Legal retirement age

Legal retirement age is the age at which a person can receive full retirement benefits from the government or private pension plans. It is usually set by law and varies from country to country. In some countries, the retirement age is gradually increasing due to concerns over the sustainability of pensions and an aging workforce. Other countries allow early retirement with reduced benefits, providing people an opportunity to enjoy a longer retirement while managing the costs associated with pension systems. The legal retirement age is an important policy issue as it affects individuals' financial security and the sustainability of social welfare systems.

This mind map was published on 12 June 2023 and has been viewed 94 times.