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Indonesia's Retirement Age Compared to G20 Countries: Which is the Oldest?

Cindy Mutia Annur 26/05/2023 17:26 WIB

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According to Trading Economics data, Indonesia has one of the youngest retirement ages among G20 countries.

Comparison of Retirement Ages in Indonesia and G20 Countries by Gender (2022)

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Indonesia's Retirement Age Compared to G20 Countries: Which is the Oldest?

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Comparison of Retirement Ages in Indonesia and G20 Countries by Gender (2022)

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Retirement marks the end of one's working life upon reaching the non-productive age. Retirement age varies from country to country, depending on government policies and the profession in question.

Knowing the retirement age is crucial, as it is a right that every worker deserves.

In Indonesia, the retirement age is regulated in Government Regulation Number 45 of 2015, Article 15, paragraphs 1-3. The content is as follows:

1. Initially, the retirement age was set at 56 (fifty-six) years.
2. Starting January 1, 2019, the retirement age, as referred to in paragraph (1), became 57 (fifty-seven) years.
3. The retirement age, as referred to in paragraph (2), will increase by 1 (one) year for every subsequent 3 (three) years until it reaches 65 (sixty-five) years.

Based on these regulations, the retirement age in Indonesia is 58 years, with a maximum retirement age of 65 years.

So, what about retirement ages in other countries, such as those in the G20?

According to data from *Trading Economics*, Indonesia has one of the youngest retirement ages among G20 countries.

Italy has the oldest retirement age among G20 countries, at 68 years for both men and women. It is followed by the Netherlands, Australia, the United States, Spain, and the United Kingdom, which have average retirement ages above 66 years.

Generally, the average retirement age in Europe is older than in Asia, as shown in the graph above.

Above Indonesia, Turkey, South Korea, Saudi Arabia, India, and China have average retirement ages ranging from 55 to 60 years.

Recently, French citizens protested the government's pension reform policy. President Emmanuel Macron raised the retirement age in France to 64 years.

However, the French pension reform still doesn't match the retirement age in several other European countries, as shown in the graph above. Nevertheless, the French retirement age is significantly higher than Indonesia's, which is only 58 years.

Editor : Padjar Iswara

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."