The World's Youngest Retirement Ages: A Global Snapshot of Early Retirement Systems

While retirement at 65 remains standard in many developed nations, a handful of countries still offer some of the world’s youngest retirement age options. Yet even these nations are responding to demographic pressures by gradually raising their retirement thresholds. Here’s a closer look at where people can leave the workforce earliest—and how these systems are evolving.

The 55-58 Year Old Retirement Zone: Southeast Asia and South Asia Lead

Several countries in Asia have maintained relatively early retirement ages, though most are transitioning toward higher ages.

Indonesia currently allows both men and women to retire at 57, but this is changing. The retirement age will climb to 58 in 2024 and rise by one additional year every three years until reaching 65 by 2043. Private sector workers pay into the state-run social security program and can choose between a lump sum payment or periodic distributions at retirement.

India offers retirement at 58 to 60 years depending on employment sector. Government workers in Kerala saw their retirement age increase to 60 in 2020, a pattern other states have begun following. Central government employees currently retire at 60. India’s dual pension structure includes the Employees’ Pension Scheme (requiring age 58 with 10 years of contributions) and the Employees Provident Fund (requiring age 55), though these programs only cover about 12% of the workforce—mainly government employees and those at companies with 20+ workers.

Saudi Arabia permits men and women to retire at 58 under its mandatory public pension system. To access benefits, workers need 120 months of contributions at age 58, or 300 months at any age. The kingdom raised its minimum pension by 20% in 2023, reflecting efforts to support retirees.

The 60-Year Retirement Threshold: Eastern Europe, Africa, and Latin America

A broader group of nations clusters around the 60-year mark for retirement.

China maintains different ages by gender and occupation: men retire at 60, while women in white-collar roles retire at 55 and those in blue-collar positions at 50. Certain physically demanding jobs allow retirement as early as 45 for women or 55 for men. The pension system operates two tracks—a basic pension providing 1% of average wages per contribution year (minimum 15 years) and a defined contribution model where workers pay 8% of wages into individual accounts adjusted by age and national life expectancy.

Russia currently allows men to retire at 60 and women at 55, though the government plans to raise these to 65 and 60 respectively by 2028 to address population aging. Early retirement is possible for those meeting stricter work duration requirements (42 years for men, 37 for women), but pension claims cannot begin until the standard ages. All workers contribute to the social security system and must have paid in for at least eight years to qualify.

Turkey presently allows men to retire at 60 and women at 58, with significant changes underway. A 2023 reform enabled workers enrolled by September 1999 to claim pensions upon meeting specific contribution thresholds (25 years for men, 20 for women). Turkey is gradually raising its full retirement age to 65 for both genders by 2044.

South Africa sets its public pension age at 60 for both men and women through a means-tested system—citizens age 60+ with limited income and assets qualify for an “older person’s grant.” Private voluntary pensions supplement this public foundation.

Colombia permits men to retire at 62 and women at 57 through two parallel systems: a public pay-as-you-go plan and private individual accounts. Workers can switch between systems every five years until ten years before retirement but cannot participate in both simultaneously.

The 65-Year Standard and Beyond: North and South America, Central Europe

Costa Rica requires both men and women to reach 65 for standard old-age pensions, provided they’ve contributed for 300 months (25 years). Those with 15-25 years of contributions receive proportional pensions. Additional layers include supplementary pensions through individual accounts and voluntary defined contribution plans.

Austria currently sets retirement at 65 for men and 60 for women, though women’s retirement age will gradually climb to 65 by 2033. The defined benefit pension system requires 180 months of contributions, with low-income retirees receiving supplementary payments to reach minimum income thresholds.

The Global Trend: Rising Ages Despite Early Thresholds

A critical pattern emerges across all these nations: the world’s youngest retirement ages in the world are climbing. Population aging, healthcare cost pressures, and fiscal sustainability concerns are driving governments to gradually increase retirement thresholds. Indonesia, Russia, Turkey, and Austria all have explicit plans to raise retirement ages significantly over the coming decades.

These early retirement opportunities typically come with trade-offs. Longer contribution periods are often required, pension calculations may favor later retirement, and government programs frequently cover only formal sector workers—excluding self-employed and informal economy participants.

For those considering retirement in these countries, planning ahead is essential. Most pension systems require a minimum contribution history before benefits become accessible, and attempting to retire early often means permanently reduced pension amounts. Understanding these systems’ specifics—contribution requirements, pension calculations, and future planned changes—is crucial for making informed retirement decisions.