China said Friday it would gradually raise its statutory retirement age, as the country grapples with a looming demographic crisis and an older population. Hundreds of millions of people in China a…
How does this work? You must stop working at “retirement age”? Or is that when your benefits kick in, meaning you must work until then?
Retirement is a financial position, not an age. In the US you can start withdrawing social security at age 62 (at a reduced amount/month). They consider 67 to be full retirement age, meaning you get the largest amount (per month) if you wait until then. A lot of people treat that as their retirement plan, so it ties an age to when you stop working.
How does this work? You must stop working at “retirement age”? Or is that when your benefits kick in, meaning you must work until then?
Retirement is a financial position, not an age. In the US you can start withdrawing social security at age 62 (at a reduced amount/month). They consider 67 to be full retirement age, meaning you get the largest amount (per month) if you wait until then. A lot of people treat that as their retirement plan, so it ties an age to when you stop working.