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Old 04.02.2019, 08:13
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Has anyone ever made it to 65 and employed?

I am in the final stretch towards retirement, and am feeling the age-discrimination pinch here. It seems whenever there's a downturn or bad quarter the older employees get sacked first. I have rarely seen an employee 60 or older at any of my jobs here. As paying into my pension until 65 is crucial for funding my retirement, I was wondering: who here has actually made it to 65 as an employee?
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Old 04.02.2019, 08:36
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Re: Has anyone ever made it to 65 and employed?

Not my situation at all, but in my last place of employment I saw it happening. Instead of retraining as little used services were phased
out and replaced with new technologies, many over the age of 58 were 'offered' early retirement. Some were also pressured to take a cut in hours.
This was a major player in Switzerland.
Whereas in the past employees were treated as people, those days are now long gone and you're really just a number to them and when you become too expensive, the company looks at ways of reducing costs, with anyone over the age of 58 the first to be asked if they 'want' to step down.
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Old 04.02.2019, 08:46
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Re: Has anyone ever made it to 65 and employed?

My husband did as have several of his colleagues but I donít think itís the norm.

There are quite a few older employees in the company but they do have a particular skill set that the company needs.
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Old 04.02.2019, 08:55
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Re: Has anyone ever made it to 65 and employed?

Pot luck I would say, agism is alive and well, not only in CH but everywhere you look. Especially if you get the sack at the end of your fifties, then get ready for a slow slide into obscurity.
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Old 04.02.2019, 09:12
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Re: Has anyone ever made it to 65 and employed?

It's rare these days to make it to 65. (Or even to the lower mandatory retirement ages some companies stipulate.)

At the same time there is the perennial discussion of raising the AHV pensionable age...

Karma is a B, though. In OH's field companies often find they later have to come hat-in-hand asking the 'early retired' employee to consider returning as a contractor. For which smart retirees ask significantly more than the few extra pennies in the pension pot.

But hey, headcount reduction reported, stakeholders happy.

These days one cannot count on traditional work until pensionable age in the corporate world, any time after the mid 50s is icing on the cake. Plan for something independent during your later years, the gig economy isn't just for millennials anymore. Or plan to move to another country where your skills and experience are needed - ironically, often as an inter-company transfer.
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Old 04.02.2019, 09:15
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Re: Has anyone ever made it to 65 and employed?

This is another irony of the retirement age continuing to increase. If anything in ageist Switzerland they should make retirement age 58 and increase pension contributions to compensate. Ahh, we can but dream...
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Old 04.02.2019, 09:29
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Re: Has anyone ever made it to 65 and employed?

I've been wondering the same and am similarly hoping to make it all the way to 65 on a full salary... with little expectation of achieving that. In our cuddly mega corp I do see a few people over 60, but it's rare. I think the 'normal' pattern is a 'package' around late 50s and maybe the RAV kicking in for the last few years (see my other post.. I think the RAV pays up to 4 years after 61).

From what I understand, increased employer pension contributions aren't really a huge burden for a big company. I think the lack of oldies is more to do with perception and, maybe, because quite a few 'oldies' end up in 'middle management' where they're no longer a 'personal contributor' and so are seen as soft targets. My advice is to stay away from 'team management' and build on business process knowledge and/or technical expertise.
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Old 04.02.2019, 09:42
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Re: Has anyone ever made it to 65 and employed?

Depends, in the corporate world I’ve observed nice little parachutes around 59 if the employee has worked in the company for a long time. Since longevity is no longer part of the game, I wonder how it will be for future generations when they’ve been unable to build up pensions since they’ve had to move jobs every few years.

Anyway, in my last company, we all lost our jobs due to restructuring & surprisingly, my oldest colleague (58) was the lone person standing. This is indeed a rarity. Currently, I am working with a boss who’s 59, and it’s openly known he will be getting his silver parachute soon.
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Old 04.02.2019, 09:53
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Re: Has anyone ever made it to 65 and employed?

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I wonder how it will be for future generations when they’ve been unable to build up pensions since they’ve had to move jobs every few years.
That is not a thing for future generations that is now, itīs just that at the moment we can only see the tip of the iceberg.
Just reading threads like this make me frightened for the not very far off future and trying to survive on a state pension.
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Old 04.02.2019, 09:58
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Re: Has anyone ever made it to 65 and employed?

We have several older employees here and actually our head of HR has hired quite a lot of people who are in their 50ies. But then he knows how it is to get fired with 58.....
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Old 04.02.2019, 10:01
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Re: Has anyone ever made it to 65 and employed?

I probably could....but will choose not to...
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Old 04.02.2019, 10:12
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Re: Has anyone ever made it to 65 and employed?

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I probably could....but will choose not to...

Same here. Point of being in CH is to make as much money as possible quickly, and retire early. I'm almost 47, been fired a few times and getting fed up with the whole corporate attitude towards people. I have no children nor other expensive hobbies or habits, so will quit after the 6 month gig I'm working at now. I have only one life, to waste it away in an office... I want to see the Louvre, Amalfi coast, the London technology museum etc etc, and preferably while I still have my health.
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Old 04.02.2019, 10:20
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Re: Has anyone ever made it to 65 and employed?

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Same here. Point of being in CH is to make as much money as possible quickly, and retire early. I'm almost 47, been fired a few times and getting fed up with the whole corporate attitude towards people. I have no children nor other expensive hobbies or habits, so will quit after the 6 month gig I'm working at now. I have only one life, to waste it away in an office... I want to see the Louvre, Amalfi coast, the London technology museum etc etc, and preferably while I still have my health.
Yes you only have one life but don't mis-underestimate how much of that life you will spend as a pensioner. You need to prepare for it because I can't think of anything more miserable than struggling financially in the twilight decades of my life when I need financial security the most.
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Old 04.02.2019, 11:01
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Re: Has anyone ever made it to 65 and employed?

I was reorganised out of a job when I was 55. Nice package which I partially used to top up my pension to the equivalent of 32 years contributions. Started collecting at 57.

Two years later they re-reorganised the job and reinstated my old position. By then the VP had changed and the new one's objective was more related to getting the job done, rather than reduce headcount.

HR had a policy on not reemploying retirees so I wasn't offered my old job back. Not that I wasn't enjoying not working.
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Old 04.02.2019, 11:13
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Re: Has anyone ever made it to 65 and employed?

Be nice to make it to 65 already
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Old 04.02.2019, 12:36
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Re: Has anyone ever made it to 65 and employed?

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Same here. Point of being in CH is to make as much money as possible quickly, and retire early. I'm almost 47, been fired a few times and getting fed up with the whole corporate attitude towards people. I have no children nor other expensive hobbies or habits, so will quit after the 6 month gig I'm working at now. I have only one life, to waste it away in an office... I want to see the Louvre, Amalfi coast, the London technology museum etc etc, and preferably while I still have my health.
Travelling is an expensive hobby The places you describe are weekend stuff, no reason why you can't experience them now, rather than postpone those experiences and expenses into more uncertain future.

Generally I agree and understand your perspective, for me its enough to have intense weekends (mostly in mountains, complemented with stuff you describe), and 3-4 vacations per year far, far away, as exotic as possible. Retiring in 60-61, taking a financial hit due to earlier retirement but not giving a nano-fraction of a f**k about that. That's the ideal at least, who knows what will be the reality.
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Old 04.02.2019, 13:02
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Re: Has anyone ever made it to 65 and employed?

I am not a high energy person, after a week at work I really need to recover (and I only work 80%, but still). Weekends are for cleaning house, doing the shopping, cycling to keep fit. A 3 day weekend gives my one day to play around in, not enough time for the outings I mentioned. Nice if you have tons of energy, but not everyone has that. In my case it's genetic as half the family on my moms side is like this (one cousin even went so far as to have ME/CFS).

I'm also not too good with stress, so instead of flying I rather drive (combined with 50 euro a night hotels). A typical driving day is 400 to 500 km, so things like the Amalfi coast really are week trips...


I wonder how sustainable this 'working till 68' is. At the moment the economy is running fine and lots of people are needed everywhere. But increased automation will lead to unemployment, especially among the lower educated and people not able/willing to keep up. Once this group becomes significantly large enough the government will need to put something in place to give these voters an income. I know basic income is not very popular, but what would be the alternative ?
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Old 04.02.2019, 13:43
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Re: Has anyone ever made it to 65 and employed?

Not far off for me as I am 58 this year

Alas after almost 6 years of divorce procedure is going to leave me financially destroyed to where I was, even if I manage to get to the 65 with the current company.

Hence I have to start this year preparing to work part-time and build this up so hopefully I can carry on past retirement.
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Old 04.02.2019, 13:51
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Re: Has anyone ever made it to 65 and employed?

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I am not a high energy person, after a week at work I really need to recover (and I only work 80%, but still).

I agree with you - I'm exhausted by the weekend and rarely have the inclination to travel anywhere. Very different in my younger years. Never envisaged this when I was younger - always thought I would have lots of energy! Really looking forward to retiring. I could easily make it to 65 in my profession - only 2 years to go - but would rather quit at 64 if I can work it out.
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Old 04.02.2019, 13:52
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Re: Has anyone ever made it to 65 and employed?

According to a survey I heard about last week, the reason hiring managers hesitate to hire 50+ is because of the moral issues they would have if they had to lay off a 55+.

So the solution to this can be to go on to the market as an independent contractor instead.

For anyone interested in these topics I can recommend this group:

https://www.aging2.com/zurich/

Or maybe this foundation:

https://neustarter.com/veranstaltungen/kalender
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