Jobs for Early Retirement
18 May 2015
Read by 3105 persons
Title: Jobs for those who want to retire early. What jobs should those who plan to retire before turning 60 consider? Are the professions known for allowing early retirement living up to their reputation? Here are a few options.
Wearing the uniform
Police and firefighter pension plans have been in the headlines in recent months. Are they as generous as people say?
It is true that firefighters, military personnel, and police officers can receive a retirement pension without penalty after 25 years of service. The job of firefighter also has the advantage of being very appreciated by the population. It regularly ranks at the top of the list of the most admired professions among Quebecers, according to the professions barometer conducted each year by Léger Marketing.
The downside: these jobs are very demanding. You must accept the high risks to physical and mental health, as well as atypical hours and, in some cases, deployments abroad.
Choosing the construction field
Construction workers can retire at 50 if they have accumulated at least 14,000 hours of work. A great option to enjoy a long retirement! However, it should be noted that this early retirement often marks the end of a career begun in adolescence, as soon as the DEP is obtained.
Teaching or serving the State
The two months of summer vacation that teachers enjoy each year are the envy of many. Are they also eligible for early retirement? According to current laws, public sector workers can receive their full retirement pension when they reach their sixties or after 35 years of service. Thus, a teacher who used their first chalk at age 23 is entitled to a penalty-free retirement at age 58; only two years before the average Quebec worker.
And beware: the rules are about to change. The Couillard government wants to raise the retirement age from 60 to 62 and increase penalties for early retirement. These measures would affect more than half a million public sector employees.
Budgetary restrictions in recent years have also limited hiring in this sector.
Becoming a stadium king
Dedicating their lives to the sport they are passionate about is the dream of many young hockey, tennis, and other disciplines players whose champions earn an annual salary in the six (or even seven) figures. As their fortune depends on their physical performance, athletes rarely retire after their thirties. NHL players, for example, hang up their skates on average 5.5 years after entering the league.
The catch is that this is a profession for which there are a huge number of applicants and very (very, very) few chosen ones. In addition, such a short career raises the problem of the funds needed to support oneself for the next half-century. This is one of the reasons why many retired professional athletes hold related jobs, such as coach or sports columnist.
The famous "Freedom 55" is therefore a dream that is increasingly difficult to achieve. Sorry!
Anne-Hélène Dupont.
Workopolis.com
Published May 14, 2015.
Posted online May 18, 2015.
Wearing the uniform
Police and firefighter pension plans have been in the headlines in recent months. Are they as generous as people say?
It is true that firefighters, military personnel, and police officers can receive a retirement pension without penalty after 25 years of service. The job of firefighter also has the advantage of being very appreciated by the population. It regularly ranks at the top of the list of the most admired professions among Quebecers, according to the professions barometer conducted each year by Léger Marketing.
The downside: these jobs are very demanding. You must accept the high risks to physical and mental health, as well as atypical hours and, in some cases, deployments abroad.
Choosing the construction field
Construction workers can retire at 50 if they have accumulated at least 14,000 hours of work. A great option to enjoy a long retirement! However, it should be noted that this early retirement often marks the end of a career begun in adolescence, as soon as the DEP is obtained.
Teaching or serving the State
The two months of summer vacation that teachers enjoy each year are the envy of many. Are they also eligible for early retirement? According to current laws, public sector workers can receive their full retirement pension when they reach their sixties or after 35 years of service. Thus, a teacher who used their first chalk at age 23 is entitled to a penalty-free retirement at age 58; only two years before the average Quebec worker.
And beware: the rules are about to change. The Couillard government wants to raise the retirement age from 60 to 62 and increase penalties for early retirement. These measures would affect more than half a million public sector employees.
Budgetary restrictions in recent years have also limited hiring in this sector.
Becoming a stadium king
Dedicating their lives to the sport they are passionate about is the dream of many young hockey, tennis, and other disciplines players whose champions earn an annual salary in the six (or even seven) figures. As their fortune depends on their physical performance, athletes rarely retire after their thirties. NHL players, for example, hang up their skates on average 5.5 years after entering the league.
The catch is that this is a profession for which there are a huge number of applicants and very (very, very) few chosen ones. In addition, such a short career raises the problem of the funds needed to support oneself for the next half-century. This is one of the reasons why many retired professional athletes hold related jobs, such as coach or sports columnist.
The famous "Freedom 55" is therefore a dream that is increasingly difficult to achieve. Sorry!
Anne-Hélène Dupont.
Workopolis.com
Published May 14, 2015.
Posted online May 18, 2015.
