Retirement idea of retirement is of recent origin, being introduced during the late 19th and early 20th centuries. Previously, low life expectancy and the absence of pension arrangements meant that most workers continued to work until death. Germany was the first country to introduce retirement benefits in 1889. Nowadays, most developed countries have systems to provide pensions on retirement in old age, which may be sponsored by employers or the state. In many poorer countries, support for the old is still mainly provided through the family. Today, retirement with a pension is considered a right of the worker in many societies,
Bureau of Pensions Bureau of Pensions The Bureau of Pensions was an agency of the federal government of the United States which existed from 1832 to 1930. It originally administered pensions solely for military personnel. Pension duties were transferred to the United States Department of the Interior in 1849. The death of many pensioners in the early 1900s greatly reduced the agency's workload. The agency closed in 1930 when its duties were transferred to the Veterans Administration. The first government pensions in American history were awarded to naval officers in 1799. Naval pensions were administered by a commission composed of the Secretary of