Retirement age in the world: features of the calculation of pensions, low and high retirement age

In each state the retirement age is different. To go on a well-deserved rest, citizens of countries must undergo the appropriate procedure. The retirement age in the world is calculated according to the same principle - the average life expectancy of people is taken into account.

Pensions in the world

There are several types of systems for which the pension is calculated. But the definition of retirement age in the world is the same.

Benefits can be accrued on an individual-funded plan, according to the system of tax distribution.

Age of men

Legislation of most countries, the retirement age in the world for men and women has differences. Countries where both sexes can simultaneously go on a well-deserved rest are not enough. The world's retirement age is different for women and men.

Men are considered to be the main earners of means of subsistence, so they are expected to have a later retirement. Below is a table of the retirement age in the world for men.

Age of women

By law, most countries are allowed to leave to rest women before men. As the table shows, the retirement age in the countries of the world for women differs in most states.

Retirement

Each state tries to keep the pension system in a stable state, but it is difficult to keep it permanently in the modern world. Therefore, the retirement age in the countries of the world began to rise. In some, the issue of raising the age is actively discussed.

The crisis affected every country. After the analysis it was found out that the countries do not have enough money for all expenses. This led to an increase in the retirement age. After all, it is easier to get people to work longer, while receiving additional staff and reducing government spending on providing citizens.

Proceeding from this, it can be concluded that in every country in the world the age of retirement is not clear and can change.

Features of the systems of calculation and retirement

Different systems of calculating pensions are used in different countries of the world. However, in foreign countries, not one system is used, but a combination of two or three.

1. The system is individually funded. It is a way of accumulating pension funds, which citizens themselves transfer to pension funds. The employer can also do this. The amount of the monthly payment is calculated from the accumulated amount.
2. A distribution system based on pension taxes. This kind involves transferring some of the money from earnings to retirees. As a result of this system of calculation, after retirement, pensioners receive their payments at the expense of working people.
3. Distributive system, developed on the basis of general taxes. This type assumes the calculation of payments for which funds from the tax fund are used.

Retirement Plans

A number of states decided to amend the pension legislation. Ukraine plans to increase the retirement age for women to sixty years. These changes should enter into force in 2021. Some categories of Russian citizens will also now retire later. This applies to civil servants, politicians. Under the new plan, since 2025 they will retire at the age of 60 and 65 years. The difference in age at retirement in men and women will persist.

In Kazakhstan, in 2018, it is planned to equalize the age of men and women who decided to retire to a well-deserved rest up to 63 years. In the US, the government plans to increase the age from 65 to 69 years. In this country, men and women retire together.

The latest retirement

In some countries, the highest retirement age is observed. In Japan, men and women can retire at the age of seventy. In this country, a fairly high standard of living and a long average period of life. These are excellent indicators, allowing so late to go on vacation.

Albania is not far behind Japan. Here, people retire at the age of 69.5 and 64.5 years. It takes a long time to work in Denmark. In this country, people can retire at the age of 67. There is no division for men and women, everyone goes on vacation at one time.

The lowest retirement age

The pension systems of each country are constantly being amended. In 2017, the lowest retirement age in the world in countries such as Russia, Ukraine, Belarus, Turkey. In these countries, men go on vacation at sixty years, and women - at fifty-five. However, in Turkey, women are allowed to retire from 56 years of age.

Early retirement in these countries does not mean that they have a highly developed economy. In Russia, Belarus, Ukraine and some other countries of the world, where it is allowed to go out early to rest, there is a low average life expectancy. This suggests that the countries are not prosperous enough.

Amount of payments

In different countries of the world the amount of payments is different. Mostly pensioners living in France, Germany, Japan, the USA receive. In these countries, they are paid from 25 to 45 thousand rubles (when converted to Russian rubles).

The pensioners of Georgia, Uzbekistan, Moldova and Argentina receive the least. In these countries people are paid less than five thousand rubles. The citizens of Russia, Belarus, Ukraine, and Azerbaijan receive a little more.

Each country has its own characteristics of retirement and the calculation of its amount. For some, an output of 50 is envisaged, and somewhere people are forced to work up to 70 years.