UAE retirement age raised by one year to 49

Emirati employees will be eligible for pension after 20 years of service

UAE retirement age raised by one year to 49

Emirati employees will now have to work another year before being eligible for a state pension as the retirement age rises to 49 this week.

However, employees will need to have worked for 20 years to be eligible for a United Arab Pension, according to the General Pension and Social Security Authority.

The new law was brought in due to the number of Emiratis resigning upon reaching 48, the previous retirement age. The age is expected to be raised again to 50 next year.

While Emiratis enjoy the world’s lowest retirement age, expats in the UAE cannot retire until the age of 65 .

Expats are not eligible for a UAE pension, but the gratuity scheme that sees end of service pay outs from companies to employers acts as a form of post-work income for many.

The new law will come into effect from February 28.

Here are some of the highest and lowest retirement ages from around the world.

United States: 67 years old for men and women.

Greece: 67 years old for men and women.

Norway: 67 years old for men and women.

Switzerland: 65 years old for men, 64 years old for women.

United Kingdom: 65 years old for men, 62 years and 4 months for women.

Saudi Arabia: 62 years old for men and women.

Pakistan: 60 years old for men and women.

India: 60 years old for men and women.

Turkey: 60 years old for men, 58 years old for women.

China: 60 years old for men, 55 years old for female civil servants and 50 for female workers.

Indonesia: 58 years old for men and women (the second lowest after the UAE).

United Arab Emirates: 49 for Emiratis, 65 for expats.