Source of data: Statista, Katharina Buchholz, Jan 31, 2020
Who Spends The Longest Time In Retirement?
The Organisation for Economic Co-operation and Development (OECD) has 36 member countries and was formed in 1961 to stimulate economic progress and world trade. 19 countries joined in 1961 and 17 have joined since.
So, which country’s citizens spend the longest time in retirement?
The highest average number of years spent in retirement is by the French out of all the OECD countries.
Their women spend 26.9 years in retirement, while their men spend 22.7 years. These figures are from 2018, based on average retirement age and life expectancy when leaving the labour market for each country.
Retirees in the UK are about four years worse off than the French – roughly the same as Germany.
South Koreans can expect only 12.9 (men) and 16.3 (women) years in retirement.
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The French Are Fighting To Maintain This Position
The French government proposed to increase the standard retirement age from 62 to 64. After protests, this was delayed until 2025, but protests and the longest transport strike in French history continue.
The protests in Paris have turned violent as uniformed firefighters clash with police on the streets of Paris. The video below shows some grim footage in the capital of France on 28 January 2020.
The firefighters are also seeking better pay and conditions, including their hazard bonus, which hasn’t changed since 1990. Riot police used teargas and fighting broke out.
Figaro have a video showing shocking footage of French Police clashing with firefighters.
Upcoming local elections mean the French government have softened their approach, withdrawing the use of the most extreme teargas grenade in use anywhere in Europe, which has been blamed for injuring a lot of protesters, including blinding.
Who says retirement and pension age doesn’t generate strong feelings? We don’t want to take sides on an issue where we don’t understand all the details. On pension age, Germany started to raise its retirement age from 65 to 67 in 2012. In the UK similar rises were accelerated in 2011.