Real retiring age of Spaniards highest

[ForeignExchange]

Real retiring age of Spaniards highest

Elisa García

The number of retired people who own their own homes is the highest in the world

Spaniards retire, on average, at the age of 62, which is the highest retiring age of the developed countries of the world, and three years before the legal retiring age. Sixty three per cent of those taking early retirement do so of their own accord, while the remaining 37 per cent are forced by their employers to accept early retirement. These are among the results of a study carried out by the multinational insurance company AXA Group, which also tells us something about the worries most people have concerning proposed reforms of the Social Security system in Spain, believing that they will receive reduced benefits or be forced to remain working for more years.

A total of 7,000 people, both retired and working, were interviewed in the study, in 11 countries in the world that can be described as ‘highly developed,’ these being the United States, Canada, the United Kingdom, Germany, Italy, France, Belgium, Spain, Australia, Hong-Kong and Japan. The publication of the report has a special relevance for Spain, where the government, business and trade union leaders meet every week in an attempt to adapt the social security system to the needs of society in general.

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