They have changed the retirement age here in Sweden. Right now it's 65 but when I'm due it will be 67. How is it in your country?



Edited 1 time(s). Last edit at 2023-08-23 20:26 by bv.

It's been 67 here for ages, but you have a possibility to retire at 62, with different conditions.

Same here, but that age will be moved forward to 64 soon.

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Stoneage
They have changed the retirement age here in Sweden. Right now it's 65 but when I'm due it will be 67. How is it in your country?

same here in Germany – they changed it 67 some time ago. Personally, I'd be happy to work until I'm 75

66 in the UK.

But going up.

65 here, if they try too move it they get thrown out

USA is a bit different, you can get full social security at 67 but can take reduced amounts as low as 62. You get Medicare healthcare at 65. You can start to withdraw from your tax deferred retirement savings without penalty at 59 1/2. So...you have options depending on your situation.

In Italy, generally speaking the age is 68

Still 65 for the federal Old Age pension in Canada. There was a proposal to raise it to 67 a few years ago but that was withdrawn. Not 65 yet myself, but hoping to use the money to fund Stones tours when I get there. They’ll still be touring, right?

State pension in the U.K. is 66, as mentioned above. In regard to actually retiring from employment, I’d imagine the age is going up. I have a colleague aged 76, and she has no intention of retiring anytime soon. I’m a civil servant, which means, historically, you actually sign-off at 60: my late father being someone who did so. However, with the cost of living, etc, it seems they most stay on for longer.

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1963luca0
In Italy, generally speaking the age is 68

68 hell's teeth that is a bit late, do you have Free Healthcare in Italy?

Germany: as mentioned above, it's 67 years now (stepwise increased since 2012 from 65 to 67). If you can permanently live with a 14.4% deduction per month, then retirement at 63 is still possible. Special case for those who worked full 45 years (or more): retirement at 65 still possible without deductions.



Edited 1 time(s). Last edit at 2023-08-23 16:35 by Irix.

Retirement ?

Filthy word in my opinion.

These days, what with folk generally living longer than in past times, I think that many people choose to continue working beyond the formal retirement age. Some choose to, some perhaps need to, but in general - many do so. I think that often the work in question isn't necessarily a continuation of their career - so to say. It's something different, but it's still work per se nevertheless.

I, for instance, had a 44 year long career in geophysical exploration (1978 - 2022), nowadays I function as a private tutor teaching English as a second language. Nowhere near as remunerative obviously, but enjoyable, not stressful, I can do as little or as much of it as I like, and it keeps that thing between the ears ticking over !

[ I want to shout, but I can hardly speak ]

Yes, we have it, but it’s a little complicated
If you live in the North, you have excellence, you don’t if you live in the South
68 is a good age, actually: depending on your personal situation you can have a good personal income, when retired.
Sadly, it’s not so for many Italians: we are a Country where diffidences matter.

I retired at 59 but that doesn't mean I am sitting home in a rocking chair. After surviving covid I realized I had enough and getting on planes to work onsite at corporate clients was no longer what I wanted to do. I worked my 45 years in 35 by usually working 60-70 hours a week so getting it back now. Getting the opportunity to do what I want while I can now which means lots of travel for music.

The two criteria for retiring are can one afford it (with or without government retirement benefits) and does one want to continuing working or do they have other things they would rather do. Knowing how to manage ones investments goes a long way to being able to retire and that is now my "job".

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Irix
Germany: as mentioned above, it's 67 years now (stepwise increased since 2012 from 65 to 67). If you can permanently live with a 14.4% deduction per month, then retirement at 63 is still possible. Special case for those who worked full 45 years (or more): retirement at 65 still possible without deductions.

Jeepers I started Work at 11yrs old starting at 5:15 til 8:00am then from 3:45pm until 10pm, paying legit tax the whole time. So i'd be retired at 56, i'd take that.

Retirement - that golden opportunity to realize your dream and be a greeter at Walmart.

I can retire at 66 years and ten month. I'd prefer to retire last week though.

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SomeTorontoGirl
Still 65 for the federal Old Age pension in Canada. There was a proposal to raise it to 67 a few years ago but that was withdrawn. Not 65 yet myself, but hoping to use the money to fund Stones tours when I get there. They’ll still be touring, right?

In Canada, there's Canada Pension Plan, which employees pay into over the course of their working life, and Old Age Security, which is based upon how long you've lived here. You can start to collect early CPP at age 60 at a reduced rate or delay it up until age 70 and receive more. OAS you can start to receive at age 65 or delay it like CPP and receive more. Most look at 65 as normal retirement age but with inflation and high cost of living, some need to work longer.

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daspyknows
I retired at 59 but that doesn't mean I am sitting home in a rocking chair. After surviving covid I realized I had enough and getting on planes to work onsite at corporate clients was no longer what I wanted to do. I worked my 45 years in 35 by usually working 60-70 hours a week so getting it back now. Getting the opportunity to do what I want while I can now which means lots of travel for music.

The two criteria for retiring are can one afford it (with or without government retirement benefits) and does one want to continuing working or do they have other things they would rather do. Knowing how to manage ones investments goes a long way to being able to retire and that is now my "job".

I'm kinda in the same boat, spent some years traveling across country and occasionally around the world, some as a consultant working some very long hours, starting to feel my age into my 36th year of work (turning 59 next month) and probably going to call it quits next spring.

And I'll be bored in a month so will probably get a job doing something rather mindless and part time and far removed from what I do today just to stay active and earn a little beer money. Plus getting some of my health back (that is more exercise) that has somewhat been neglected the last decade as well as spending more time learning to play the guitars I have better! Possibly a move to a warmer climate after I get my kid through college in a couple years where I can live in shorts, sandals, and a t-shirt and hopefully, downsizing but into a house with a pool but first thing's first!

Oh, and yes, max out savings early if you can, things will interrupt it, having kids, time between jobs. And subscribe to Kiplinger (rather good investment monthly magazine).



Edited 1 time(s). Last edit at 2023-08-23 21:28 by kovach.

I retired from a school district in the USA at the very young age of 59. I knew I'd have a hard time adjusting so I had part-time and volunteer positions to keep me busy. All of that went away during covid. The one positive that came out of the covid experience is that now, almost 11 years after my formal retirement, I am finally retired and enjoying it.



Edited 1 time(s). Last edit at 2023-08-23 21:33 by steffialicia.

In Holland it was 65 and they changed it step wise to 67 , I was able to retire at 66 and 4 mouths and happily retired for 3.5 year now and do a bit volunteer work

__________________________

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steffialicia
I retired from a school district in the USA at the very young age of 59. I knew I'd have a hard time adjusting so I had part-time and volunteer positions to keep me busy. All of that went away during covid. The one positive that came out of the covid experience is that now, almost 11 years after my formal retirement, I am finally retired and enjoying it.

In Tennessee teachers can get full retirement after 30 years of service (so some could retire around age 52).

Military can retire after 20 years, I believe.

France raised recently the minimum pension age from 62 to 64, which is notably lower than other Western countries - [www.TheGuardian.com] , [www.Forbes.com] , [www.BBC.com] .

There are these two guys--one is 80 and the other is almost 80--that some people have said should retire...for something like the last 40 years!

But as of this writing, they are still going strong.

Down here they just rammed
it up to 67 on the 1st July 2023 .........

Theyd love ta get it higher ...

Every time theres a pollie on TV they always
lace into the conversation how the Australian
population is aging and how are we gonna pay for it ...

The propaganda wheels are always turning ... They want it ta hit 70



ROCKMAN

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Rockman

The propaganda wheels are always turning ... They want it ta hit 70

Same in Germany since many years. But if you look at obituaries & gravestones, it contradicts to the claim that people would live longer and longer.

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daspyknows
Knowing how to manage ones investments goes a long way to being able to retire and that is now my "job".

Me too, I've just turned 68 and remember once upon a time when it was suggested one million dollars would last a lifetime. Retirement age in New Zealand is 65 - many don't or can't due to cost of living expenses



Edited 1 time(s). Last edit at 2023-08-24 09:47 by midimannz.

As noted, it's currently 66 in the UK. Hit it in April and am now retired. No regrets or boredom yet!

I've always been my own boss and retired beginning of this year at age 55. No regrets so far and don't expect to get them.

Marco