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Retirement is a major topic in the world.
Meanwhile, both retirees and pre-retirees mark 63 as the ideal retirement age.
A quarter of retirees receive at least 90% of their household income from these benefits.
The FRA for those born in 1960 or beyond is 67 years old.
Waiting until youre 70 can result in the highest possible benefit amount.
The downside to collecting benefits before the FRA is that the benefits amount will be lower.
More and more Americans are living longer and waiting to retire until theyre older, however.
A big reason for this is that theyre in better health.
There is one other major concern for Americans, and thats Social Securitys predicted insolvency.
If nothing is done, the program wont be able to pay the full amount by 2035.
This could result in more Americans working longer.
Average Retirement Age in Japan
In Japan, thelegally mandated minimum retirement ageis 60 years old.
This generally means offering them continued employment until they reach 65.
Roughly 94% of Japanese employers have a retirement age of 60.
Of that number, 70% require their employees to retire at that age.
The working population of Japan has declined in recent years, however.
This has led to discussions about raising the age residents can start receiving a pension.
Residents regardless of nationality between the ages of 20 and 59 pay into the public pension system in Japan.
They cannot collect benefits until theyre 65, however thus the reason for the law.
So, whats the average retirement age in Japan?
Of that number, 78% were between the ages of 60 and 64.
With that in mind, the retirement age in Japan isnt fixed.
Its possible to work beyond 65.
It just depends on the employer and the individuals preferences.
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