A long career and the longing for retirement
If you’ve been working for a long time, chances are you’re counting down the time until retirement. After an extensive and hard professional career, the long-awaited break is approaching to finally leave behind so much suffering and dedication. However, if you are a person who still has a long period left in the working world, you should know that your future is not at all favorable.
The challenge of pensions in a changing demographic context
The aging population and increased life expectancy have put the current pension system at risk. The picture is bleak for the generations to come, and they are already watching the retirement age get delayed over the years. The sustainability of pensions is surrounded by worrying uncertainty, which calls for drastic measures to try to reverse this situation.
The retirement age according to the contributions
The Government has implemented a series of pension reforms. Retirement is directly related to the time contributed, and in 2024 people who have contributed more than 38 years can retire at 65. However, workers with less paid time than mentioned will have to wait until the age of 66 years and 6 months.
The future of retirement age
The future of the retirement age is uncertain. The executive has been pushing back the retirement age since 2013 and more and more service time is required to be able to retire. From 2027, this process stops and, in principle, it will be possible to retire at 65 if you have contributed 38 years and 6 months or more. But future generations will have to work longer than their parents or grandparents in order to retire.
Delays in retirement age
The retirement age has been delayed since 2013. At that time, you could retire at 65 if you could prove 35 years and 3 months or more of contributions. Now, the time has increased to 38 years and, in 2027, to 38 years and 6 months or more. Future generations will have to work longer than their parents or grandparents in order to retire.
The challenge of pensions and the future of work
Future generations need to know that they will have to work longer than their parents or grandparents in order to retire. The current situation, with widespread inflation and the difficulties to emancipate oneself, is already generating frustration. The coming years will be even more complicated for future generations.
