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Denmark, United Kingdom, United States: how does their system work?

At what age do you retire overseas? RTL has chosen just a few examples. Beginning with the UK, the place the age of retirement lately went from 65 to 66 and is predicted to rise to 67 by the top of the last decade. After which, 68 years after that, it is already deliberate.

This makes individuals sad, but it surely doesn’t create nationwide discontent. It should be mentioned that the general public pension system is proscribed. At full price, the quantity is identical for everybody: from the dealer to the rubbish collector. Each British retiree receives the equal of simply over €900 per 30 days. That is the case of Stewart, 82 years outdated. “We will not get by with public retirement alone”, he admits. “That is why I contributed to the pension system arrange by my firm. In all, I have to obtain €1,580 per 30 days, all inclusive”.

All firms will need to have this sort of personal system during which the employer contributes at the very least 3% and the worker at the very least 5% of his wage. It occurs that these pension funds go bankrupt and on this case, the pension regulator should intervene.

At 80, “I proceed to work as a result of I prefer it”

To pay attention


Pension reform: at 80, this Danish lady continues to work “as a result of she likes it”

00:01:03

The French on the street towards this reform. It is not the primary time nor the final, and it brings a smile to our European neighbors who usually retire later. Instance in Denmark, the place at the moment it’s 67 years outdated. It is going to be 69 in 2035 and 70 in 2040. It isn’t unusual to see very outdated individuals nonetheless at work, like this hairdresser from Copenhagen who will have fun her eightieth birthday subsequent Might.

When studying that French are on the street this Thursday, January 19 to protest towards retirement at 64, Gerti explodes with laughter. “It is too quickly, is not it?”, she asks. At virtually 80, Gerti may have retired at 65. She solely took it ten years later to make it just a little larger. Nevertheless, she has not closed her hair salon on the port of Copenhagen. She simply decreased the tempo and works 4 days per week.

“I proceed to work as a result of I like it and I like my shoppers”, she explains. “With some, we have now recognized one another for thus lengthy, we have now turn into pals, however lately, a number of have died”. That is no exception in Denmark, the place the employment price for seniors is the best in Europe. The dapper octogenarian is herself satisfied that we should always not cease too quickly.

In the USA, “not everybody has my luck”

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United States: how does the American pension system work?

00:01:50

Richard, 69, has been eager to point out off his workshop, his lair since retiring a yr in the past. “I construct a little bit of every thing like cupboards,” he says. A former government of an oil firm, he should purchase his gear with peace of thoughts, due to the beneficiant pension plan subscribed by his employer. “About 775,000 {dollars}, that is good sure!”

Particularly since this New Jersey resident additionally receives the month-to-month pension to which each and every employee is entitled, which varies in line with his wage. And for Richard it represents: “roughly 2,800 {dollars}, not everybody has my luck”. Not all People have such a snug retirement, and plenty of should work late.

That is the case of Joanne. She can also be 69 years outdated. She lives in a modest neighborhood of Queens in New York. This images instructor sums up her life like this: “Work, work, work”. A rocky profession, no financial savings to position in a retirement financial savings plan. She has no selection, due to this equation: “I’ve 1,900 {dollars} of retirement per 30 days, and a pair of,100 {dollars} of lease”. Joanne teaches in two completely different colleges, and prepares her classes on weekends. How for much longer does she see herself working? “Till dying, I’ve no selection”. What he lacks: having time. Her comfort: she loves her job

At what age do our European neighbors go away?

Nearly in all places in Europe, besides maybe in sure Scandinavian nations, the authorized age is already over 62 at the moment, as established by the Cleiss (Centre for European and Worldwide Social Safety Liaisons) which lists the completely different practices in progress with our neighbours, which we have now compiled within the interactive map above.

So, for instance, in Germanythe retirement age is presently 65 years and 10 months (for policyholders born in 1956), like spainof the Belgium or the Hungarybut it surely may enhance (from 2031) to 67, as in Italy, to Denmark, in Iceland and even in Greece. Among the many nations the place retirement is the earliest, at 62, there are Sweden, Norway and, nonetheless at the moment, France.

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