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Hungarians Have One of Shortest Retirement Lives in Europe, OECD Data Reveals

• 5 Apr 2024 9:00 AM
• Hungary Around the Clock

Hungarians experience one of the shortest retirement periods in Europe, with men averaging 14.5 years and women 20.7 years, according to OECD data.

Despite a default retirement age of 65 for both genders, Hungarian women can retire earlier, provided they have 40 years of service.

Over a recent five-year period ending in 2022, Hungarian men left the workforce at an average age of 63.2, and women at 60.8, significantly earlier than the retirement age.

This is partly due to the gradual increase in retirement age from 63.5 in 2017 to 65 in 2022.

In the 22 EU countries included in the analysis, on average, women could retire at 63.9 years, almost two years later.

In contrast, the average retirement age for Hungarian men, at 64.6, is slightly higher than the European average.

However, while men in the EU can expect to live on average 18.4 years after leaving work, Hungarian men can expect to live just 14.5 years and women about two years less than the average for women.
 

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Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.

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