Retirement Age Changes Across Various Countries

Recent changes in retirement age policies across various countries reflect shifting demographics and economic considerations. In the U.S., individuals born in 1960 or later will need to wait until age 67 to receive full Social Security benefits, a change enacted in the 1980s to address increased life expectancy. Conversely, Italy has introduced new early retirement options allowing workers to retire at 64, contingent on meeting additional contribution requirements. Singapore plans to raise its retirement age from 63 to 65 by 2030, promoting sustainable employment amid an aging population. Meanwhile, Ukraine is tightening retirement eligibility, increasing the minimum years of insurance needed for those wishing to retire at ages 60 and 63. In the Azores, a proposal to lower the retirement age to 64 years and three months is being considered due to lower life expectancy compared to mainland Portugal.