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,
Pensions in Denmark pensions. These cover a significant portion of the population, sometimes much more than just the workforce. Supplementary pensions are institutionally and by ways of funding similar to the occupational system. In Denmark, the public pension consists of two tiers. The first tier provides a universal income to people over the age of 65. This pension is paid to anyone that meets its qualifications, regardless of a retiree's contributions. As of 2015, the maximum amount a person could receive was DKK 70.896 (US$10,081). However, it is means-tested, so it can be adjusted for higher income individuals. Normally, the pension is reduced