Number Games: The Retirement Age in France is Already 65

[Hannah Bell]

If you asked people what the retirement age is for Social Security most people would probably say 66, or perhaps age 65 if they missed the fact that the age for full benefits has been increased. However, workers can qualify for early benefits at age 62 and most workers do in fact start collecting benefits shortly after reaching this age.

This is why it is very disturbing to see the NYT and other reports on France routinely refer to President Sarkozy's plan to raise the retirement age in France from age 60 to 62. This refers to the early retirement age. The normal retirement age is already age 65 and would rise to age 67 under Sarkozy's proposal.

In the same vein, the article refers to a plan by Germany to raise its retirement age to 63 without noting that this refers to the early retirement age. The age for full benefits in Germany is currently 67.

http://www.cepr.net/index.php/blogs/beat-the-press/number-games-the-retirement-age-in-france-is-already-65


Really interesting how universal is the "raising the retirement age from 60 to 62" meme in the US msm. almost like it was coordinated to delude us.

[Ginto]

1. I never realized that the age for full benefits in Germany is 67?

When did they go so far off course?

[JVS]

3. West Germany probably slipped it in.

[RaleighNCDUer]

4. Well, that's OK. They live longer than Americans do. nt

[xchrom]

2. Recommend

[leftstreet]

5. K&R

[dflprincess]

6. One report I heard said you can collect full benefits at 60 if

you have worked 42 years. So a person who started working at age 18 would be eligible at 60 for full benefits. Also, I haven't seen anything that explains just what the difference in benefits is if you retire at 60 vs 65. Maybe it's not as big a difference as it is here with Social Security &, of course, a French retiree, doesn't have to worry about "medigap" or prescription covreage.

[Lasher]

7. Good find, I was not aware of this at all.

And the reason I wasn't is the corrupt media in the US and Europe. I can't wait until a teabagger tells me how appropriate it is to raise the retirement age in France and Germany to bring it more in line with ours.

[DURHAM D]

8. I would like to see a legitimate source for this statement:

"workers can qualify for early benefits at age 62 and most workers do in fact start collecting benefits shortly after reaching this age."

If this statement is about the U.S. I need to see a source. I don't believe it is an accurate statement. Even if it was true 10 years ago it is definitely not true now. People must keep working because their private retirement funds have been shredded and because of the 6% a year reduction in SS benefits for each year it is taken before 67.

BTW - Not a single baby boomer has reach full retirement age yet.

[Hannah Bell]

9. The majority of workers tap SS early. Been that way since the dirty 80s -- when the attacks on

labor ramped into high gear. Layoffs in your 40s & 50s = no stable employment thereafter unless you get lucky.

"In 2009, 72 percent of the 2.7 million new filers opted into Social Security early, according to the Social Security Administration. In 2007 and '08, 74 percent did, a record high. In 1980, just 57 percent collected early and in 1970, 47 percent."

http://www.cbsnews.com/stories/2010/08/14/eveningnews/main6773438.shtml

[DURHAM D]

11. Thanks for the info.

Those stats are sad and shocking.

When I enrolled in Medicare they did everything they could (I was transferred to 3 different reps) to try to get me to take my SS early. I declined. I mentioned it to my accountant and she said that all of her clients that enrolled in Medicare reported the same pitch. We just assumed that the government was trying to reduce the long term commitment by 6 or 12%, or more if you delay past full retirement age. Oh, they also wanted to tap those SS checks for the medicare contribution directly, instead of waiting for me to send in a quarterly payment.

From my personal experience, I don't know a single person who tapped SS before full retirement year. Guess it is because everyone had/has a job.

Thanks again for the info.

[Hannah Bell]

12. yep. i know a couple people who did, both because they didn't have jobs, 1 because he was

completely disabled, as in unable to walk or feed himself.

reading between the lines i think we can guess that the percentage started going up in the 80s as lifetime jobs & guaranteed wages/benefits came under attack, & it's gotten worse since.

a lot of "silent" people out there just hanging on.

[Greyhound]

10. Funny, that. K&R. n/t