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Post by peggs on Aug 18, 2015 22:22:34 GMT
A place to ask the questions you'd like to know the answers to - serious or silly.
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I'd like to know what kind of financial programs are in place for the elderly in countries other than the US.
Here in the US we have Social Security; a government program that most people pay into throughout their working lives which in turn provides an regular income in retirement. There are also workplace pensions (which are increasingly rare these days) and various privately funded retirement accounts that provide an income.
BTW, the retirement age in the US is 65-67, depending on DOB. At that age one can collect full Social Security benefits and be enrolled in the equivalent of a national health insurance program, called Medicare.
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Post by donavan on Aug 19, 2015 19:52:48 GMT
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Post by donavan on Aug 19, 2015 20:01:52 GMT
Don't know if the above helps but it's constantly changing and messed up. And yes private or work placed pensions and savings if you are lucky enough to have any. My work place pension will be pretty much worthless thanks to our current government moving the goal posts and passing laws to get past the high court. Nice, eh?
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Post by donavan on Aug 20, 2015 18:12:03 GMT
Is this a trough? Or is it time to call it a day?
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Post by peggs on Aug 20, 2015 20:29:06 GMT
Thanks for that information, donavan. What I couldn't find on the website was the age at which pensions can be claimed. Is it according to the number of years worked, rather than an exact date/age? Also, do you know how long this program has been in place - 50 years, 80 years, etc?
--------------- What does 'trough' mean in this context?
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Post by donavan on Aug 20, 2015 21:49:50 GMT
A point of low activity.
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Post by donavan on Aug 20, 2015 21:53:53 GMT
Dunno the other answers exactly. I can't keep up. Perhaps someone else can take up the slack. Which returns me nicely to my previous question. Innit?
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Post by donavan on Aug 21, 2015 4:32:50 GMT
I've copied and pasted this -
Until 2010 men over the age of 65 and women over the age of 60 were entitled to claim state pension. From April 2010 the age for women is gradually being harmonised to match that for men. Longer-term, the retirement age for both men and women will rise to 68 by no later than 2046 and possibly much earlier.
I think it's 67 for me.
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Post by donavan on Aug 21, 2015 4:41:35 GMT
And -
The basic state pension, then known as the "Old Age Pension" was introduced in the United Kingdom (which included all of Ireland at that time) in January 1909 following the passage of the Old Age Pensions Act 1908. The qualifying age was 70, and the pensions were subject to a means test.
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Post by donavan on Aug 21, 2015 4:46:25 GMT
My question is about this place and is a bit tongue in cheek.
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Post by donavan on Aug 21, 2015 11:43:38 GMT
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Post by donavan on Aug 21, 2015 11:46:44 GMT
This is better than chord theory
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Post by peggs on Aug 25, 2015 23:39:48 GMT
And - The basic state pension, then known as the "Old Age Pension" was introduced in the United Kingdom (which included all of Ireland at that time) in January 1909 following the passage of the Old Age Pensions Act 1908. The qualifying age was 70, and the pensions were subject to a means test. Holy cow, that's harsh. At the turn of the 20th century life expectancy in the UK was about 50, if you were lucky. Then again, in the US life expectancy was about 60 in 1935, the year the Social Security program was initiated, with a retirement age of 65. I found an interesting history of the US Social Security program for any other geeks that may be reading this.
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Post by peggs on Aug 25, 2015 23:47:15 GMT
Those are some interesting statistics, donavan. All the changes for the equalization of age for men and women are a bit mind boggling. The bean counters and number crunchers are probably giddy.
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Post by donavan on Sept 7, 2015 12:50:42 GMT
Can you buy an entire chess set in a pawn shop?
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