Sunday, July 10, 2011

Returement Ages of Government Employees across the World

       In India, the age of retirement for Central government employees is currently 60 years. The retirement age for State government employees vary from State to State. For example, in the State of Kerala, the retirement age for government employees is 55 years while in the State of Punjab and the State of Assam it is 60 years. Indian laws do not prescribe any retirement age for private organisations. Thus, private organisations are free to decide the retirement age for their employees, which usually is 58 to 60 years. However, in some business houses the retirement age is more than 60 years. The retirement  ages of Government employees across the world is given below.



Country
Male
Female
Notes
Australia
65
63
Women's pension age will gradually rise to 65 by 2014 and both will increase to 67 in stages between 2017 and 2023
Austria
65
60

Belgium
65
65

Canada
65
65
The normal pension eligibility is age 65 but an early pension can be claimed from age 60
Chile
65
60

Czech Republic
62
61
Retirement age will be increased for men to 63 years from 2016 and for women without children from 2019 and to age 59 to 62 for women with children (depending on number of children they have raised)
Denmark
65
65
Government propose to raise the age to 67 over an eight year period starting in 2017
Finland
63
63
Under the Employees' Pension Act (TYEL) the retirement age is 63 to 68 years
France
60
60
Will be raised to 62 over the next eight years
Germany
65
65
This will increase to age 67 between 2012 and 2029. It is possible in some circumstances to retire at 63 years
Greece
65
60
There are plans to increase women's age to 65 years
Hungary
62
62
Retirement age will increase to age 65 for men from 2018 and for women from 2020
Iceland
65
65
This is for the public sector. The legal retirement age for private sector employees is 67
India
60
60
There is no fixed retirement age for states Government employees. There is a statutory retirement age of 60 for Central Government servants
Ireland
65
65
There is no fixed retirement age for employees. There is a statutory retirement age of generally 65 for some public servants
Italy
65
60

Japan
60
60
The pension age is gradually being increased to 65, between 2001 and 2013 for men and between 2006 and 2018 for women
Korea (Republic of)
60
60
The pension age is being increased grdually and will reach age 65 by 2033
Luxembourg
65
65
Normal retirement age is 65 but early retirement at 57 is possible
Mexico
65
65
Normal retirement age is 65 years but early retirement is available from age 60
Netherlands
65
65
There are plans to increase the retirement age to 67
NewZealand
65
65

Norway
67
67
60% of employees are entitled to early retirement from the age of 62 years under the early retirement plan, AFP
Poland
65
60
There are some professions that are entitled to earlier retirement such as teachers and armed forces
Portugal
65
65
Early retirement is possible in some circumstances from the age of 55 years
Slovakia
62
57
The retirement age for women is currently increasing to 62 years by 2014 so that both sexes will be equalised
Spain
65
65

Sweden
61
61
The retirement age is flexible, state pensions can be claimed from age of 61 years
Switzerland
65
64

Turkey
60
58
There are plans to increase the retirement age in stages from 2035 to age 65 for both men and women
United Kingdom
65
60
The retirement age for women is being increased between 2010 – 2020 to 65 years. State pension will rise to age 66 in 2024, age 67 in 2034 and age 68 in 2044.
United States
66
66
Increasing to age 67 in stages


Courtesy : http://tkbsen.blogspot.com/

No comments:

Post a comment