Expectations for retirement years in Europe indicate that men on this continent will live an average of 18.4 years and women 21.8 years after retirement. This data is based on Eurostat and OECD figures for 2024.
Differences Among European Countries
According to statistics, while men in the European Union live an average of 18.4 years after retirement, this number rises to 21.8 years for women. However, this data varies significantly across different countries. For example, men in Luxembourg are expected to benefit from their pensions for an average of 22 years, while this number drops to 14.7 years in Bulgaria and Hungary.
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These differences depend on factors such as retirement age and life expectancy. In countries like Greece, France, Slovenia, Switzerland, and Malta, men expect to spend more than 20 years in retirement. Additionally, in other countries including Cyprus, Sweden, Portugal, and Belgium, men will also achieve more retirement years than the EU average.
The Status of Women in Retirement Years
For women, it is expected that they will live an average of 21.8 years in retirement. This number reaches 34.5 years in Turkey, while it drops to 18.6 years in Hungary. Various countries such as Slovenia, Greece, France, Spain, and Switzerland also expect women to benefit from their pensions for more than 22 years.
Overall, in the European Union, women will spend an average of 3.4 years more than men in retirement. This gap between men and women can be attributed to various reasons including labor market participation rates and related legal differences. In countries like Germany and the UK, women spend less time in retirement than the EU average.
Retirement Age and Its Impact on Life After Work
Currently, the retirement age in Europe is set at 64.7 years for men and 64 years for women. In Turkey, however, the retirement age is significantly lower, at 52 years for men and 49 years for women. These differences can have a profound impact on individuals' retirement periods.
Overall, the level of pensions in Europe is highly diverse, which affects the quality of life for elderly individuals. While in some countries pensions are significantly higher than in others, some countries face greater financial challenges, which can negatively impact the daily lives of retirees.
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