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 Ukraine Pensions in Ukraine Pensions in Ukraine are provided pursuant to the Law of Ukraine on Compulsory State Pension Insurance(statements of the Ukrainian Supreme Council,2003,№№ 49-51,art.376) that stipulates the three-tiered pension provision system. It is appropriate to take a look at this system in order to understand how pensions are paid out as well financed and which indicators influences pension calculation. This level is otherwise described as solidarity system since it is based on solidarity and subsidizing principles. So within this framework pensions are assigned according to the achieving of certain age( 60 for men and 58,5 for women),invalidity and loss