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Why The Average Retirement Age is Rising
From the beginning of the 20th century, the labor force participation of older men had declined steadily until the mid-1980s, when it gradually began to increase. As a result, the average retirement age for men has slowly risen from a low of 62 in 1985 to almost 65 in 2015. This upswing is bringing their average retirement age back to levels not seen since the 1960s.
Using the same measure for women as men, their average retirement age was about 62 in 2015. It should be noted that trends in women’s average retirement age reflect both their increasing labor force participation over time and the factors that affect retirement behavior.