Filenews 26 May 2025 - by Theano Thiopoulou
Working until old age seems to be the decision of some states, as they bet on increasing life expectancy and increasing the time to final retirement.
Denmark's parliament on Thursday approved legislation that would gradually raise the retirement age to 70 by 2040, the highest in Europe, sparking debates about the ability to work longer and the long-term sustainability of the pension system amid changing demographics. Today it is 67 years old in Denmark, but it will increase to 68 years in 2030, 69 years old in 2035 and 70 for those born after December 31, 1970.
In 2023, despite strong opposition, French President Emmanuel Macron ratified the bill that provides for the reform of the pension system and the increase of the retirement age by two years, to 64 years, from 62 years in force. It also provides for the right to a full pension after a total of 43 years of work.
Based on the data collected by "F", there is no uniformity in the retirement ages of European countries and it cannot be ignored that there is a general debate that increasing life expectancy increases the retirement age.
In Cyprus, the retirement age is 65 years. Retirement at 63 is possible under certain conditions, if the employee has 33 real and notional credits together but with a 12% deductible from the normal pension. About a year ago, the discussion about a 12% reduction was opened, but for the time being the issue has not progressed.
In Germany, you can retire at the age of 63, but only if you have already contributed to pension funds for 45 years. In Spain, the retirement age is gradually increasing every year and will reach 67 years in 2027. In order to receive a full pension, one must have deductions for more than 35 years, which will increase to 38.5 years in 2027. At the moment, in most European countries, the retirement age is over 65.
In Greece, insured persons can receive a pension at 62 [40 years contributions] or at 67 with at least 15 years of insurance until 2026, according to the current law. From 2027 it is not certain whether the limits will remain the same or whether they will increase according to life expectancy if it rises.
More specifically, the retirement age was the same in the following countries: Cyprus (65 years for men and women), Belgium (65 years for men and women), Luxembourg (65 years for men and women), Hungary (65 years for men and women), Slovenia (65 years for men and women).
There are countries where the retirement age is 67, such as Greece, Italy (one of the highest in Europe, with the exception of Denmark, which applies the age of 67 but gradually increases it). This is followed by Spain (66 years and 4 months for men and women), Ireland (66 years for men and women), the Netherlands (66 years and 10 months for men and women), Portugal (66 years and 4 months for men and women).
This is followed by the group of countries with an age limit of 63 years and a few months: the Czech Republic (63 years and 10 months for men and women), Slovakia (63 years for men and women). A little higher is the retirement age in Germany (65 years and 1 month for men and women), Croatia (65 years for men and 63 years and 3 months for women), Estonia (64 years and 3 months for men and women), Latvia (64 years and 6 months for men and women), Lithuania (64 years and 6 months for men and 64 months for women), Malta (64 years for men and women), Austria (65 years for men and 60 for women), Poland (65 years for men and 60 for women), Romania (65 years for men and 60 for women), Slovenia (65 years for men and women), Finland (64 years and 3 months for men and women.
