French people tend to retire a full five years before those in most other countries. The official retirement age in France is 62 years, but only one in five French men between the ages of 61 and 65 work. That's triple the percentage of retired American men and almost five times the percentage of retired Japanese men in the same age group.
More retirement statistics:
- Those in Asian countries tend to retire the latest. About 25 percent of Korean men older than 75 still work, as do 14 percent of Japanese men of the same age. Only one-half of 1 percent of French men in that age group work.
- The issue of retirement is becoming increasingly important in the face of a rapidly aging global society. Nearly 20 percent of Americans are older than 65, and by 2050, half of the Chinese population will be older than 65. The same statistics hold true for Europe, where between one-third and half of the population in most countries is expected to be of retirement age before 2050.
- Seventy percent of Americans report feeling that they will not be prepared for retirement. The average savings of a 50-year-old in America is $2,500 US Dollars (USD).