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.