Without getting personal, who on the forum lives in a country that encourages us "oldies" to stay in the work force?

Community Bar Sport
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Hi,
I turned 66 this year, and turned 65 in the last financial year, July 2021 to June 2022.
Because I still work, pay taxes etc, our government (Australia), I have discovered gives us 65 and over a TAX REBATE.

Mine was approx $1300.00.
Nice leading up to Christmas, helps the person budget very well thankyou.

Tom... :smiley: :+1: :coffee: :australia: :santa: :santa:
PS, yes I did get my tax done late, but I always do, makes Christmas that much special.
(Helps when Car Rego and service and car club membership are within 6 weeks of each other.)

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It the UK they give you sod all.
They even had to pass a law saying you couldn't fire anyone because of age. But it was so badly drafted that firms could just get round it anyway.
Then they put the retirement age up so you can't get a pension until 66, and it is planned to increase from that over the years.

My grandad died at the age of 63 so he never saw any pension anyway.

3

Happy birthday. :+1:

Normally Joe Blow here retires at 65.

If there is a benefit to your employer to keep you on past 65 they do.

Prior to 2009 you had to retire at 65, now it’s up to you.

There is very little incentive to stay working after 65 as your company pension starts when you leave the job.

Workers here get Canada Pension at 60-65 (up to you), OAS (old age security) starts at 65.

At 65 we get an old age income tax deduction of $8,000.

4

You can still start or buy a business and take limited salary and still draw Social Security.

5

I live in Brazil.
Today I am over 72 years old. I retired at 65 and receive around R$ 1,200.00 (+-US$ 240.00) per month in retirement. A poor benefit.
I benefit from an allotment of R$ 10,000.00 (+-US$ 2,000.00) as an additional limit on the income tax limit.

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Hi,
We have compulsory Superannuation, but didn't begin contributing till then.
If I retire, the Super will not support me, so it will be pension and seek advice on my lump sum super.
The thing is a country's financial policies change so quick, even planning for 5 years time is not guaranteeing any sustainable income.
I'm fortunate I live with my step daughter, her hubby and two grand kids, we rent our house.
I pay a half the rent and utilities, so they can save for home loan, but the economy keeps moving the goal posts.

So we all get on this forum to help solve others problems to make our life worthwhile.

Working part-time is best for me, I have flexible hours and a good boss.

Tom.. :smiley: :+1: :coffee: :australia: :santa:
PS. At work at the moment waiting for spare parts.

7

Yah me too, I need a new right eye, a new toe and and a bit more hair.

:woozy_face:

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I dunno. I guess in the US they encourage you to work till you're old, by increasing benefits if you wait till larger ages to retire. But the max benefits are pretty paltry compared to your working salary. So SOME people are 'encouraged' to work long, just because they can't afford to quit.

Meanwhile, most of the big tech companies have periodic layoffs of their "bottom" people, and the highly-paid (by seniority) elders are a bit overpaid, and a bit behind and curmudgeonly compared to the new you folk who have wide-eyed enthusiasm and actual education in "the think we need now." "No one wants to hear your pdp-10 stories Bill. Cant you do a rewrite of the 20ys of code youve been writing, into Rust?"

I retired at 53, bout 10y ago. I'm told I probably wouldnt have survived the next layoffs.
But by that time my unearned income from dividends from my stock options exceeded my salary by a significant amount, so retirement is pretty easy
.

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