With less than a year remaining before the elections in Turkey, the age-at-retirement (EYT) is on the agenda once again. A working group on EYT members was established under the Ministry of Labor and Social Security.
According to the 2020 data of the Organization for Economic Cooperation and Development (OECD), the average life expectancy at retirement in Turkey is 22.6 years. The OECD average is 21.6 years, and the European Union (EU) average is 21.7 years. However, Turkey is one of the countries with the longest weekly working hours.
While the age of exit from the labor market is 60 in Turkey, this number is 63.1 in OECD.
So, what is the average life expectancy at retirement in OECD countries? Which countries have the highest life expectancy at retirement?
OECD data show “expected years in retirement”. It means life expectancy after the actual age of exit from the labor market. Accordingly, the highest life expectancy at retirement in 2020 was 25.7 years in Greece. Spain is second with 25.4 years and France is third with 25.3 years.
The OECD country with the lowest life expectancy in retirement is Latvia, with 17.1 years. This country is followed by Mexico (18.3 years) and Estonia (18.7 years).
This period, where the OECD average is 21.6 years, is as follows in some other countries: Belgium 24.2 years, Netherlands 21.9 years, Germany 21.6 years, England 21.4 years, Israel 20.9 years and the USA 19.9 years.
Life expectancy at retirement varies significantly by gender. While this period is 20.2 years for men in Turkey, it is 25.1 years for women. The OECD average is 19.5 years for men and 23.8 years for women.
Country calculations are based on the average of male and female averages.
What is the exit age?
Considering the actual age of exit from the labor market, the age of exit from the labor market in Turkey is 60. Turkey ranks 36th among 39 countries.
It is half a year between Greece, where this age is the lowest. The country with the lowest exit age from the labor market is Greece at 59.5 years old.
The OECD average is 63.1 years old. Japan is at the top with an average age of 67.5 years. New Zealand follows with 67 years.
In some other countries, the labor market exit age is as follows: US 64.8; Mexico 64.3; England 63.5; Germany 63.1 and France 60.6.
Turkey is the country with the lowest average working life in Europe
On the other hand, Turkey has the lowest average working life among 35 countries in Europe. According to Eurostat data, while the average working life in Turkey was 29.3 years in 2019, this rate is 35.9 years in the European Union (EU).
Although Turkey is the country with the shortest average working life, the rapid increase in the last 10 years draws attention. While the average working time was 25.1 years in 2009, this increased to 29.3 years in 2019.
Turkey ranks high among OECD countries in average weekly working hours.
According to the OECD’s 2020 data, those in employment in Turkey work an average of 45.6 hours per week. In Colombia, which is at the top, this rate is 47.6 hours, while the OECD average is 37.