The eligibility rules to retire and withdraw a pension benefit are complex and often reflect conflicting objectives. This is all reflected in the different criteria for each scheme. The 2024 average normal retirement age across OECD countries for an individual with a full career and who entered the labour market at age 22 was equal to 63.9 years for women and 64.7 years for men. Türkiye is an outlier with a normal retirement age of 49 and 52 for women and men, respectively. Except for Türkiye, the lowest ages are 57 for women in Colombia and 62 for men in Colombia, Luxembourg and Slovenia. Denmark, Iceland, Norway and, for men only, Israel have the highest normal age of 67. Nine OECD countries have a lower normal retirement age for women than for men. The largest gender difference of five years in Colombia, Israel and Poland.
Pensions at a Glance 2025
In many OECD countries, rules differ across pension components. As defined by the OECD, the normal retirement age (NRA) is the eligibility age to pensions without penalty in all schemes combined after a full career from age 22. Where retirement ages differ across schemes the maximum thus defines the NRA of the country.
Table 3.5 shows the rules for both normal and early retirement for mandatory pension schemes. In some schemes, a pension can be claimed earlier than the normal retirement age, from the “early” retirement age onwards, implying benefit penalties.
Early age
The early retirement age is the first age at which a pension can be claimed (Table 3.5). It is generally not possible to retire before the standard statutory age within residence‑based basic pensions or for safety-net benefits.
Most DB and points schemes specify an early retirement age, commonly between two and five years below the normal statutory retirement age. Only in Austria (for women), Colombia, Costa Rica, Hungary (men), Türkiye and the United Kingdom do DB schemes currently not include an early-retirement option. Elsewhere, the future benefit is in general not only lower because of the reduced contribution period, but it also has a further reduction for each year that the pension is taken early. Belgium and Luxembourg, however, do not apply a penalty.
In a few countries early retirement ages depend on the length of past contributions. The early retirement age is based on having made a given number of years of contributions in Austria (40 years) and Germany (35). In Belgium, Estonia and Italy there are different early retirement ages based on the variable numbers of years of contribution. For example, in Estonia, early retirement is possible one year early with 20 years of contribution, increasing to a maximum of five years with 40 years of contribution. In Greece and Luxembourg, the early and normal ages are the same. As the modelling assumes the career starts at age 22, the normal and early ages are both at age 62. Age 62 is the earliest age of retirement in Greece for anyone, with a minimum of 15 years of contributions, whereas in Luxembourg retirement is possible from age 57 with 40 years of contributions.
It is possible to retire at a very early age in a few countries for individuals who started their full career at an early age, as shown in the “early start” column in Table 3.5. For example, retirement is possible without penalty at age 60 with 44 years of contributions in Belgium or at age 57 with 40 years of contributions in Luxembourg. Although there are penalties within the earnings-related schemes in the other countries listed in the “early start” column they do not apply for these early start cases, meaning for example that there is no sustainability factor in Portugal if there are 46 years of contribution by age 60.
For the earnings-related schemes, different rules influence the age at which certain components of the pension system can be claimed. For example, in the FDC schemes of Chile, Colombia and Mexico and the DB scheme in the Slovak Republic, early retirement requires that pension entitlements exceed a floor. In the Slovak Republic, this is only possible within two years of the statutory retirement age.
Normal retirement age
The OECD defines the NRA in a given country as the age of eligibility of all schemes combined without penalty, based on a full career from age 22. Women in Chile, for example, are eligible for the FDC component at age 60 but they are not eligible to the targeted pension before age 65. The latter is therefore recorded as their NRA in 2024.
In 2024, the OECD average NRA was equal to 64.7 years for men and 63.9 years for women. It ranges from 49 for women and 52 for men in Türkiye to 67 in Denmark, Iceland, Norway and, for men only, Israel. The statutory retirement age in Italy is 67 but if the sum of the career length and the retirement age is at least 104 years then retirement is possible without penalty, from age 63. Pension schemes in nine countries still have a lower NRA for women (Figure 3.6). The largest gender difference of five years are in Colombia, Israel and Poland – the gap is also five years for the DC scheme in Chile but because women, and for that matter men, are only eligible to the targeted scheme at age 65 it is assumed that this difference does not translate in any gender gap for the NRA (Figure 3.6).
In most countries the age at the beginning of the career has a limited impact on the normal retirement age. If career entry had been at age 20 rather than 22, only six countries would have a different NRA for people retiring in 2024 (Figure 3.6). In Luxembourg and Slovenia as well as in Hungary for women, 40 years are needed for a full pension, hence, for a full career from age 20, the NRA is 60 in these three countries. In France 42.25 years of contributions are needed for retirement without penalty with a minimum age of 62.5 years. In Germany retirement is possible without penalty at just over 64 years after 45 years of contributions - therefore at age 65 with entry at age 20. In Portugal the retirement age is reduced by four months for every year of contribution beyond 40 years at age 60.
For an individual retiring in 2024 after an uninterrupted career from age 22 except for early starters
Note: n.a. = early retirement or deferral of pension is not available; Occ = occupational, Min = minimum pension, SL = subsistence level reached, T = targeted,. = no normal retirement age indicated as benefits automatically adjusted to the age of retirement in an actuarially neutral way. * Early retirement is possible at age 63 with 42 years, 61 with 43 years and 60 with 44 years. ** An early starter can retire at just over 64 years without penalty with 45 years of contribution. *** It is possible to retire in Italy at any age with 41 years of contribution provided 12 months of contribution were made before age 19. **** For women with children the retirement age is reduced dependent on the number of children. Normal and early retirement ages for a scheme describe the ages at which the receipt of a pension, respectively, with and without penalties is first possible, assuming labour market entry at age 22 and an uninterrupted career. Credits for educational periods are not included.
Source: OECD based on information provided by countries; see “Country Profiles” available at http://oe.cd/pag.
For an individual retiring in 2024 with a full pension after an uninterrupted career
Note: The retirement age difference for women is based on labour market entry at age 22. There is a five‑year gender gap for the DC scheme in Chile but because women are only eligible to the targeted scheme at age 65, whilst the age for all components is 65 for men, it is assumed that this difference does not translate in any gender gap for the normal retirement age. Only countries with a difference for either gender or entry age are shown. For all others see Table 3.5.
Source: OECD based on information provided by countries; see “Country Profiles” available at http://oe.cd/pag.