which age are you going in pension ?

[yeckmohr]

Hi guys, i'm wondering since weeks why the greeks are make such rumors and strikes, they have to go in pension in the age of 50.
Today i heard the french guys making a strike on the streets, because the government will elevate the pension entrance age from 60 to 62.

We have to work in germany till the age of 67, that's what our government gave us 5 years ago.

How is the situation in your country ?

[Darkel]

Today i heard the french guys making a strike on the streets, because the government will elevate the pension entrance age from 60 to 62.

Transports, government workers and teachers

They'll rally behind any cause that allows them to take a day off and paint a nice protest sign.

[Thamar]

Here it's 65, early pension can happen at 60.
But then again, in 35years there will be no more pension.
On you last day of work you will get a handshake by a government official, congratulating you and giving you a couple of thousand euro's. With the money comes a letter, "you will be expected to report yourself 3 months from now at location X for determination process, enjoy the last 3 months of your life". The letter will be giving by some bloke in suit and sunglasses in the style of "Mister Anderson" 

[MIHALS]

LOL Thamar!
we also go to pension at 65 years of age

[Stoffie]

Probably will go somewhat like Thamar's vision. Or some Soylent Green scenario, in order to solve a prevalent famine problem worldwide 

[Mireia]

In Spain we go into retirement at the age of 65, but this year the Government wants to change it until 67 years.
Next September 29th we'll also be on strike (and not only because of this reason).

[spanky]

Australia now has 67 as well....  It was raised from 65 as well....

We get a guaranteed pension but must also put money into super annuation from the start of your working life so that the government doesnt have to fork out all the money....

At the moment its 9% of your weekly pay thats put away for when you retire...

[gucom]

65, but there're talks of raising the retirement age to 67. It's still fairly controversial, with some political parties in favor and others against, and the usual lobby groups arguing their points. No mass protests in the streets so far tho

[TopGearNL]

Im not going to retire..

My dad saved up his whole live, never got round to it.. And its not as if we inherited all of it, nooo the government takes a very big part..

I had a close call myself lately as you all know, so as soon as Im better its over with saving up and the money is going to roll! To hell with the pension 

[ARMAN]

when you will be old and maybe unable to work you'll have a different opinion  said that we shouldnt wait for goverment giving us something as Thamar stated there will be no pention in the near future. Investing, buing realestate, creating businesses is the only way to have a decent life now and when you are old paprika

[Midnite]

Here in Brazil is 65 years.

[wackary]

I will probably work until I die! Sad but very likely true.... I believe Social Security benefits are available at 62 but we are encouraged to work until 67! Pretty much until you are worthless, then you get to stay home and wait to die!  I know one guy who is in his 70's, has been retired since he was in his late 50's and lives a great life! He rides and restores motorcycles and has an entire garage full of very interesting rides. He also raises and trains horses. This guy is truly inspirational, he is happy, healthy and he enjoys retirement to the fullest extent.

[Schwalbe]

They'll rally behind any cause that allows them to take a day off and paint a nice protest sign.

So true !!!  That's why I'm always afraid to go in France, you never know who will be on strike and which transportation service is blocked or closed. 

Here in Canada it's 65. Personnaly I think after 65 years old I will work again but as consultant and maximum 2 or 3 days a week only. 

The big question is: We don't know if our government will have enough money to pay our pensions in couple years ????

[yeckmohr]

thanks guys and miriea for all your good answers, i read between the lines that nobody really trust the government that we will get our pension in 30 or 40 years, i pay every month 135 € to get this money when i turn 67.

so maybe in 40 years it looks here like in "the book of eli" or "the road" and we all are searching for food in an old barn or sth. fingers crossed

[danidmas]

As said, it's 65 years here, but now the government wants to increase it to 67.

Anyway, my dad got a pre-retirement pension at 53, but that was an agreement betwen my father and the bank he used to work for. Happens quite a lot in fact: many people get "fired" at 55, and the employee covers the time from 55 to the "official" retirement age of 65 with a salary about 75-to-90% of your original salary.

So true !!!  That's why I'm always afraid to go in France, you never know who will be on strike and which transportation service is blocked or closed. 

I got screwed by a french air controllers strike last March, our flight was cancelled and we had to drive to Geneva by car

[Mireia]

I got screwed by a french air controllers strike last March, our flight was cancelled and we had to drive to Geneva by car

True story!!

[ARMAN]

 

[Darkel]

So true !!!  That's why I'm always afraid to go in France, you never know who will be on strike and which transportation service is blocked or closed. 

Bah, if you follow the news a few days before you can easily anticipate such events, september is always a tense month with everybody going back to work and learning about the latest reform implemented behind their backs in august.
Government workers just waited a bit because you wouldn't want to be on strike during the holidays, what's the point 

As a whole, people cope with it, if you avoid Paris you can see that life just goes on  I don't think I've ever been directly affected by any strike.

[sentra_dude]

Like wackary said, Social Security kicks in at 62 or 67 depending on when you were born, etc. Pensions have largely disappeared from private industry in America and have been replaced with 401(k)s so I don't know that most companies really have a retirement age per se.  If you work for a state or local government (or belong to United Auto Workers) you can still be in for a pretty fat pension and I guess they have a retirement age but I'm sure it varies, and I think it generally is a combination of years worked (30 usually) and also age, min of 55 years old with 30 years served for example. 


In my profession we don't have a minimum retirement age but a mandatory retirement age! But hey it makes sense, you can't be a pilot forever. Congress just raised it a few years ago from 60 to 65 years old. After 65 you must retire as an airline pilot, but honestly most of the older captains I've talked to don't plan to work to 65, 14 hour days and 4:30am wake-ups are no fun when you are any age, much less in your 60s.


My view is to take care of my retirement savings myself. I basically view the money I pay into Social Security as funding others' retirement, and I expect to never see it again (Social Security is underfunded by trillions of dollars). The sad fact is when all of these retirement programs where promised to people in the 1930s, 40s, 50s, etc. people lived significantly shorter lives, and that math just doesn't work anymore, so people either have to work longer or not expect the government/pension money to last for their entire retirement.


I don't expect the government to hold my hand nor do I want them to and because of this I contribute to a 401(k) and Roth IRA (both tax sheltered retirement accounts invested in the stock market, very typical in the USA) and aim to save at least 10-15% a year in gross earnings for retirement. I forgo buying a lot of fancy toys and other luxuries so that I can try to meet this target each year while many people continue to spend freely and well above their means. I'm not sure that they've even thought once about their retirement or have saved any money/plan to save any money for retirement. I guess they expect the government to take care of it or they just don't care... My hope is that this saving will allow me to live a comfortable life in retirement and possibly even choose when I want to retire. Either way I'm sure I'll end up having at least some of my savings confiscated by the government in the form of taxes to pay for other people's retirements.   

[MartinR]

It should be 65 here now and if I remember correctly it's gonna rise every some years. So I'll probably never retire.