[ duh-mee-pahn-syawn ] show ipa. nounFrench. an arrangement whereby a guest or resident pays, usually at a fixed rate, for room, breakfast, and one other daily meal offered in a hotel or boardinghouse; half board.: Compare modified American plan.
A rate inclusive of breakfast and dinner, in addition to the sleeping room. In the U.S. and Canada it is also called MODIFIED AMERICAN PLAN (MAP), which means breakfast and one other meal (usually dinner). RELATED TERMS: AMERICAN PLAN, CONTINENTAL PLAN, EUROPEAN PLAN, MODIFIED AMERICAN PLAN, DEMI-PENSION.
feminine noun. full board. Collins French-English Dictionary © by HarperCollins Publishers.
noun. 1. ( gen) retraite f. 2. [ of soldier] pension f.
A rate inclusive of breakfast and dinner, in addition to the room. In the U.S. and Canada it is called MODIFIED AMERICAN PLAN (MAP), which means breakfast and one other meal (usually dinner). In Europe it is also called HALF-PENSION.
The Age Pension is designed to support the basic living standards of older Australians. It is paid to people who meet age and residency requirements. It is targeted through the means test to those who need it most. Pension rates are indexed to ensure they keep pace with Australian price and wage increases.
A pension hotel is a specific type of “boarding house” in European countries. The term comes from the old French pension, which generally refers to room and board costs. In Europe, the word pension is used for payments to retired workers, as it is in the U.S., but it is also a term for a cheaper hotel or lodging.
Level of pensions
People having retired in France receive on average €1,509 gross pension income a month (around €1,400 net). However, it increases to €1,537 net when the widower's pension is included, an amount estimated to represent on average 62.9% of the revenue of working class people in 2020.
The new reform provides for a minimum pension of 85% of the French minimum wage; it means that employees who have worked for 43 years will get a minimum of 1,200 euros a month of pension (based on today's minimum wage).
That's the percentage of money that remains of the after-tax income you earned on average over your working life. In France in 2020, this was 74.4%. That means: If you received €2,500 (about $2,700) a month on average, for example, then you would receive about €1,860 ($2,002) as your pension.
To qualify for a full Age Pension as a single person your income must be below $204 per fortnight (approximately $5,304 per year), but you can still be eligible for a part Age Pension if you earn less than $2,332.00 per fortnight (approximately $60,632 per year).
A defined benefit or DB pension (also known as a final salary pension) is a special type of workplace pension. Instead of building up a pension pot over time, it provides you with a guaranteed annual income for life, based on your final or average salary (hence the name).
You can take a flexible retirement income
A quarter (25%) of your pension pot can usually be taken tax-free and any other withdrawals will be taxable, whether you take them as a regular income or as lump sums. You may need to move your pension to a different provider to do this.
The Netherlands, Denmark, and Israel have the best pension systems. The U.S. ranks far from the top. Common challenges pension systems around the world need to address include increasing the average retirement age due to rising life expectancy, encouraging more savings, and limiting access to funds before retirement.
Therefore, pension funds that qualify as marital property are usually split evenly between divorcing spouses. The exception to this rule would be if you have a valid prenuptial agreement in place. If you earned a portion of your pension funds before marriage, that portion of the pension is not marital property.
For a permanent retirement there you will require a Long Stay Visa (Visa de Long Séjour). You must apply before you move to France, via the French Consulate in London. There are various types of long stay visa.
Mandatory state pension provision
The scheme aims to provide up to a maximum of 50% of the retiree's income during their 25 highest earning years up to the Plafond de la sécurité sociale (€41,136 annually in 2022). The state scheme is financed by a payroll tax known as "social security contributions".
No 1 | Iceland | The country has the best pension system in the world.
Here are the 2022 thresholds:
Single-parent family with two children: €3,003. Couple with two children: €3,744. Retired person living alone: €1,836. Retired couple: €2,540.
The cost of living in France can be much lower than you expect. We don't mean that France is a “budget” destination (although there are certainly some very attractive real estate bargains here), but your cost of living could be brought down significantly depending on where and how you live.
* From 2027, workers will have to make social security contributions over 43 years rather than 42 years in order to draw a full pension. The additional year was already foreseen in a 2014 reform but Macron is accelerating the pace of transition.
Australia's state pension system operates on a non-contributory basis and is financed by general tax revenues.
Unlike super, where you must keep your money invested until you retire, when you invest in a pension you get the tax benefits and you're free to withdraw at least $2,000 whenever you want, including cashing in your entire pension at any time.