Monday, 4 February 2019

When is retirement in the USA

However, not everyone in America manages to secure old age. In the US, by the way, there is no such thing as a normal retirement age. A person, given his financial and personal circumstances, can decide himself when to retire.

In general, today, older people can receive a pension starting at 62 years old, although it is believed that the official retirement age in America is 65 years. The later a person decides to receive a pension, the more substantial the amount will be. For example, if you start the program of pension payments from 65 years, the pensioner will receive 100% of the payments due to him, if from 62 years - only 75%. But if you go out in 70 years - you can get 125-130%. How the amount of pension depends on age can be seen on the website of the Social Security Administration.

The largest pension is received by the former military, pilots, teachers. In addition, in America, there are many social programs for the elderly - a disability pension, a partial pay-as-you-go program “8th program”, Food Stamps food stamps and, of course, the national Medicare health insurance program. You can read more about these programs in our material.

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