The average age for withdrawal of national pension landed last year at 65.5 years. It is clearly higher than during the last 20 years, but slightly lower than in 2023 when the average was 66.0 years, according to new figures from the Pensions Authority.
The fact that the retirement age decreased slightly in 2024 was expected, according to the authority, and is due to many having to wait to reach the new lowest age for withdrawal of national pension.
"Many of those who probably would have liked to retire in 2023 but had to wait a year, instead took out their pension in 2024", says Alma Masic, analyst at the Pensions Authority, in a press release.
