Factbox: Retirement age and pensions around the world

Treasurer Joe Hockey has sparked debate about increasing the pension age, after he suggested the idea held merit in a speech to G20 finance ministers in Washington. Here is a snapshot of the official retirement age and pensions around the world, according to OECD figures.

Pensioners protest at parliament house in Melbourne (File: AAP)

Treasurer Joe Hockey has warned the government will need to make difficult decisions on the aged care pension ahead of next month's budget. The current pension age of 65 is due to rise to 67 by 2023.

So how does Australia compare with the rest of the world?

Official retirement age in 2012 in OECD countries

View a larger version of the map.

Source: OECD

Pensions at a glance in 2013