Work after Retirement

Work after Retirement

Introduction

Accumulated retirement employment is the ability to engage in gainful employment while receiving his pension base and complementary. The recovery of activity during retirement can be allowed without restriction, at age 60, when you contributed enough to qualify for a full pension or reach the age of 65. The waiting period of six months and maximum of 1.6 times the minimum wage will be deducted. A person who would work 5 years, after 60 years beyond the time needed to qualify for a full pension, would therefore increase his pension by 25%. The possibility of combining a job and a retreat is open to retired almost all regimes: private employees, servants or contractual state and communities, artisans and farmers or traders professions (Calvo, 2006).

After a long working life, 65 years of age (legal age, with exceptions, retirement), economic conditions may exist family-complicated and have no choice but to return to look for work, with the handicap of age, though. However, the fact remains that there are people who love their work or who devoted a lifetime to it and once retired, wishing to return to occupy their time with work that came to play.

After Retirement Fund

After the normal retirement age is still gainfully employed may, in the consent of the employer, the pension fund continue. This can be useful in terms of taxes, otherwise the income and the pension annuity fully taxed as income must. This would have a significantly higher tax consequence. Nevertheless, the continuation of the pension fund is not always recommended: Some have even after the normal retirement age insurance premiums for death and disability benefits to be paid, although a disability pension from the second pillar only until the age of 65 (men) and age 64 (women) will be paid. The amount of the survivor's benefits is based on savings in general. Employer, who can continue to run the pension fund, and playing with the idea to refer to later definitive acquisition task, the pension should be directly over the increase in the conversion rate inquire: The conversion rate should be increased appropriately if the pension is paid until a later time than ordinary retirement. It follows; therefore, because the remaining life expectancy, and the number of years in which the pension fund must pay a pension, the more decreases the longer someone remains in employment (Congressional Budget Office, 2005).

To collect a retirement pension, the insured would normally break any business relationship with the employer. However, after the liquidation of his pension, the recovery of an employment is possible, including in the last employer, allowing the accumulation and retirement income from this job. Conditions of employment accumulated retirement have been greatly relaxed.

Calculation of Retirement Pension

To determine the amount of pensions, pension funds hold the basic gross pensions schemes by employees and complementary base. To determine the amount of final salary, they retain the average income of three calendar months of activity. Withheld wages are wages subject to the levy of the general ...