GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you’re free to read more about oureditorial guidelinesand our products and servicesreview methodology.
Their promises come as the United States faces a situation of astruggling Social Security systemand people living longer.
But the U.S. is far from the only country facing such struggles.
Heres a look at the average retirement age in the U.S. compared to Spain.
Also see the average retirement age in France.
The exact age varies for individuals based on factors such as health and financial readiness.
If you were born 1960 or later, full retirement benefits are payable at age 67.
Theaverage monthly Security benefit checkis about $1,800, but that can vary quite a bit.
Along with people living longer, theyre also working more years.
The presidential candidates have been talking about this issue because Social Security faces an uncertain future.
Retirement in Spain
The average retirement age in Spain is not a whole lot different from America.
Currently, according to theEuropean Commission, the minimum age for applying for pension is 65.
Thats if you’re free to prove youve paid at least 37 years and nine months of contributions.
Or, the age is 66 years and four months if you have fewer contributions.
Spain also offers flexible and partial retirement options.
it’s possible for you to combine your pension with part-time work and still receive the same healthcare benefits.
Just as Americans are living longer, so are the people of Spain.
According to theWorld Health Organization, life expectancy in Spain has risen to about 83.
As you may know, Spain has become a popular retirement destination for Americans.
It has a fairly low cost of living, nice weather and a rich culture.
More From GOBankingRates
Share This Article:
