Working longer for your pension

Miscellaneous solderx August 16, 2016 0 0
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We can not turn back there, everybody has to work longer before retirement. The current state pension system is not affordable and therefore the shovel. Since 1956 the elderly enjoy their retirement from age 65, but the system seems to be now obsolete. How is adjusted the retirement age to 2023 and how it develops after that?

Working longer for retirement

  • Introduction AOW
  • Affordability
  • In 2019 to 66 years
  • In 2023 to 67 years
  • Working longer for pension and demographic growth

Introduction AOW

After World War II there was a lot of poverty and discontent, so they wanted as laborers more and more rights. It is clear that one should work for the money, but the human body is not geared up to keep going until the end. Therefore introduced in 1956 under Minister Drees the Old Age Pensions Act, which established that:
  • anyone who has reached the right age of 65 on a state pension. In other words, anyone with that age actually stop working, or can be dismissed at that age without consequences;
  • is constructed for each year worked 2% AOW. It could therefore some people may not have collected full pension and thus are entitled to a share of the state pension.
Based on these two principles could anyone stop working once retirement age is reached.

Affordability

After World War II there has been a major baby boom, which could be gradually more and more people in the Netherlands to work. Favorable conditions for the government, because the ratio of number of pensioners relative number was working well. Because people take the last few decades later and have fewer children and therefore are relatively fewer people in the labor ?? where in addition to the baby boom generation retires ?? that relationship has become unfavorable. In addition, also appears that older people are living longer with better healthcare. In other words, fewer workers produce more pension. Because of this imbalance the pension system has become priceless, so in 2012 we decided to do something with it effectively compulsory primary to be working.

In 2019 to 66 years

It is not of course apply to be increased within one year of age in a time of two years. To this end a transitional period so that it is gradually increased. The goal is that in 2023 two years added to the food. In 2019, one must work for 66 years and this is achieved by:
  • 2013, 2014, 2015 to raise the retirement age by one month;
  • 2016, 2017, 2018 to raise the retirement age by two months a year;
  • 2019 to increase this to three months.

In 2023 to 67 years

From 2019, the retirement age is thus increased further accelerated. Increase over the last four years to 2023 takes the age each year by three months so one has to work in 2023 to 67 years. This means that there are relatively more people continue working so that the pension system more affordable. But what about after 2023?

Working longer for pension and demographic growth

How to Develop the relationship goes pensioners and workers, is highly related to the demographic development. In fact, the annual growth and decline in the population composition. The number of people employed relative to the number of people who are old now takes unfavorably and with it comes the affordability is at stake. This also means that after 2023, the age can be adapted to the actual coverage. This can mean that in 2030 we may already have to work until 68 or 69 years, to keep the state pension later and now affordable.
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