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,
Old-Age Pensions Act 1908 age of 70, with the cost being borne by younger generations. It was enacted in January 1909 and paid a weekly pension of 5s a week (7s 6d for married couples) to half a million who were eligible. The level of benefit was deliberately set low to encourage workers to also make their own provision for retirement. In order to be eligible, they had to be earning less than £31. 10s. per year, and had to pass a 'character test'; only those with a 'good character' could receive the pensions. One also had to have been a UK resident for