GITNUX MARKETDATA REPORT 2024

Pension Duration Statistics

Pension duration statistics provide insights into the average length of time individuals receive pension benefits.

With sources from: businessinsider.co.za, pwc.com, timesofindia.indiatimes.com, worldbank.org and many more

Statistic 1

The average duration of drawing a pension in the U.S is around 18 years for men and 20 years for women.

Statistic 2

In 2019, more than 46% of American adults had no pension after retirement.

Statistic 3

The average Australian will spend 23 years in retirement, indicating roughly the pension duration.

Statistic 4

Nearly 46% of non-retired UK adults have no private pension provision.

Statistic 5

Approximately 69% of Canadians have a plan for retirement income such as pensions.

Statistic 6

In Canada, the average retiree started receiving their pension at the age of 63.6 years in 2019.

Statistic 7

The average duration for collecting pensions in Germany is 19 years.

Statistic 8

In France, the average pension duration is 27 years, the longest in the whole of Europe.

Statistic 9

As of 2018, Mexico had an average pension duration of 17 years.

Statistic 10

In Italy, about 35% of the population were receiving pension benefits in 2021.

Statistic 11

As of 2020, Indian consumers spent an average of 20 years in retirement, indicating the average pension duration.

Statistic 12

In South Korea, the average duration of a pension was 17.5 years in 2019.

Statistic 13

In Russia, about 24% of the population were receiving pension benefits in 2020.

Statistic 14

In Poland, more than 70% of the elderly population (over 65 years) receive a pension.

Statistic 15

In Vietnam, the average duration of receiving pensions for retirees was 17 years.

Statistic 16

In Spain, the average retirement age in 2019 was around 64.7 years hinting average pension duration being around 20 years.

Statistic 17

In South Africa, only 6% of the population will maintain their living standards in retirement i.e., receiving pensions.

Statistic 18

In Brazil, the average retirement age for men as of 2019 was 59.4, indicating that with a life expectancy of around 72, the pension duration is roughly 13 years.

Statistic 19

In Norway, the average duration of a pension is approximately 21 years.

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In this post, we explore pension duration statistics from various countries around the world. From the average duration of receiving pensions to the percentage of populations without pension provisions, these statistics provide insights into retirement trends globally.

Statistic 1

"The average duration of drawing a pension in the U.S is around 18 years for men and 20 years for women."

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Statistic 2

"In 2019, more than 46% of American adults had no pension after retirement."

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Statistic 3

"The average Australian will spend 23 years in retirement, indicating roughly the pension duration."

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Statistic 4

"Nearly 46% of non-retired UK adults have no private pension provision."

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Statistic 5

"Approximately 69% of Canadians have a plan for retirement income such as pensions."

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Statistic 6

"In Canada, the average retiree started receiving their pension at the age of 63.6 years in 2019."

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Statistic 7

"The average duration for collecting pensions in Germany is 19 years."

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Statistic 8

"In France, the average pension duration is 27 years, the longest in the whole of Europe."

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Statistic 9

"As of 2018, Mexico had an average pension duration of 17 years."

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Statistic 10

"In Italy, about 35% of the population were receiving pension benefits in 2021."

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Statistic 11

"As of 2020, Indian consumers spent an average of 20 years in retirement, indicating the average pension duration."

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Statistic 12

"In South Korea, the average duration of a pension was 17.5 years in 2019."

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Statistic 13

"In Russia, about 24% of the population were receiving pension benefits in 2020."

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Statistic 14

"In Poland, more than 70% of the elderly population (over 65 years) receive a pension."

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Statistic 15

"In Vietnam, the average duration of receiving pensions for retirees was 17 years."

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Statistic 16

"In Spain, the average retirement age in 2019 was around 64.7 years hinting average pension duration being around 20 years."

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Statistic 17

"In South Africa, only 6% of the population will maintain their living standards in retirement i.e., receiving pensions."

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Statistic 18

"In Brazil, the average retirement age for men as of 2019 was 59.4, indicating that with a life expectancy of around 72, the pension duration is roughly 13 years."

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Statistic 19

"In Norway, the average duration of a pension is approximately 21 years."

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Interpretation

The statistics on pension duration worldwide reveal significant variations among countries, with average durations ranging from 13 years in Brazil to 27 years in France. While some countries like Canada and Australia show relatively long retirement periods, others such as Mexico and South Korea have shorter durations. The data underscores the importance of pension planning and saving for retirement, especially in countries where a significant portion of the population lacks pension provisions. It is evident that retirement security remains a critical issue globally, with disparities in pension access and longevity that warrant attention and action to ensure financial stability in old age.

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