Romania to Raise Retirement Age to 67 Despite Lowest EU Life Expectancy

Romania is projected to raise its retirement age to 67 for both men and women by the late 2060s, despite having one of the lowest life expectancies in the EU. This follows a broader European trend of increasing pension ages due to demographic pressures. The OECD analysis shows Romanian men entering the workforce in 2024 will retire about two years later than current pensioners, while women face a nearly five-year increase. This aligns with EU averages rising to 66.7 years for men and 66.6 years for women, with Denmark reaching 74 and Italy, Sweden, Netherlands, and Cyprus hitting 70. The increase is driven by rapid population aging, with the ratio of people over 65 per 100 working-age adults projected to rise from 33 in 2025 to 52 by 2050. However, Romania's average life expectancy of 76.6 years means citizens will spend fewer years in retirement than Western Europeans, despite contributing longer.