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Jul 3, 2012

OECD: Official Versus Effective Retirement Age

The official retirement age is rarely equal to the effective retirement age, the average age the people actually retire. As you can see in this chart the official retirement age can be both higher and lower than the effective retirement age. What is the same for all countries is that the life expectancy was raised and that (assuming an equal or declining birth rate) the work force needs to finance more elderly people. A very reasonable option to do that is by raising the effective retirement age (with the official retirement age).

Japan and Sweden had the highest effective retirement age in 2010, while Austria, France and Belgium (and not Greece) had the lowest effective retirement age.

The Economist

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