From October 2017, the retirement age is 60 for women and 65 for men. Seniors who have reached it can retire. Is it worth doing it right away? The president of ZUS, Prof. Gertruda Uscinska.
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Is it worth retiring right away? President of ZUS: Early retirement means lower benefits
Benefits paid from the Social Insurance Fund are calculated as a defined contribution. Simply put, this means that the more contributions a person pays and the later they switch to , the higher the benefit they will receive. – Early retirement means lower benefits. Postponing the decision to retire for a year can increase the future benefit by as much as 10 to 15 percent. – admitted the president of ZUS Gertruda Uścińska quoted by the portal. In her opinion, waiting 5-7 years can double the amount of the benefit.
As an example, she gave the situation of a senior woman with over 61 years of work experience who retired at the age of 81 years and 6 months. Thanks to this, she currently receives the highest benefit for a woman in Poland, Fr in the amount of PLN 26,800.
When is the best time to retire? “It’s worth considering all the arguments”
The president of the Social Insurance Institution also referred to concerns about whether the difference in the amount of the old-age pension would make up for the lack of payments in the period when people were holding off on switching to it. – Our estimates show that the time needed to compensate for the lack of pension payments due to extending professional activity, for example, by two years, is about 5-7 years, depending on age, capital and earnings – she explained, noting at the same time that currently in Poland men at the age of 65 have an average of 15 years to live, and women 23, but it is worth bearing in mind that these are average values. This means many people will download much longer.
The professor also recalled that retirement is a right, not an obligation and that it depends on the person concerned when he wants to switch to it. – It is worth taking into account all the arguments for and against, not only financial – he argues, adding that before making the final decision, it is worth consulting an advisor who is available in every facility and online.
Source: Gazeta
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