What Is the Average Retirement Age?
The brief’s key findings are:
- Since the mid-1990s, the average retirement age has risen:
- from 62 to 64 for men; and
- from 60 to 62 for women.
- This trend toward later retirement has been driven by several factors:
- changing incentives in Social Security and employer pensions;
- better education and health coupled with less strenuous jobs; and
- the decline in retiree health insurance.
- In addition, more older women are working today because more of them started working when younger.
- These factors suggest the trend toward later retirement will continue but risks remain, such as the move away from career employment.