The age at which you can retire depends on the country you live in and the type of pension or retirement benefits you plan to use. Here is a summary based on recent information:
- In the UK, you can start drawing workplace and private pensions from age 55 (this will increase to 57 from April 2028), but to access your State Pension, you need to be at least 66 years old (rising to 67 between 2026 and 2028, and eventually 68). There is no legal requirement to retire at a specific age, and many people choose to work beyond traditional retirement ages.
- In the US, the earliest age to receive Social Security retirement benefits is 62, but full retirement age for unreduced benefits varies depending on your birth year, typically around 66 or 67 for most people born after 1954.
- In Germany, the standard retirement age is currently 67, with a gradual increase depending on birth year, fully applying by 2031. Early retirement is possible with reduced benefits, or at age 63-64 if you have contributed to the pension system for at least 45 years without deductions.
Ultimately, when you can retire depends on your personal circumstances, including the pension schemes you qualify for, your work history, savings, and financial readiness. If you share your country or specifics, I can provide more tailored information.
