Data · Cross-country · 2026
Retirement age by country: the two ages that actually matter
No major English-speaking country has one retirement age. Each system has two: the age your own retirement savings unlock (55–60), and the age the state benefit begins (62–68) — and none of them forces you to stop working. Here are the four systems side by side, each figure sourced from the official agency.
The comparison
| Country | Own savings unlock | State benefit | Key deadline / catch |
|---|---|---|---|
| 🇺🇸 United States | 59½ (401(k)/IRA penalty-free) | 62 earliest — Full Retirement Age 66–67 — max at 70 (Social Security) | RMDs from 73 (born 1951–59) or 75 (born 1960+) |
| 🇬🇧 United Kingdom | 55 — rising to 57 from April 2028 | State Pension age 66 — rising to 67 (2026–28), then 68 | 25% tax-free lump sum capped at £268,275 |
| 🇨🇦 Canada | No fixed age (RRSP anytime, taxed) — LIRA usually 55 | CPP 60 earliest (−36%) — standard 65 — max at 70 (+42%); OAS 65 | RRSP must convert to RRIF by December 31 of the year you turn 71 |
| 🇦🇺 Australia | Super preservation age 60 (for everyone, from 1 July 2024) | Age Pension 67 (born on or after 1 Jan 1957), means-tested | Super is locked until 60 — early retirees bridge from outside super |
Mandatory retirement is abolished in all four countries — these are access ages, not stop-working ages. Figures are current policy; verify at the source agency before acting.
How to read the two ages
The savings-unlock age (55–60) is set by tax law to discourage early withdrawal from tax-advantaged accounts — the UK is currently the earliest at 55 (57 from April 2028), the US at 59½, Australia at 60, while Canada's RRSP is accessible any time at the cost of tax. The state-benefit age (62–68) is fiscal policy, and it is rising almost everywhere as lifespans lengthen — the UK is legislated to reach 68, the US Full Retirement Age settled at 67 for anyone born 1960+, and Australia's Age Pension reached 67 in 2023. The gap between the two ages is where bridge planning lives: money outside the locked accounts has to carry an early retiree from the unlock age to the benefit age.
Frequently asked questions
- What is the retirement age in different countries?
- No major English-speaking country has a single mandatory retirement age — what differs is when you can access money. Private retirement savings unlock at 59½ in the US (401(k)/IRA), 55 in the UK (rising to 57 in 2028), and 60 in Australia (super preservation age); Canada's RRSP has no fixed age. State benefits start later: US Social Security 62–70 (full at 66–67), UK State Pension 66 (rising to 67 then 68), Canada CPP 60–70 (standard 65) plus OAS at 65, and Australia's Age Pension at 67.
- Which country has the earliest retirement age?
- For accessing private retirement savings, the UK is currently earliest at 55 (rising to 57 from April 2028), followed by the US at 59½ and Australia at 60. For state benefits, Canada's CPP can start earliest at 60 (with a permanent 36% reduction) and US Social Security at 62 (also reduced). For the full, unreduced state benefit, the ages cluster at 65–67 in all four countries.
- Is there a mandatory retirement age in the US, UK, Canada, or Australia?
- No. All four countries have abolished mandatory retirement for most jobs — you can legally keep working as long as you want. 'Retirement age' in practice means the ages at which your own savings unlock and your state benefit starts, and those are different in every system.
- Why do all these countries have two different retirement ages?
- Every system splits the same two levers: the age you may access your own tax-advantaged savings (55–60, set to discourage early withdrawal), and the age the government benefit begins (62–68, set by fiscal policy and rising with longevity). The gap between them is why bridge planning exists — Australians bridge from 60 to the Age Pension at 67, Britons from 55/57 to the State Pension at 66–68, and early retirees everywhere plan around the years their money must carry them alone.
Sources: US Social Security Administration and IRS; UK government (gov.uk); Service Canada and CRA; Services Australia and ATO — as reflected on each linked Richify retirement-planning hub, where every figure is sourced in context. Policy ages change by legislation; always verify against the official agency. Educational information only — not financial advice.
