Over 40 percent of employees 65 years or older at retirement

17/01/2013 15:00

The average age at which employees go into retirement has risen further to 63.6 years in 2012, i.e. an increase by six months relative to 2011. Over 40 percent of employees are 65 years or older at retirement. Altogether, 78 thousand people went into retirement last year.

Retirement age has risen since 2007

In the period 2000 - 2006, the average age of retirement of employees was 61. Since 2007 the average age of retirement has risen annually. Several amendments were passed and new legislation was introduced in 2006 in order to stimulate people to work longer. The number of people who retired prior to their 60th birthday declined and at the same time the proportion of people who continued working until 65 increased.

Number of retired employees and average age of retirement

Number of retired employees and average age of retirement

More employees stop working at the age of 65 or older

Last year, 42 percent of employees were 65 or older when they retired, a substantial increase relative to 2011 (30 percent). One of the main causes is the fact that the first baby boomers, born just after the end of the Second World War have now reached the age of 65. As a result, more 65-year-old employees went into retirement in 2012.

Currently, the majority of employees who go into retirement are still between 60 and 65 years old. This has not changed since 2000, but the proportion has declined considerably in recent years: from 70 percent in 2008 to 53 percent in 2012. Within this age category, the average age has risen by more than twelve months since 2006.

Retirement age employees

Retirement age employees

Koos Arts and Ferdy Otten