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Retirement In Germany May Rise To Age 69 While Greece Is At Age 58
Forbes ^ | 7-23-12 | Walter Loeb

Posted on 07/24/2012 1:13:45 PM PDT by TurboZamboni

Retirement In Germany May Rise To Age 69 While Greece Is At Age 58

A senior German retailer pointed out to me that the current economic environment in Europe is unfair and that retirement age for workers should be higher – not lower as the situation exists for workers in Greece. He believes that a productive country is a healthy country. He is pessimistic for the near term outlook of retail trade in Europe, saying that any bailout will lead to higher taxation and depress sales.

In 2007 Germany raised its retirement age from 65 to 67 and the German government is now talking about increasing retirement to age 69 for full pension payments to start. On the other hand Greek workers now retire at age 58 with 80% of pension payments and the country’s workers are currently agitating for a lower retirement age.

A recent survey by Wikipedia lists both early and normal retirement ages of European countries and the United States.

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy; Foreign Affairs; Germany; News/Current Events
KEYWORDS: bailout; bankrupt; euro; germany; greece; greek; pensions; retirement; unions
Early retirement Normal retirement

Country Age Age

Austria 60 65

Belgium 60 65

Denmark none 65

France 62 68

Germany 65 67

Greece 58 65

Italy 57 60

Netherland 60 65

Norway 62 67

Spain 65 67

Sweden 61 65

Switzerland 63 65

United Kingdom none 68

United States 62 65

Source: Wikipedia with recently announced modifications.

Note: Normal retirement for women in Austria is age 60 and in Switzerland age 64.

1 posted on 07/24/2012 1:13:51 PM PDT by TurboZamboni
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To: TurboZamboni

The next question should be, will companies hire someone that is 68 years old? Try and get a job here in the U.S. when you are over 65. Disability insurance for a company is most likely over $10,000.00 a year.


2 posted on 07/24/2012 1:17:01 PM PDT by RC2 (http://www.youtube.com/watch?v=nDMeDmV0ufU)
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To: TurboZamboni

This is why the euro will die. There’s no way the Germans are going to sit still for an extra eleven years of work to foot the bill for Greeks’ early retirement.


3 posted on 07/24/2012 1:24:11 PM PDT by Paine in the Neck (Socialism consumes everything)
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To: Paine in the Neck

I wonder who has bigger idiots running their gubmint, Greece or California?

“California’s Greek Tragedy”

http://www.freerepublic.com/focus/f-news/2858357/posts


4 posted on 07/24/2012 1:26:33 PM PDT by TurboZamboni (Looting the future to bribe the present)
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To: RC2

If the retirement age is raised youth unemployment in Greece will be even worse than the current horrendous rate. Plus, it must cut a huge portion of its government workforce to get even close to financial sanity.

Greece is in the position, once again, of having to export its youth.


5 posted on 07/24/2012 1:30:36 PM PDT by arrogantsob (Obama must Go. Sarah herself supports Romney.)
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To: arrogantsob

Maybe Greece should try receivership, where Greece can be auctioned off to the highest bidder to pay off its outstanding loans.

Sell some of those numerous islands.


6 posted on 07/24/2012 1:37:34 PM PDT by TurboZamboni (Looting the future to bribe the present)
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To: TurboZamboni

Stands to reason....Germany is about the only European country that makes anything that world wants to buy.Greece,OTOH,is a member of the Siesta Bloc along with Spain,Italy and a few others.*SOMEBODY’S* gotta prop up that bloc....looks like Germany’s “it”.


7 posted on 07/24/2012 1:47:29 PM PDT by Gay State Conservative (Poor Barack.If He's Reelected,Think Of The Mess He'll Inherit!)
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To: arrogantsob

Stop being so set in reality. People here like to exaggerate and bitch and moan. Common sense is not an attribute that is usually shown here.


8 posted on 07/24/2012 1:47:48 PM PDT by napscoordinator
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To: Gay State Conservative

I like their yogurt and feta cheese .

yaya says,
“you dress like a prostitute!”

http://www.youtube.com/watch?v=We3MxsWdqOc

yaya says, “this looks like the pornography!”

http://www.youtube.com/watch?NR=1&feature=endscreen&v=-n3WHPknszw


9 posted on 07/24/2012 2:12:55 PM PDT by TurboZamboni (Looting the future to bribe the present)
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To: arrogantsob
If the retirement age is raised youth unemployment in Greece will be even worse than the current horrendous rate. Plus, it must cut a huge portion of its government workforce to get even close to financial sanity.

As opposed to, what? Having a government worker retire at age 58 at 80 percent of pay? And then having to pay both the government worker AND his replacement?

The only way to solve youth unemployment is to get the economy going. And you can't with crushing public-sector debts.

10 posted on 07/24/2012 2:13:10 PM PDT by dirtboy
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To: Paine in the Neck
This is why the euro will die. There’s no way the Germans are going to sit still for an extra eleven years of work to foot the bill for Greeks’ early retirement.

The Euro SHOULD die, but it won't. The Euro-elites and Brussels have already created a lot of institutional momentum and self-interest. They will not give up so easily.

11 posted on 07/24/2012 2:37:45 PM PDT by PGR88
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To: TurboZamboni

Germans are moving to Greece.


12 posted on 07/24/2012 3:44:21 PM PDT by Berlin_Freeper
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To: TurboZamboni

The VA allowed me to work until age of 72 but because military acquired disabilities in OIF I had to retire.


13 posted on 07/24/2012 3:58:08 PM PDT by jesseam (eliev)
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To: jesseam

I have to add that retirement sucks.


14 posted on 07/24/2012 3:59:45 PM PDT by jesseam (eliev)
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To: Paine in the Neck

“This is why the euro will die. There’s no way the Germans are going to sit still for an extra eleven years of work to foot the bill for Greeks’ early retirement.”

Why not?
Aren’t they “sitting still” for such things right now?

Every move that the Merkel government (supposedly “conservative”) has made in Germany is to try to “save” the Euro and existing loans. When they should be reneging, they renegotiate.

When you see mass rallies of Germans demonstrating to “leave the Union”, then I’ll start believing the Germans have some backbone. ‘Til then, the ghosts of Hitler and Nazism prevent them from doing much that is proactive towards securing an independent, truly nationalistic future...


15 posted on 07/24/2012 4:02:20 PM PDT by Road Glide
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To: PGR88
The Euro SHOULD die, but it won't.

There's absolutely nothing wrong with the Euro or the rules set up to make it work. The problem lies squarely with the half dozen nations that ignored the rules and the others that pretended everything was fine.

The Euro, itself, had the countries observed sensible economic policies, could have led to solid prosperity.

16 posted on 07/24/2012 4:34:14 PM PDT by BfloGuy (The final outcome of the credit expansion is general impoverishment.)
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To: RC2
The next question should be, will companies hire someone that is 68 years old?

Perhaps not, but they won't lay him off to begin with. In Europe, given the labor laws, if you're still working after a couple years, you're probably there for life.

17 posted on 07/24/2012 4:37:06 PM PDT by BfloGuy (The final outcome of the credit expansion is general impoverishment.)
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To: jesseam
I have to add that retirement sucks.

Why do you not like retirement?

18 posted on 07/24/2012 5:01:04 PM PDT by OldPossum ( "it's" is the contraction of either "it is" or "it has"; "its" is the possessive pronoun)
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To: Gay State Conservative

One should be a little scared when looking at Germany as “It.”


19 posted on 07/24/2012 5:05:05 PM PDT by ichabod1 (Spriiingtime for islam, and tyranny. Winter for US and frieeends. . .)
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To: jesseam

Sorry to hear that. I truly hope you find something fulfilling to do. Paid under the table.


20 posted on 07/24/2012 5:14:32 PM PDT by ichabod1 (Spriiingtime for islam, and tyranny. Winter for US and frieeends. . .)
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To: OldPossum

I enjoyed my military career and hated to hang it up especially the flying aspect.


21 posted on 07/24/2012 8:02:26 PM PDT by jesseam (eliev)
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To: ichabod1

I miss being active in the military although I do have retirement income but would give that up to be back on active duty, My wife would like that too :-)


22 posted on 07/24/2012 8:08:03 PM PDT by jesseam (eliev)
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To: OldPossum

Re: Why do you not like retirement?

My job as an army flight surgeon gave me tremendous satisfaction, especially the flying component.


23 posted on 07/25/2012 7:57:37 AM PDT by jesseam (eliev)
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