Global Minimum Retirement Age Overview: Some can retire at 57, while others have to wait until 65.

Aren't we all envious of those who can retire early? The difference in retirement ages around the world is outrageous. In the United States, the Social Security retirement age is rising year by year, but these countries are still holding on to the dream of “early retirement.”

The lowest few:

Indonesia: You can retire at 57 (both men and women), although the policy is being raised year by year, reaching 58 in 2024, and increasing by one year every three years, ultimately reaching 65 in 2043.

India: Retirement age is 58-60 years (depending on the industry), but it only covers government sectors and employees of companies with more than 20 people, accounting for only 12% of the national workforce.

Saudi Arabia: Men retire at 58, and women also at 58 (more and more Saudi women are entering the workforce). In 2023, the minimum pension was also increased by 20%.

China: Males at 60 years old, females vary from 55 to 50 years old depending on their job. Those engaged in physical labor can even retire between 45 to 55 years old.

Russia: Men 60 years old, women 55 years old, but there is significant pressure from population aging. The government plans to raise the retirement age to 65 and 60 by 2028, respectively. However, those with sufficient work experience can retire early (men 42 years, women 37 years), but they have to wait until the legal age to receive their pension.

Turkey: 60 years for men and 58 years for women, but it is gradually being raised and will be unified to 65 years by 2044.

Relatively high:

South Africa, Colombia, and Costa Rica are all over 60 years old. Austrian men are 65 years old, and women are 60 years old (the retirement age for women is also being raised to 65 years old).

Key Conditions: Retirement in these countries is not as simple as just retiring; you are required to contribute to the social security system for a certain number of years—ranging from 8 to 42 years. So, do you want to lie flat at 60? You need to start planning from a young age.