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,
The Pensions Regulator of objectives: To meet these objectives The Pensions Regulator employs a risk-based approach, concentrating its resources on schemes which pose the greatest risk to the security of members’ benefits. The regulator also promotes high standards of scheme administration and works to ensure that those involved in running pension schemes have the necessary skills and knowledge. David Norgrove was appointed the first chair of The Pensions Regulator in January 2005. After 2 terms, he was replaced by Michael O'Higgins in January 2011. Lesley Titcomb has been the chief executive since March 2015. Following the January 2018 collapse of construction and services