by Switzerland’s retirement age of 65 for men and 64 for women puts its state pensioners in the youngest half of OECD retirees. Photo by MART PRODUCTION on Pexels.comThis week, when a Swiss parliamentarian asked in which direction pension reform was heading, he received a written response that said the state pension system could be stabilised from 2030 with a rise in the retirement age to 68 for both men and women, reported the NZZ newspaper. Many nations have already moved in this direction to make pension funding add up as the number of retirees swells. So how does Switzerland compare to other OECD nations? Swiss women get to collect a full state pension 10 years before their counterparts in Denmark eventually will, and Swiss men will get a 9 year head
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Switzerland’s retirement age of 65 for men and 64 for women puts its state pensioners in the youngest half of OECD retirees.
This week, when a Swiss parliamentarian asked in which direction pension reform was heading, he received a written response that said the state pension system could be stabilised from 2030 with a rise in the retirement age to 68 for both men and women, reported the NZZ newspaper. Many nations have already moved in this direction to make pension funding add up as the number of retirees swells.
So how does Switzerland compare to other OECD nations?
Swiss women get to collect a full state pension 10 years before their counterparts in Denmark eventually will, and Swiss men will get a 9 year head start on Danish men. Both men and women in Denmark are on track to qualify for full state pensions at the age of 74, currently the oldest age in the OECD. Denmark’s future retirement age of 74 is an estimate. For anyone born after 1963, the age is currently 68. However, this age will rise in line with life expectancy and is forecast to reach 74 by 2070.
The next oldest are Estonia and Italy, two countries heading towards a gender-neutral retirement age of 71. Both countries have linked the retirement age to life expectancy, which means 71 is an estimated future retirement age. These nations are followed by the Netherlands (69), Finland (68), Portugal (68), Australia (67), Belgium (67), Germany (67), Iceland (67), Norway (67), United Kingdom (67) and the United States (67). All of these nations have universal ages for men and women.
Switzerland is one of only six OECD nations with gender-based retirement ages (65 men, 64 women). The others are Israel (67, 62), Hungary (65, 62), Poland (65, 60), Turkey (65, 63) and Colombia (62,57).
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OECD data (in English)
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