Saturday, July 28, 2007

Retiring in Europe

In Norway you retire, according to the law, when you are 67 years old.
Of course not everybody can or want to work till then.
There is something called AFP (avtalefestet pensjon), a possibility to retire at the age of 62.
I do not know who can do this and how it is done.
I imagine it is an arrangement for those who have worked for many, many years in Norway, who can retire at 62, but who will receive a lower pension than if they had worked till the age of 67.

The age of retirement according to the law, may perhaps differ in European countries (I don't know), but when do the average Europeans retire in practical terms?
It turns out Norwegians stay at work the longest, retiring on the average at the age of 64, with the Swedes right behind them with 63.7 years.
Here is the list, according to the Norwegian daily Aftenposten :
Norway 64
Sweden 63.7
Portugal 63.1
Great Britain 62.6
Spain 62.4
Greece 61.7
The Netherlands 61.5
Germany 61.3
Denmark 60.9
Belgium 60.6
Italy 59.7
France 58.8

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