Retirement Age

A retirement age is an age wherein employees no longer work. There is no mandatory retirement age; however, most companies and institutions do impose a retirement age. There is no standard in retirement age and it has become more and more variable. The retirement age of the federal government is seventy and many of the companies and institutions these days have a retirement age of sixty-five. Most employees or workers start to collect their Social Security benefits at the age of sixty-two, although sixty-five is the minimum age for collecting full Social Security benefits and is steadily escalating to age sixty-seven.
A mandatory retirement age is the age of a person wherein that person who held certain profession or office is obliged by the statute or law to resign or retire. On average, the mandatory retirement ages are warranted by the contention that certain occupations or professions are too hazardous (military professions) or require high amount of physical and mental ability (pilots). Nevertheless, since the age of retirement is mandated, it tends to be a bit arbitrary and not based on the definite physical assessment of the person. Many people view this practice as one form of age prejudice or ageism.
The age of retirement generally vary from one country to another. The common age of retirement is between fifty to seventy years of age. In some nations, the age of retirement differs from male and female. On occasions, certain occupations and professions (those involving danger and fatigue) have earlier age of retirement.
In the United States, many consider sixty-five as a normal or standard age of retirement, however many individuals stop working before they reach that certain age. On the other hand, contributory grounds like job loss, disability and funds are some of factors of early retirement.
In the past, most workers have to go on working until their deaths or depend on the support of family or friends because of the absence of pension arrangements. These days, almost all developed countries have schemes to provide pensions on retirement age. These pensions are either sponsored by the employers or the State. On the other hand, in most poor nations, the support for the old is still generally provided by the family. Many of these people require assistance due to weakening health.
In most countries, those who need care but do not require regular aid prefer to live in retirement homes. A retirement home is a medical facility that provides retired workers with some extent of freedom; while those who need the highest extent of care and constant assistance may choose to live in a nursing home.
A retiree can go back to work; most retirees who go back to work have their own reasons for doing so. One of the main reasons is financial difficulties, while there are some that prefer to go back to work for the simple desire for activities.