Latest observation: 2017 for historical data and 2050 for projections. Chart 9  Expected number of years spent in retirement for the largest euro area countries (number of years)  Sources: World Bank, United Nations, Eurostat, OECD and ECB staff calculations.
Notes: The chart reflects the difference between life expectancy at birth in year t and the effective retirement age in year t. The chart is a population-weighted average for Germany, France, Italy and Spain. Latest observation: 2017. Chart 10  Old-age dependency ratios: historical data and projections (ratios)  Sources: World Bank, Eurostat, OECD and ECB staff calculations. Notes: Dashed lines denote projected values.