As Europe's population ages and retirement ages creep upward, a crucial question for policymakers and citizens alike is: once you stop working, how many years will you actually receive a pension? The answer varies dramatically from one country to another, reflecting differences in both statutory retirement ages and life expectancy.
According to OECD data for 2024, the average retirement age in the European Union is 64.7 for men and 64 for women. Using life expectancy at those ages, Eurostat and OECD figures show that EU men can expect to live 18.4 years after retirement, while women can expect 21.8 years. These are the average number of years a person would receive a pension, assuming they meet contribution requirements and do not continue working.
From Bulgaria to Luxembourg: a wide spectrum
The contrast is stark. At the low end, men in Bulgaria and Hungary can expect just 14.7 years of pension payments. In Latvia, Romania, and Lithuania, the figure is below 16 years. At the other extreme, Turkish men top the list with 27.3 years, though Turkey's unusually low retirement age of 52 for men distorts the picture. Within the EU, Luxembourg offers the longest period for men at 22 years.
Other countries where male pensioners can expect more than two decades of payments include Greece (21 years), France (20.7), Slovenia (20.7), Switzerland (20.4), and Malta (20.2). Above the EU average of 18.4 years are Cyprus (19.8), Sweden (19.4), Portugal (19.3), Belgium (19.1), Ireland (19), the UK (19), Austria (18.8), and Finland (18.7).
Germany stands out among major economies: at 17.3 years, German men fall 1.1 years below the EU average, a notable gap compared with France, Italy, and Spain.
Women: longer retirement, but not everywhere
For women, the EU average is 21.8 years. The range runs from 18.6 years in Hungary to 34.5 years in Turkey. Luxembourg again leads the EU with over 25 years. Women in Slovenia, Greece, France, Spain, Switzerland, Malta, Italy, Portugal, Cyprus, and Finland are all projected to receive pensions for more than 22 years.
Interestingly, both Germany (20.3) and the UK (21) fall below the EU average for women. Several countries see women spending less than 20 years in retirement, including Bulgaria (18.8), Romania (19.1), the Netherlands (19.2), Croatia (19.6), Denmark (19.7), Latvia (19.8), and Iceland (19.8).
Retirement age and life expectancy
Retirement ages across the 32 European countries surveyed range from 62 to 67 for men and 60 to 67 for women, with Turkey as an outlier at 52 and 49 respectively. The EU average retirement age is 64.7 for men and 64 for women. Life expectancy at those ages is 83.1 for men and 85.8 for women.
The gender gap in retirement duration is significant: EU women spend on average 3.4 years longer in retirement than men. The gap is widest in Turkey (7.2 years) and narrowest in Iceland (1.6 years). In Estonia, Lithuania, Latvia, Bulgaria, Romania, and Poland, the gap is four years or more, partly reflecting lower female labour force participation.
Beyond duration, the gender pension gap remains a pressing issue. Across OECD countries, women receive on average 23% less in pensions than men; in the UK, that gap reaches 37%.
When people actually stop working
The statutory retirement age does not always match the effective labour market exit age. In the EU, men retire on average at 63.8, slightly earlier than the official 64.7, while women exit at 62.9 versus the official 64. Turkey again shows the largest discrepancy: men can retire at 52 but actually leave the labour force at 60.8, and women at 49 versus 60.5. Using the effective exit age, expected years in retirement in Turkey drop to 18.2 for men and 22.6 for women, much closer to the EU average.
Pensions remain the primary income source for older Europeans, and their value varies widely in both nominal and purchasing-power terms. As debates over pension reform continue in many capitals, these numbers highlight the delicate balance between fiscal sustainability and the promise of a secure retirement.
