November 29, 2020

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The average retirement age will rise above 65 for the first time in 2019

The average retirement age will rise above 65 for the first time in 2019

The average retirement age was over 65 for the first time last year, according to the Central Bureau of Statistics. Employees retired at an average of 65.1 years in 2019, 4 months later than people who retired in 2018 (according to adjusted figures).

Only a third of workers retired before their 65th birthday last year, compared to nearly 90 percent of workers in 2006.

Proportion of retirees

The age at which people retire is increasing because regulations have been adjusted in view of increasing life expectancy.

The state retirement age rose to 66.4 years last year. On average, employees quit before that age.

The percentage of the retired population has remained the same for a number of years, influenced by the rise in the retirement age. Between 2001 and 2014 this share rose from 15.1 to 18.3 percent.

Keep working

The people who retired in 2019 worked longer than 45-65 year old workers. This is the result of a survey by Statistics Netherlands and TNO among 58,000 people. The 45- to 65-year-olds want to continue working for an average of 64.5 years, while this group has to retire later than the current pensioners.

Half of the respondents said they would like to work longer, provided they have to work fewer hours or fewer days.