{"id":13388,"date":"2025-06-02T19:38:45","date_gmt":"2025-06-02T11:38:45","guid":{"rendered":"https:\/\/dollarsandsense.sg\/business\/?p=13388"},"modified":"2025-06-03T10:31:26","modified_gmt":"2025-06-03T02:31:26","slug":"comparing-the-oldest-retirement-ages-in-the-world-and-where-singaporeans-stand","status":"publish","type":"post","link":"https:\/\/dollarsandsense.sg\/business\/comparing-the-oldest-retirement-ages-in-the-world-and-where-singaporeans-stand\/","title":{"rendered":"Comparing The Oldest Retirement Ages In The World – And Where Singaporeans Stand"},"content":{"rendered":"\n

Singaporeans have one of the oldest life expectancies in the world \u2013 living up to an average of 83.5 years-old. There many perks of being blessed with a long life expectancy, including spending more time with your family and friends, experiencing new and novel sights and sounds, and even being able to leave an even bigger impact in your community.<\/p>\n\n\n\n

One of the potential drawbacks, though, may be having to work longer. Living longer means having to pay for living those extra years, as well as setting aside more for a longer retirement.<\/p>\n\n\n\n

Of course, many who are passionate about the work they do might fight this point.<\/p>\n\n\n\n

While the life expectancy in Singapore is 83.5-years-old today, the retirement age in Singapore is 63. If you raised an eyebrow at this number, you\u2019re not alone. While the retirement age is 63 today, we are only able to receive CPF LIFE payouts \u2013 meant for our retirement years \u2013 when we turn 65.<\/p>\n\n\n\n

The Government has already set the plans in place to align these 2 ages. On 1 July 2026, Singapore\u2019s retirement age will rise to 64, and by about 2030, it will go to 65. Quite unique to Singapore, we also have a re-employment age of 68. Similarly, this will rise to 69 on 1 July 2026 and again to 70 by about 2030.<\/p>\n\n\n\n

Read Also: What Is The Difference Between Retirement Age And Re-Employment Age In Singapore?<\/a><\/em><\/strong><\/p>\n\n\n\n

Longevity is not something unique to Singapore. Populations across the world are living longer, and we look at some of the oldest retirement ages in the world.<\/p>\n\n\n\n

Our Neighbours Up North: Malaysia<\/strong><\/h3>\n\n\n\n

In Malaysia, life expectancy is also rising \u2013 and today, the average life expectancy is 75.2 years-old.<\/p>\n\n\n\n

While the retirement age is currently 60 years-old, it is no surprise that they too are pondering raising the retirement age, for civil servants for a start, to 65<\/a>.<\/p>\n\n\n\n

The Longest Life Expectancy In The World: Japan<\/strong><\/h3>\n\n\n\n

Traditionally, we know Japan has one of the world\u2019s longest life expectancy \u2013 at around 85 years-old.<\/p>\n\n\n\n

While the retirement age in Japan is still 60 years-old, it has passed legislation to facilitate the employment of elderly employees till age 70.<\/p>\n\n\n\n

The Scandinavian Standard: Denmark<\/strong><\/h3>\n\n\n\n

Scandinavian <\/strong>countries are often reported as the happiest and most free countries. In many aspects, the rest of the world have come to accept many Scandinavian standards as best practices. <\/p>\n\n\n\n

In Denmark, we can find one of the oldest retirement ages. Denmark regularly reviews its retirement age every 5 years, and the current retirement age in Denmark is 67 years-old. It has already committed to raising the retirement age<\/a> to 68 in 2030, 69 by 2035, and 70 by 2040.<\/p>\n\n\n\n

The Swiss Standard Of Living: Switzerland<\/strong><\/h3>\n\n\n\n

Popularised by then Prime Minister Goh Chok Tong, many Singaporeans still view the Swiss standard of living as the benchmark for a high quality of life.<\/p>\n\n\n\n

Singaporeans will also be pleased to know that the retirement age in Switzerland is already set at 65 \u2013 something we are still working towards by about 2030.<\/p>\n\n\n\n

The Youngest Retirement Age In The World: Indonesia<\/strong><\/h3>\n\n\n\n

From what we could find online, the country with the youngest retirement age in the world<\/a> is in our backyard \u2013 in Indonesia.<\/p>\n\n\n\n

In 2025, the retirement age in Indonesia is 59 years old, but it is slated to rise as well. In a news report, we found that there are plans in motion to raise the retirement age to 65 by 2043.<\/p>\n\n\n\n

Gender-Differentiated Retirement Age: China<\/strong><\/h3>\n\n\n\n

China is also dealing with an ageing population, and has taken actions to raise their retirement age in recent years. Unlike what we\u2019re used to reading though, China\u2019s retirement age is differentiated based on gender and type of work.<\/p>\n\n\n\n

In 2024, China raised the retirement age for males to 63 years old, from 60 years-old. For females, those in white-collar work saw their retirement age raised to 58, from 55 years-old, while those in blue-collar work had their retirement age raised to 55, from 50 years-old.<\/p>\n\n\n\n

The Global Super Power: USA<\/strong><\/h3>\n\n\n\n

The USA is still the world\u2019s leading super power. While we don\u2019t expect individual countries, with their own demographics, to follow the USA, it is a useful reference point. Afterall, Henry Ford’s 5-day, 40-hour workweek is still a blueprint for the modern working world.<\/p>\n\n\n\n

Currently, the retirement age in the USA is 67, for those born in 1960 and later. For Americans, they have a social security benefit that can start as early as when they turn 62, though.<\/p>\n\n\n\n

Read Also: What Is The Average Working Hours In Singapore For Full-Time And Part-Time Employees<\/a><\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Singaporeans do not have the oldest retirement ages.\n","protected":false},"author":10,"featured_media":13389,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[95],"tags":[2270,1258,1353],"yoast_head":"\nComparing The Oldest Retirement Ages In The World - And Where Singaporeans Stand | DollarsAndSense Business<\/title>\n<meta name=\"description\" content=\"Despite having one of the longest life expectancies in the world, Singaporeans do not have the oldest retirement age.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dollarsandsense.sg\/business\/comparing-the-oldest-retirement-ages-in-the-world-and-where-singaporeans-stand\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Comparing The Oldest Retirement Ages In The World - 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