Recently, I’ve been researching the differences in global pension systems and found that many people are curious about which country has the youngest retirement age. After digging through some data, it’s quite interesting.

Indonesia currently allows retirement at age 57, but they are gradually raising this age, and by 2043 it will be increased to 65. India’s situation is more complex, depending on the sector you work in, generally between 58 and 60. In Saudi Arabia, both men and women retire at age 58, and in 2023 they also increased the minimum pension by 20%.

China’s rules are more detailed: men retire at 60, while women retire at 55 if they are white-collar workers and at 50 if they are blue-collar workers. Some physically demanding jobs allow women to retire at 45 and men at 55. Russia currently allows men to retire at 60 and women at 55, but the government plans to raise these ages to 65 and 60 respectively by 2028.

Turkey’s current retirement ages are 60 for men and 58 for women, but they are also gradually adjusting. South Africa has a uniform retirement age of 60. Colombia’s retirement age is 62 for men and 57 for women. Costa Rica and Austria tend to have later retirement ages, around 65.

Among these countries, Indonesia’s 57 years is indeed the youngest right now, but the key point is that each country’s pension system and contribution requirements are different. Some have fixed benefit schemes, others are contribution-based, and some require a minimum number of contribution years to qualify. For example, India covers only 12% of the workforce, while China requires at least 15 years of contributions to receive basic pension benefits.

If you want to retire early in these countries, it’s essential to plan your contribution years in advance. Many people are tempted by the younger retirement ages, but without enough contribution records, it’s impossible. So, if you really want to find out which country is the best fit for your retirement plan, you need to consider your work nature and contribution capacity. Recently, I’ve also been following some asset allocation topics related to retirement on Gate, and it seems that more and more people are paying attention to this area.