Retirement was considered to be a state where one reaches an age of inability to work. Till the end of 19th century the working class continued in their work places.Total disability or death only stopped people from working.
Those days are no more now. Employment opportunities are tumbling down and employment seekers are multiplying. The global financial melt down has added fuel to fire. Many a number of leading manufacturing units had to discontinue their operations or cut down quantity of products. All the countries around the globe had a tough time to fight against financial crisis. Many a number of countries are not totally out of the situation. Many a number of people had to opt for early retirement due to the financial crisis engulfed the manufacturing industry. Many were laid down from service.
Retirement on attaining a particular age has become mandatory today. Though the age limit varies from country to country, as a whole almost all countries have normal retirement specified.
Most countries have specified retirement, social security and retirement pension as a fundamental right in their constitution itself.
Present retirement ages of few countries are as furnished below:
UK – 65
Sweden – 65
Belgium – 65
Spain – 65
Germany – 67
France – 65
Norway – 67
In United States Police personals are allowed to retire after 20 years of service at half pay. They can also retire after 30 years of service at three quarter of their salary. The tenure for armed force personals can go for retirement after 20 years of service. There are many parameters contributing one’s decision to opt for early retirement. Most important is the social security and the financial status of the individual. The retirement pension and social security provided in western and European countries takes care of the financial needs of the retired.
Another important situation for opting early retirement is the financial status of the individual or family. Greater wealth naturally initiates one to opt for an early retirement. The fact that wealth can buy leisure is globally known. When one receives a family inheritance and turns wealthier it is natural to start thinking of retirement from service.
Not only family inheritance, but his own substantial saving of funds at the earlier stages of service also can make him a wealthier one who can coolly think of early retirement and enjoyments at an earlier day. It is proven that wealth conditions, whether it is inheritance, savings or social security and pension has significant role to play in one’s decision for earlier retirement.
A significant reason for people to think of early retirement is their health status. Not all might maintain good health conditions. It is natural for those to start thinking of retirement from work at an earlier stage. This is more applicable in those countries where social security and pension is a fundamental right included in the constitution itself.
By any counts, retirement, whether it is early or normal, is not escapism from working and enjoyments in life. Retired ones too have all rights to lead a normal and happy life through out his life span.
[ad_2]Source by Casey Trillbar