ongoing public discourse about the implications of an ageing population on economic structures and social systems.
