When can I retire?

The age of retirement is usually determined by the state in case of countries with a national pension system. The ages usually differs between men and women, because of period of pregnancy for women and therefore it is usually higher for men. The requirements for a retirement are a limit of years spent at work while paying the annual pension contribution and fees. In some countries people who work in the public sector might be entitled for an earlier retirement as a reward for their work for the government.

In the United Kingdom the current age limit for retirement is 65 years for men and 60 for women in case of a state pension. However the present government is intending to balance this difference by increasing the retirement age for women to 65 progressively in the period ending with 2020. These changes are due some demographic and economic reasons as well. Further requirements for the state pension are the years spent in work, which is 44 years for men and 39 years of work for women, while paying the national insurance contribution.

Couples, who are both over the age of 65 are entitled for an additional amount of pension in a form of a pension credit from the state.