The World's Lowest Retirement Ages: Where Workers Can Exit the Workforce Earlier

Across much of the developed world, the conversation around retirement revolves around working longer. As life expectancy increases and pension systems face mounting pressures, many countries have steadily raised their official retirement ages. Yet pockets of the global economy still maintain some of the world’s lowest retirement ages—giving workers in these nations a genuine advantage when it comes to stepping away from their careers. Whether due to differing economic models, demographic patterns, or historical policy choices, these ten countries stand out for allowing workers to retire significantly earlier than the global average.

The specifics of what retirement actually means varies considerably. Most pension systems fall into two categories: defined contribution plans, where workers contribute a set percentage of their earnings and receive benefits based on years worked and age at retirement, or defined benefit plans that guarantee a fixed benefit level regardless of market fluctuations. Understanding these distinctions is crucial for anyone considering retirement in a foreign country.

Indonesia: Asia’s Accessible Early Retirement

Indonesia represents one of the most accessible early retirement options globally, where both men and women can currently retire at age 58. This relatively low retirement age in Indonesia reflects the country’s developing economy status and demographic structure. However, the government has implemented a gradual adjustment: the retirement age has been climbing incrementally, and will reach 65 by 2043. Private sector workers contribute to a state-managed social security program, and upon retirement, they have flexibility in how they receive their pensions—choosing either a lump sum payment or a combination of an initial lump sum followed by periodic installments.

India: Tiered Retirement Based on Employment Type

India’s approach to retirement age in this region demonstrates flexibility, with most workers able to retire between 58 and 60 years old depending on their employment sector. Government employees in Kerala saw their retirement age increased to 60 in 2020, a shift that other Indian states have replicated or plan to follow. Currently, central government employees retire at 60. The Indian pension landscape comprises multiple programs: the Employees’ Pension Scheme requires workers to reach 58 with at least a decade of contributions, while the more generous Employees Provident Fund permits retirement at just 55 years. However, these systems primarily benefit government workers and employees of companies with 20 or more staff—covering only about 12% of India’s workforce.

Saudi Arabia: Oil-Backed Security and Recent Gains

Men in Saudi Arabia enjoy one of the world’s lowest retirement ages at 58, and women—increasingly participating in the workforce—can also retire at the same age. Workers contribute mandatorily to a public pension system, becoming eligible to draw benefits at 58 with at least ten years of contributions, or at any age with 25 years of service. A significant recent development occurred in 2023, when Saudi Arabia increased its minimum pension by 20%, enhancing the security of retirees across the nation.

China: Gender and Occupation Shape Retirement Timing

China’s retirement age structure reflects Confucian and socialist labor traditions, varying dramatically by gender and job type. Men retire at 60, while white-collar women retire at 55 and blue-collar women at 50. Those in physically demanding roles can retire even earlier—women at 45 and men at 55. The dual pension system comprises a basic pension paying 1% of average wages per year of coverage (for those with 15+ years of contributions) and a defined contribution pension where workers pay 8% of wages annually into individual accounts, with payouts adjusted for age and national life expectancy.

Russia: Early Exit Despite System Strain

The Russian pension system currently permits men to retire at 60 and women at 55, reflecting policy decisions made during the Soviet era. However, the system faces considerable strain as Russia’s population ages. The government plans to gradually raise the retirement age to 65 for men and 60 for women by 2028. That said, career-long workers—men with 42+ years of service or women with 37+ years—can retire early, though they cannot claim pensions until reaching the standard age thresholds. All workers pay into the social security system, with a mandatory eight-year contribution minimum before benefits become accessible.

Turkey: Gradual Reforms and Phase-In Adjustments

Turkey currently permits men to retire at 60 and women at 58, but significant changes are underway. In 2023, Turkey reformed its pension requirements, allowing those who initially enrolled before September 8, 1999 to claim pensions upon meeting specific contribution milestones—25 years for men and 20 years for women. This targeted approach addressed the disruptions caused by sweeping 1999 pension law changes that lacked proper implementation periods. Looking forward, Turkey is systematically increasing its retirement age and will reach 65 for both genders by 2044.

South Africa: Means-Tested Pension Access

South Africa offers a notably low retirement age, with both men and women eligible for state pensions at 60. The public pension system operates on a means-tested basis, granting “older person’s grants” to citizens aged 60+ with limited income and assets. Beyond the public system, South Africa also permits voluntary private pensions funded by employer and employee contributions, allowing workers to supplement their government benefits.

Colombia: Flexible Pension System Design

Colombian workers enjoy differentiated retirement ages: men at 62 and women at 57, among the world’s lowest for women. The country operates dual pension tracks—a public pay-as-you-go model and a private individual account system. Workers can switch between these options every five years until ten years before retirement, though they cannot participate in both simultaneously. All employees must enroll in one of the two plans, giving them meaningful choices about their retirement security.

Costa Rica: Proportional Benefits and Voluntary Supplements

Costa Ricans can claim full old-age pensions at 65 (both men and women) after contributing for 25 years. Those with 15-25 years of contributions receive proportional pensions, ensuring some benefit across contribution levels. The system includes supplementary pensions through individual accounts, and workers can additionally purchase voluntary defined contribution personal pensions, creating layered retirement security.

Austria: Converging Gender Equity in Retirement

Austria currently allows men to retire at 65 and women at 60, though this gap is narrowing. Women’s retirement age will gradually increase to 65 by 2033, reflecting modern gender equity principles. Austria’s defined benefit pension system requires at least 15 years of contributions to qualify. Low-income retirees receive supplementary payments to maintain a minimum income floor, protecting vulnerable pensioners.

Planning for Early Retirement: The Global Perspective

For those considering retirement in one of these countries with the world’s lowest retirement ages, advance planning is essential. Across all these nations, claiming a pension requires meeting minimum contribution periods—typically between 8 and 25 years of employment and system participation. While the lowest retirement ages in these countries present genuine opportunities for early exit from the workforce, building sufficient contributions during your working years remains the prerequisite for actually accessing these benefits. Understanding both your home country’s taxation of foreign pensions and your target country’s residency requirements will ensure your retirement plans materialize as intended.