Israel, Iceland, and Norway had the highest current retirement ages worldwide of the 45 countries included at 67 years. Meanwhile, Indonesia had the highest effective retirement age at 69.

This dataset provides values for RETIREMENT AGE MEN reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

This dataset provides values for RETIREMENT AGE WOMEN reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Monaco is the country with the highest median age in the world. The population has a median age of around 57 years, which is around six years more than in Japan and Saint Pierre and Miquelon – the other countries that make up the top three. Southern European countries make up a large part of the top 20, with Italy, Slovenia, Greece, San Marino, Andorra, and Croatia all making the list. Low infant mortality means higher life expectancy Monaco and Japan also have the lowest infant mortality rates in the world, which contributes to the calculation of a higher life expectancy because fewer people are dying in the first years of life. Indeed, many of the nations with a high median age also feature on the list of countries with the highest average life expectancy, such as San Marino, Japan, Italy, and Lichtenstein. Demographics of islands and small countries Many smaller countries and island nations have populations with a high median age, such as Guernsey and the Isle of Man, which are both island territories within the British Isles. An explanation for this could be that younger people leave to seek work or education opportunities, while others choose to relocate there for retirement.

In 2019, 38 percent of high income millennials in the United States planned to retire between the ages of 60 and 70. Only three percent said that they never plan to retire.

Retirement Communities Market Outlook

The global retirement communities market size was valued at approximately USD 250 billion in 2023 and is projected to reach around USD 400 billion by 2032, growing at a CAGR of about 5%. This growth is primarily driven by the aging global population, an increase in life expectancy, and changing lifestyle preferences among seniors. The shift towards comprehensive care and the integration of health and wellness services within retirement communities have further fueled this market's expansion. As societies worldwide continue to experience demographic shifts, the demand for retirement communities that offer a blend of healthcare, hospitality, and recreational amenities is expected to surge, underpinning the robust growth trajectory of the sector.

The burgeoning aging population is one of the primary growth factors for the retirement communities market. As advances in healthcare continue to improve life expectancy, a significant proportion of the global population is projected to fall within the senior age bracket, necessitating adequate living solutions for them. This demographic shift is particularly pronounced in developed regions such as North America and Europe, where a considerable percentage of the population is transitioning into retirement age. Additionally, emerging economies in Asia Pacific are also witnessing an increase in the elderly population, driven by improved healthcare infrastructure and living standards. This demographic evolution necessitates the development of retirement communities equipped with facilities that cater to both the healthcare and lifestyle needs of seniors.

Another significant growth factor is the increased financial independence and spending power among seniors. With many from the baby boomer generation having accrued substantial savings and investments, there is a growing willingness to spend on quality living environments that provide comfort, security, and access to healthcare and recreational activities. This financial capability, coupled with the desire for a community living environment that offers social interaction and reduces isolation, is a key driver for the retirement communities market. Furthermore, these communities are increasingly incorporating technology to enhance the quality of life for residents, with features such as telemedicine, smart home technologies, and digital health monitoring, which are appealing to the tech-savvy senior demographic.

Moreover, the changing societal norms and lifestyle preferences among the elderly are also contributing to the market's growth. TodayÂ’s seniors are more active and health-conscious than ever before, seeking retirement communities that offer wellness programs, fitness centers, and social activities that align with their lifestyle choices. The emphasis on holistic well-being has led to a rise in integrated community models that provide a continuum of care, from independent living to assisted living and nursing care, allowing seniors to age in place with dignity and peace of mind. This trend is expected to intensify in the coming years, further propelling the growth of the retirement communities market globally.

In recent years, the concept of Smart Communities has emerged as a transformative force within the retirement sector. These communities leverage advanced technologies to create interconnected environments that enhance the quality of life for residents. By integrating smart home devices, IoT solutions, and data-driven services, Smart Communities offer personalized and efficient living experiences. This technological integration not only improves safety and convenience for seniors but also promotes sustainable living practices. As the demand for tech-savvy solutions grows, retirement communities are increasingly adopting smart technologies to meet the evolving expectations of their residents, positioning themselves at the forefront of innovation in senior living.

Regionally, North America currently holds the largest share of the retirement communities market, driven by a well-established infrastructure, high disposable incomes, and a significant aging population. Europe follows closely, benefiting from similar demographic trends and a strong emphasis on social welfare programs for the elderly. Meanwhile, the Asia Pacific region is anticipated to exhibit the highest growth rate over the forecast period, fueled by rapid urbanization, economic growth, and increasing healthcare investments. Countries such as China, Japan, and India are at the forefront of this expansion, as they adapt to th

Monaco had the highest life expectancy among both men and women worldwide as of 2024. That year, life expectancy for men and women was ** and ** years, respectively. The East Asian countries and regions, Hong Kong, Japan, South Korea, and Macao, followed. Many of the countries on the list are struggling with aging populations and a declining workforce as more people enter retirement age compared to people entering employment.

Ukraine Average Monthly Pension: ow by Age data was reported at 1,808.900 UAH in 2016. This records an increase from the previous number of 1,690.300 UAH for 2015. Ukraine Average Monthly Pension: ow by Age data is updated yearly, averaging 370.750 UAH from Dec 1993 (Median) to 2016, with 24 observations. The data reached an all-time high of 1,808.900 UAH in 2016 and a record low of 3.069 UAH in 1993. Ukraine Average Monthly Pension: ow by Age data remains active status in CEIC and is reported by State Statistics Service of Ukraine. The data is categorized under Global Database’s Ukraine – Table UA.G022: Pensioners and Employee Benefits.

In 2023, about 17.7 percent of the American population was 65 years old or over; an increase from the last few years and a figure which is expected to reach 22.8 percent by 2050. This is a significant increase from 1950, when only eight percent of the population was 65 or over. A rapidly aging population In recent years, the aging population of the United States has come into focus as a cause for concern, as the nature of work and retirement is expected to change to keep up. If a population is expected to live longer than the generations before, the economy will have to change as well to fulfill the needs of the citizens. In addition, the birth rate in the U.S. has been falling over the last 20 years, meaning that there are not as many young people to replace the individuals leaving the workforce. The future population It’s not only the American population that is aging -- the global population is, too. By 2025, the median age of the global workforce is expected to be 39.6 years, up from 33.8 years in 1990. Additionally, it is projected that there will be over three million people worldwide aged 100 years and over by 2050.

In 2022, the state with the highest median age of its population was Maine at 45.1 years. Utah had the lowest median age at 32.1 years. View the distribution of the U.S. population by ethnicity here.

Additional information on the aging population in the United States

High birth rates during the so-called baby boom years that followed World War II followed by lower fertility and morality rates have left the United States with a serious challenge in the 21st Century. However, the issue of an aging population is certainly not an issue unique to the United States. The age distribution of the global population shows that other parts of the world face a similar issue.

Within the United States, the uneven distribution of populations aged 65 years and over among states offers both major challenges and potential solutions. On the one hand, federal action over the issue may be contentious as other states are set to harbor the costs of elderly care in states such as California and Florida. That said, domestic migration from comparably younger states may help to fill gaps in the workforce left by retirees in others.

Nonetheless, aging population issues are set to gain further prominence in the political and economic decisions made by policymakers regardless of the eventual distribution of America’s elderly. Analysis of the financial concerns of Americans by age shows many young people still decades from retirement hold strong concern over their eventual financial position.

Pension Finance Market Outlook

The global pension finance market size is projected to grow from USD 4.5 trillion in 2023 to USD 7.8 trillion by 2032, with a compound annual growth rate (CAGR) of 6.2%. This robust growth is driven by the increasing need for financial security during retirement, rising life expectancy, and greater awareness about the importance of comprehensive retirement planning.

The growth of the pension finance market can be attributed to demographic shifts, particularly the aging population in many parts of the world. As life expectancy increases, the duration of retirement also extends, leading to a greater need for substantial retirement savings. This demographic trend is particularly pronounced in developed regions such as Europe and North America, where a significant portion of the population is entering retirement age. Governments and employers are increasingly focusing on pension reforms and initiatives to ensure that individuals have sufficient savings to support themselves in their non-working years.

Additionally, the rising awareness and importance of retirement planning among individuals is driving the market growth. With the volatility of financial markets and uncertainties surrounding public pension systems, there is a growing recognition of the need for private pension plans to supplement state-provided benefits. Financial literacy programs and initiatives by various organizations have also contributed to a better understanding of retirement planning, further propelling the market forward. Employers are also playing a key role by offering attractive pension plans as part of their employee benefits packages to retain and attract talent.

The advancement in financial technology and digital platforms is another significant growth driver in the pension finance market. FinTech solutions have made it easier for individuals to access and manage their pension plans, offering greater transparency and convenience. Automated investment advisory services, robo-advisors, and mobile applications have made it simpler for people to monitor their retirement savings and make informed investment decisions. This technological integration has not only increased participation in pension plans but has also enhanced the overall user experience, driving market growth.

Regionally, North America and Europe dominate the pension finance market, driven by well-established pension systems and high levels of retirement savings awareness. However, the Asia Pacific region is expected to witness the fastest growth during the forecast period, driven by rapid economic development, increasing life expectancy, and expanding middle-class population. Countries like China and India are seeing significant growth in their pension finance markets as governments focus on enhancing social security systems and encouraging private pension plans.

Type Analysis

Defined Benefit Plans (DB) have traditionally been the cornerstone of the pension finance market, especially in the public sector. Under these plans, retirees receive a predetermined monthly benefit, which is calculated based on factors such as salary history and years of service. The stability and predictability of DB plans make them highly attractive to employees. However, they pose significant financial burdens on employers, particularly when actuarial assumptions about investment returns or life expectancy are inaccurate. This has led to a shift towards Defined Contribution Plans in recent years.

Defined Contribution Plans (DC) are increasingly gaining traction, particularly in the private sector. Unlike DB plans, DC plans involve contributions from both employees and employers into individual accounts, with the retirement benefits depending on investment performance. This shift transfers the investment risk from employers to employees, making it a more sustainable option for companies. The flexibility and portability of DC plans also make them appealing to a modern workforce that values mobility and customization of retirement savings.

Hybrid Plans combine elements of both DB and DC plans to offer a balanced approach. These plans aim to provide a guaranteed base benefit while also allowing for individual investment choices. Hybrid plans are particularly attractive as they offer the security of a DB plan with the growth potential of a DC plan. Employers also find hybrid plans beneficial as they can manage the financial risks better while still offering competitive retirement benefits.

As the market evolves, innovative pension plan structur

Hungary Central Government Expenditure: Year to Date: FS: Provisions Below Retirement Age data was reported at 77,047.011 HUF mn in Oct 2018. This records an increase from the previous number of 69,505.105 HUF mn for Sep 2018. Hungary Central Government Expenditure: Year to Date: FS: Provisions Below Retirement Age data is updated monthly, averaging 73,350.111 HUF mn from Jan 2012 (Median) to Oct 2018, with 82 observations. The data reached an all-time high of 279,982.398 HUF mn in Dec 2012 and a record low of 7,776.594 HUF mn in Jan 2017. Hungary Central Government Expenditure: Year to Date: FS: Provisions Below Retirement Age data remains active status in CEIC and is reported by Hungarian State Treasury. The data is categorized under Global Database’s Hungary – Table HU.F009: Central Government Revenue and Expenditure.

United States CES: Below 25Yrs: IBT: Social Security, Pvt & Govt Retirement data was reported at 212.000 USD in 2017. This records a decrease from the previous number of 214.000 USD for 2016. United States CES: Below 25Yrs: IBT: Social Security, Pvt & Govt Retirement data is updated yearly, averaging 155.500 USD from Dec 1984 (Median) to 2017, with 34 observations. The data reached an all-time high of 740.000 USD in 2012 and a record low of 38.000 USD in 1988. United States CES: Below 25Yrs: IBT: Social Security, Pvt & Govt Retirement data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s USA – Table US.H043: Consumer Expenditure Survey: By Age Group.

In 2023, the median age of the population of the United States was 39.2 years. While this may seem quite young, the median age in 1960 was even younger, at 29.5 years. The aging population in the United States means that society is going to have to find a way to adapt to the larger numbers of older people. Everything from Social Security to employment to the age of retirement will have to change if the population is expected to age more while having fewer children. The world is getting older It’s not only the United States that is facing this particular demographic dilemma. In 1950, the global median age was 23.6 years. This number is projected to increase to 41.9 years by the year 2100. This means that not only the U.S., but the rest of the world will also have to find ways to adapt to the aging population.

Kazakhstan Number of Pensioners: Military Structures: Retirement data was reported at 91.400 Person th in 2017. This records an increase from the previous number of 83.000 Person th for 2016. Kazakhstan Number of Pensioners: Military Structures: Retirement data is updated yearly, averaging 55.800 Person th from Dec 2000 (Median) to 2017, with 18 observations. The data reached an all-time high of 91.400 Person th in 2017 and a record low of 42.700 Person th in 2002. Kazakhstan Number of Pensioners: Military Structures: Retirement data remains active status in CEIC and is reported by The Agency of Statistics of the Republic of Kazakhstan. The data is categorized under Global Database’s Kazakhstan – Table KZ.G031: Average Monthly Pension and State Social Benefits (Annual).

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Senior Living Market Size 2025-2029

The senior living market size is forecast to increase by USD 130.9 billion, at a CAGR of 5.8% between 2024 and 2029.

The market is experiencing significant growth and transformation, driven primarily by the aging baby boomer population. This demographic cohort, the largest in history, is entering the age bracket requiring senior living solutions. The increasing prevalence of age-related health issues necessitates specialized care and accommodation, creating a burgeoning demand for senior living facilities. However, this market is not without challenges. Technological advances in long-term healthcare are transforming the senior living landscape, necessitating significant investments in infrastructure and staff training. These advancements include telehealth, remote monitoring, and automated systems, which aim to enhance care quality and efficiency.
Moreover, staffing and workplace challenges persist as the senior living industry grapples with attracting and retaining skilled workers. The physical and emotional demands of caregiving, coupled with low wages and long hours, make it a challenging profession. Addressing these staffing issues through competitive compensation, benefits, and training programs is crucial for providers seeking to maintain high-quality care and operational excellence.

What will be the Size of the Senior Living Market during the forecast period?

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The market continues to evolve, with dynamic market activities unfolding across various sectors. Community outings remain a crucial aspect of senior living, providing opportunities for social engagement and enrichment. Nursing homes and residential care facilities offer essential services for those requiring round-the-clock care, while continuing care communities cater to the diverse needs of seniors as they age. Senior living communities, including those specializing in Alzheimer's care and memory care, prioritize resident safety through rigorous regulatory compliance and advanced health information technology. Personal care and rehabilitation services help seniors maintain their independence and improve their quality of life. Capital expenditures for skilled nursing and retirement homes remain a significant focus, with ongoing investments in caregiver training, emergency response systems, and electronic health records.

Long-term care insurance plays a vital role in financing these services, ensuring seniors receive the care they need. Life enrichment programs, such as fitness centers, wellness programs, and volunteer opportunities, promote overall well-being and help seniors stay active and engaged. Continuous innovation in areas like smart homes, universal design, and hospice care further enhances the senior living experience. Operating costs, including staffing ratios, medication management, and infection control, are critical considerations for senior living providers. Ongoing regulatory compliance and the integration of technology help mitigate these costs while maintaining high-quality care. In the ever-changing senior living landscape, providers must remain agile and adapt to the evolving needs of their residents.

From independent living to post-acute care, the focus remains on enhancing the quality of life for seniors through personalized care, community engagement, and ongoing innovation.

How is this Senior Living Industry segmented?

The senior living industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Service

  Assisted living
  Independent living
  CCRC


Services

  Healthcare Services
  Lifestyle and Wellness Programs
  Dining Services


Technology Integration

  Smart Home Systems
  Health Monitoring Devices
  Safety and Security Systems


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Service Insights

The assisted living segment is estimated to witness significant growth during the forecast period.

Assisted living arrangements provide apartment-style dwellings for aging adults who require assistance with activities of daily living, such as bathing, doing laundry, and managing medications. These communities offer various levels of care, including memory care units for individuals with cognitive impairments, which may include increased security measures and restricted kitchen access for safety reasons. The demand for specialized memory care units is growing as the population ages and the prevalence of conditions l

Kazakhstan Average Monthly Pension: Retirement in Military Service data was reported at 114,166.000 KZT in Jun 2018. This records a decrease from the previous number of 114,425.000 KZT for Mar 2018. Kazakhstan Average Monthly Pension: Retirement in Military Service data is updated quarterly, averaging 33,564.000 KZT from Dec 2000 (Median) to Jun 2018, with 71 observations. The data reached an all-time high of 114,425.000 KZT in Mar 2018 and a record low of 11,229.000 KZT in Dec 2000. Kazakhstan Average Monthly Pension: Retirement in Military Service data remains active status in CEIC and is reported by The Agency of Statistics of the Republic of Kazakhstan. The data is categorized under Global Database’s Kazakhstan – Table KZ.G030: Average Monthly Pension and State Social Benefits.

By 22034033, the number of military retirees in the United States is expected to reach 2.37 million; an increase from an estimated 2.27 million retirees in 2024. Military retirement pay In the U.S., military retirement refers to pension and benefit plans for those who have accumulated 20 or more years of active service. There are different factors that influence how much is paid out to different veterans, which includes length of service, disability percentage, the year the person entered the military, and type of retirement. The total payment for military retirees is expected to continue to increase, as well as their average benefits. However, the total outlays for the military retirement trust fund is expected to fluctuate, but ultimately rise over the next decade. U.S veterans The United States has one of the largest militaries in the world based on active personnel and has the largest defense budget in the world. However, many veterans in the U.S. struggle to find a job and find affordable housing when they return from deployment due to factors such as post-traumatic stress disorder and physical disabilities. The Department of Veteran Affairs seeks to help those coming back from training or combat assimilate back into everyday life.

As of June 2024, there were approximately 320,490 residents between the ages of 30 to 34 years old in Singapore, making it the largest age group among its resident population. This reflects the increasingly aging population of Singapore, a significant demographical shift that will have long-lasting socio-economic repercussions. Living longer… The improvements in health care and quality of life has led to Singapore having one of the highest life expectancies in the world. Coupled with one of the lowest fertility rate globally, Singapore society faces a crisis of aging. The average age of its resident population is projected to increase to just under 51 years old by 2050. …and working longer The prospect of an aging population is worrying for a country whose most important resource is its people. The current retirement age of 62 would no longer be tenable when close to half the population is expected to be aged 65 years or older by 2050. There is already a trend of elderly workers re-entering the workforce, be it to keep themselves occupied or to support themselves financially. The share of the population who would be working well into old age looks set to increase in the future, as a majority of Singaporeans have indicated that they were not financially prepared for old age.Singapore is well-known for its emphasis on career and shunning welfare policies; however, there is an urgent need to rethink and overhaul its social security and medical care systems to weather the silver tsunami that is set to engulf the island state.

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Retirement Communities Market Size 2025-2029

The retirement communities market size is forecast to increase by USD 47.4 billion at a CAGR of 4.9% between 2024 and 2029.

The market is experiencing significant growth, driven by the rising life expectancy and the resulting demand for specialized living arrangements for the aging population. This demographic shift presents favorable business opportunities for real estate developers, particularly those who can offer innovative and high-quality solutions tailored to the unique needs of seniors. Regulatory compliance is paramount, with licensure requirements and accreditation standards ensuring quality healthcare services, such as geriatric care, skilled nursing, rehabilitation, and hospice care. However, the market also faces challenges, including the need to provide proper healthcare solutions and addressing the diverse requirements of an aging population with varying health conditions and income levels.
Effectively navigating these challenges and capitalizing on the opportunities requires a deep understanding of the evolving needs and preferences of the senior demographic, as well as the ability to offer flexible and comprehensive solutions that address their physical, emotional, and social needs. Companies that can successfully meet these demands will be well-positioned to thrive in this dynamic market. Outright purchases, leases or rentals, and hybrid models are all viable options for seniors, depending on their financial situation and lifestyle preferences. Senior living marketing strategies are focussing on addressing the demands and touch points of prospects.

What will be the Size of the Retirement Communities Market during the forecast period?

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The market encompasses a range of senior housing options, including life care communities, assisted living facilities, and active adult communities. Security measures, emergency response systems, and memory care units cater to the unique needs of the aging population, particularly those with Alzheimer's disease. Capital expenditures for housing options, staffing ratios, and caregiver training programs are essential for maintaining resident satisfaction. Financial planning services, estate planning, and long-term care insurance are crucial for managing the financial aspects of retirement living.
Housing options span from independent living facilities to age-restricted communities, catering to various needs and preferences. Attractive financing options, availability of land, and various models, including outright purchases, leases or rentals, hybrid models, and senior living facilities, cater to diverse lifestyle preferences and budgets. Wellness centers, community resources, and transportation services contribute to the overall quality of life. Optometry, pharmaceutical, and palliative care programs further enhance the comprehensive range of services offered. Turnover rates in retirement communities remain a significant consideration, with ongoing staff training and Medicare and Medicaid coverage playing crucial roles in addressing workforce challenges. Fire safety systems and certification programs ensure the safety and security of residents.

How is this Retirement Communities Industry segmented?

The retirement communities industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Assisted living facilities
  Continuing care retirement communities
  Rest homes


Application

  Elderly people
  Disabled people


Gender

  Female
  Male


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  Rest of World (ROW)

By Type Insights

The assisted living facilities segment is estimated to witness significant growth during the forecast period. Assisted living communities within the retirement market cater to seniors who necessitate aid with activities of daily living but do not warrant continuous medical supervision. These facilities provide essential services such as meal preparation, housekeeping, medication management, and personal care assistance to uphold residents' autonomy and enhance their living experience. Assisted living residences are meticulously designed to emulate a homelike atmosphere, featuring private or semi-private living quarters and communal spaces for social interaction and recreational activities. Many establishments offer additional amenities, including fitness centers, libraries, beauty salons, and transportation services, to encourage residents' physical and mental w