Average retirement age employees further up to nearly 64 years

16/01/2014 15:00

The average age for employees to go into retirement rose further in 2013 to 63.9 years, i.e. 0.3 years higher than in 2012. Currently, nearly half of persons going into retirement are aged 65 years or older. Altogether, 73 thousand employees retired last year.

Retirement age has risen since 2007

The average retirement age for employees over the period 2000-2006 was 61 years. Since 2007, the average retirement age has risen annually.
This is due to the introduction in 2006 of legislation changes aimed at encouraging people to work longer. As a result, the number of younger employees going into retirement was steadily reduced. The proportion of people going into retirement prior to their 60th birthday declined from 28 percent in 2006 to 6 percent in 2013.

Number of employees going into retirement and average age of retirement

Number of employees going into retirement and average age of retirement

Nearly half of people going into retirement are 65 years or older

The proportion of employees who retire between 60 and 65 has dropped dramatically in recent years: from 70 percent in 2008 to 46 percent in 2013. Last year, 48 percent of employees were 65 years or older at the moment of retirement. For the first time ever, this group is larger than the group of 60 to 65-year-olds who retire. 

Apart from the effect of having to work longer, another factor is that baby boomers, who were born shortly after the Second World War, have now reached the age of 65. Thus, in 2012 and, to a lesser extent, in 2013, a much larger number of 65-year-olds went into retirement.

Retirement age employees

Retirement age employees

Koos Arts and Ferdy Otten