Analysis of retirement duration and life expectancy in the European Union

A recent Euronews Business analysis, utilizing data from the OECD and 2024 retirement benchmarks, highlights significant disparities in post-retirement life expectancy across Europe. In 2024, the average statutory retirement age within the EU was 64.7 years for men and 64 years for women. On average, men across the bloc are expected to spend 18.4 years in retirement, while women are expected to spend 21.8 years.

Luxembourg currently reports the longest duration for male retirees at 22 years. Conversely, Bulgaria and Hungary report the shortest durations, with men in those nations averaging only 14.7 years in retirement. In Cyprus, where the retirement age is 65, retirees enjoy a longer-than-average period, with men living for 19.8 years and women for 22.5 years after leaving the workforce. Outside the EU, Turkey shows a significantly higher figure, with retirees expected to live for another 27.3 years.

These findings underline how life expectancy variations at the age of retirement affect the duration of pension receipt. While these figures provide a statistical overview, the report notes that many individuals continue to work after reaching the official retirement age, and receiving a full pension remains contingent on meeting specific national requirements regarding years of service.