China has made headlines by announcing it intends to raise its retirement age, which has long been the lowest in the world.

Australia may not be one of them, but some countries around the world still have incredibly low retirement ages.

Interestingly, several have different age specifications for men and women,

Australia

The retirement age in Indonesia is just 58 years for both men and women.This has been steadily increasing over recent years, with the last jump from 56 to 58 in 2022.While Indonesia has a relatively young population, there have still been calls to raise the retirement age even further.

Colombia

In Colombia, workers can retire at age 57 for women, and age 62 for men.

Venezuela

Several countries tie for having the second lowest retirement ages.

Women in Venezuela can retire when they are 55, while men can retire at age 60.

North Korea

In North Korea, the retirement age is 60 for men and 55 for women.

For retirees in the reclusive nation, there may be little support available for pensioners.

Iran and Uzbekistan also have their retirement age set at 60 and 55 for men and women respectively.

China

China has some of the earliest retirement ages in the world.

Women can retire at 50 if they’ve worked in a blue-collar job, or 55 if they have worked in professional or civil service careers.

Men become eligible for the pension when they are 60.

This won’t be the case forever, as China’s government announced last week that the retirement age will be gradually increased as the country tries to cope with an ageing population.

The government has not yet announced any details of the plan, but a report released in December Chinese Academy of Social Sciences, a top government think tank, estimated that everyone will be retiring at 65 eventually.

That would put China more in line with other OECD countries like Australia.

It comes as there are fears China’s state pension fund could dry up within 10 years because of its dwindling workforce.

Read more @9news