The retirement game is one of the toughest considerations for employees working abroad. This golden number affects an expat’s savings and pension plans. It is advised to create a detailed retirement plan and start saving now, regardless of your age.
Check out when expats are required to retire in the following countries;
In the UAE, 65 is the golden number. Expatriates can apply for work permits up until they are 65 years old. Expats here are not eligible for pensions, but they are offered a gratuity scheme. This is an end-of-service pay from companies, that can act as a form of bulk pension amount before leaving the country.
Small savings now can help leave you well-settled after retirement. As a start, here are eight things to stop wasting money on in 2017.
Expected retirement ages of expats in other nations
Australia - 65.5 in July 2017 for men and women.
Canada - 65 for men and women.
China - 60 years old for men and 55 years old for female civil servants, while 50 is the cut-off age for female workers.
Greece - 67 for men and women.
Indonesia - 58 years for men and women
Japan - 62 years for men and women
Norway - 67 for men and women.
Saudi Arabia - 55 for men and women.
Switzerland - 65 years old for men, 64 years old for women.
Turkey - 60 years for men, 58 years for women.
United Kingdom - 65 for men, 62 years and 4 months for women.
United States - 66 for men and women.
United Arab Emirates - 65 for male and female expats (49 for nationals)