The lowest age that a person can start receiving retirement benefits depends on several factors, including the country they live in and the type of benefits they want to claim. In most developed countries, the earliest age a person can start collecting government-sponsored retirement pensions ranges from 55 to 67 years old. However, there are some special cases and provisions that allow certain individuals to retire and claim benefits earlier than the standard retirement age.
Earliest Retirement Ages by Country
Here is an overview of the lowest retirement ages in some major developed countries:
United States
The earliest age for retirement in the US is 62 years old for Social Security retirement benefits. At this age, you can start claiming Social Security payments, but your monthly benefit amount will be permanently reduced compared to claiming at your full retirement age (currently 66 or 67 depending on birth year).
Canada
In Canada, the minimum age to start receiving payments from the Canada Pension Plan is 60 years old. Just like with US Social Security, claiming CPP pension at 60 results in a permanent reduction in monthly payments compared to waiting until the full retirement age of 65.
United Kingdom
The standard retirement age in the UK is currently 66. However, workers can begin claiming their State Pension as early as age 55, with reduced benefits. The amount of the reduction depends on when you were born.
France
France has one of the lowest retirement ages among developed economies. The minimum age to claim a full pension is 62, and as early as age 55 for certain workers.
Germany
In Germany, the regular full retirement age is 67, but it’s possible take early retirement payments as early as age 63. Doing so results in permanently lowered benefit amounts.
Japan
Japan has set the eligibility age to receive public pension benefits at 65. Early retirement is possible starting at age 60, but with reduced payments.
Special Cases for Earlier Retirement
While most developed countries have standard retirement ages of 55 or older, there are some special provisions that allow certain people to claim retirement benefits earlier:
- Disability benefits – Most nations provide early retirement for people with disabilities that prevent them from working. This often includes reduced age requirements and higher benefit rates. The exact rules vary but can allow retirement as early as age 50.
- Government employee pensions – Some government workers such as firefighters, police officers, and military members have earlier retirement ages, often age 50 or 55.
- Hazardous occupations – Workers in dangerous jobs, like mining, may have access to early retirement, generally between ages 50-55.
- Long-term unemployment – Older workers who lose their jobs and have been unemployed for over 1 year may qualify for early retirement as early as 55 in some European countries.
Early Retirement Ages for Women
Historically, many countries had lower retirement ages for women compared to men, or allowed women to claim spousal benefits early. This is changing but there are still some gender-based differences:
- Austria – Women can retire at age 60 vs. 65 for men
- Poland – Retirement age is 60 for women and 65 for men
- Switzerland – Women have access to early retirement at 64, men at 65
- Slovenia – Women can retire at age 61 vs. 65 for men
However, most developed economies have now equalized retirement ages for both genders, including:
- US, UK, Germany, Japan, Canada
- Italy, Sweden, Norway
Early Retirement for the Self-Employed
Self-employed persons and small business owners often have more flexibility on when they can retire compared to regular employees. While they still must wait until the eligible age to claim government and pension benefits, they may have more control over scaling down their workload or business activities.
Self-employed individuals can also make their own provisions, like saving in private retirement plans, that could allow them to retire early compared to worker relying only on national pension schemes.
Early Retirement in Developing and Emerging Countries
Retirement ages are generally lower in developing nations compared to advanced economies. Many emerging countries have retirement ages of 50, 55 or 60 for public pensions.
Examples include:
- China – 50 for women, 55 for civil service workers
- Brazil – 55 for men, 50 for women
- Argentina – 60 for both men and women
- India – 58 or 50 depending on job category
- Indonesia – 56
- South Africa – 60 for both genders
Lower retirement ages in the developing world reflect shorter life expectancies and lower GDP per capita compared to richer nations.
The Lowest Possible Retirement Age
While 55-60 is the most common minimum retirement age across the world, a few countries do offer pensions with earlier eligibility:
- Albania – 52
- Ukraine – 55 for women, 60 for men
- Hungary – As low as age 33 for women with 40+ years of contributions
A small number of professions may provide early pensions before age 50 in some countries, but these are exceptions. Overall, the vast majority of state-supported retirement benefits globally require recipients to be age 55 or older.
Conclusion
In summary, while full and early retirement ages vary across different countries, the lowest age that most workers can start claiming retirement benefits is between 55-60 in most of the world. The notable exceptions are special provisions for groups like disabled, unemployed, or hazardous occupation workers who may qualify for pensions in their 50s or younger in some nations. However, for the average healthy worker, the absolute minimum retirement age in most developed economies is age 62, with 55-60 more common in emerging countries.