France has erupted in protest at the news that the country’s pension age will soon rise. As the population grows older, implementing such initially painful reforms is looking increasingly like a necessity. Check Express.co.uk’s map below to see how the UK State Pension age compares to that in France, Germany, and elsewhere.
In the EU, the number of people aged 75 increased 13.7 percent in the ten years to 2022, according to Eurostat, the bloc’s statistical agency.
During the same time frame, the median age went up by 2.5 years from 41.9 to 44.4. In Europe, as in the UK and the rest of the developed world, the number of people beyond working age is climbing, and the population as a whole is ageing.
In this way, Eurostat projects “that the number of pension beneficiaries will increase as the number of pension contributors declines.” This presents a challenge for both pensioners and finance ministries alike.
Between 2008 and 2017, the value of old-age pension benefits across the 27 EU member states rose by 36.5 percent – a burden ultimately falling on working taxpayers only expected to get heavier.
With life expectancy continuing to grow —although that figure has recently dropped in the UK — more and more people can expect 20, 30 or more years during which they must draw on their private pension pots. A survey of retirees last year revealed just under half were concerned about running out of money in their twilight years.
