Which was the first country to introduce Old Age Pensions?
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 31 December 1908 a total of 596,038 pensions had been granted: Initially, most of the recipients of the pension benefit were women. In order to remove any stigma in receiving the benefit, the scheme was administered by the Post Office rather than the existing social welfare agencies such as the parish or Poor Law. Old-Age Pensions Act 1908 The Old-Age Pensions Act 1908 is an Act of Parliament of the United Kingdom, passed in 1908. The Act is often regarded as one of the foundations of modern social welfare in the United Kingdom and forms part of the wider social