The line in the graph represents the average length of retirement in Organization for Economic Co-operation and Development (OECD) countries. Italy is number one, and Canada is near the median. Life expectancy for Americans is relatively short. The main reasons are high obesity rates, limited access to healthcare and one of the world’s largest income inequalities. Since 1970, the average length of retirement has increased significantly in most countries, but the trend is now stabilizing or even reversing as a result of slow improvements in mortality rates and increases in the normal retirement age.
average number of years spent in retirement
by country
24.3
24.3
23.4
23.4
22.2
21.9
21.7
21.7
20.9
20.9
20.4
20.2
20.1
19.8
19.2
19.2
19.0
18.9
18.8
18.5
Murat Yuxeril / THE GL.Ove and MaiL.
sauceE: Fred Vethese. OECD.
Average years of retirement by country
24.3
24.3
23.4
23.4
22.2
21.9
21.7
21.7
20.9
20.9
20.4
20.2
20.1
19.8
19.2
19.2
19.0
18.9
18.8
18.5
Murat Yuxeril / THE GL.Ove and MaiL.
sauceE: Fred Vethese. OECD.
Average years of retirement by country
24.3
24.3
23.4
23.4
22.2
21.9
21.7
21.7
20.9
20.9
20.4
20.2
20.1
19.8
19.2
19.2
19.0
18.9
18.8
18.5
Murat Yuxeril / THE GL.Ove and MaiL. sauceE: Fred Vethese. OECD.
Frédéric Vettese is Morneau Chepel’s former chief actuary and author of: lifetime retirement benefits.
