According to website comparethemarket.com, the Grand Duchy has one of the longest retirement periods in the world.
The respective report uses data from the Organisation for Economic Co-operation and Development (OECD). It concludes that Luxembourg ranks fourth, while France, Spain, and Greece top the table.
© Compare The Market
On average, Luxembourgers have an expected retirement period of 23.65 years. Residents who started work at the age of 22 are likely to retire before the age of 62, meaning before they reach 40 years of employment.
The average retirement age is lower for men than for women: 60.5 versus 61.3. Still, due to higher life expectancy, the expected retirement period is higher for women than for men: 25 versus 22.3 years.
Table leaders France average 24.8 years of retirement, followed by Spain with 24.15 years, and Greece with 24.1 years. Belgium comes in fifth behind the Grand Duchy with an average retirement period of 23.3 years. Neighbouring country Germany ranks 14th with an average of 20.8 years of retirement.
