Prevailing Retirement Ages

Prevailing Retirement Ages - What are They?

Retirement ages differ from person to person and from country to country. You may retire whenever you want – as long as you have made adequate financial provision for your retirement.

Your country's tax laws or state old-age pension rules might set an age when you can retire without having to pay a penalty or receive reduced benefits.

These laws and rules normally set an age for early retirement and another age for normal retirement. In some countries these ages even differ for males and females. These ages generally range between 55 and 70.

During my lifetime the age for normal retirement has increased. It used to be age 60, then it was increased to age 65, and at the present time to receive unreduced benefits the age is gradually increasing to age 67.

And the rules for compulsory retirement have been relaxed too. Most employers would allow you to stay on in your employment when you reach the age for retirement. You may also semi-retire by reducing your work hours.

Your health status typically influence your decision when to retire. Declining health over time, as well as the onset of new health conditions, often justify earlier retirement.

The smart thing to do is to educate yourself and to eliminate any uncertainty. On this Web site we try to provide you with enough retirement planning information to enable you to make informed decisions and to retain control of your retirement planning.

Visit the various discussions on this Web site. Learn from the experience of others. In particular, work through our discussion on retirement financial planning and early retirement planning.

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