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 the Republic of Ireland but a slim majority of 53% acknowledge the fiscal need to raise the eligibility age. More changes to the qualifications for the Contributory State Pension are expected to be rolled out in 2020. These changes are being implemented to shift more future pensioners over to Contributory State Pensions in an attempt to reduce the fiscal impact of the pension system. Currently 19% of pensioners are on Non-Contributory State Pensions and spending on these pensions makes up 16 % of the budget. These changes will not affect those currently on Non Contributory Pensions. Pensions in the Republic of Ireland Compared to