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PostDocs and Retirement- What?: Yes, an Internationally portable Retirement from EMBO!

Postdocs and Retirment is an odd combination, it doesn't
go well with postdocs. Over the past decades, the wested interests and
bigots in academic/instituitional circles created and placed various policies in place to keep the postdoc out of "employee's" tag?.

Oh yea, if you are not an employee, you will not be considered for retirement benefits?. Wait, if you are a PostDoc, you are neither an employee nor a student but you are a decorated "fellow" "trainee", kind of an apprentice. You spent about 30 years going thro college, higher ed and doctoral training, half of your life in the school and lab is not just enough folks!?.

Anyways, unionization of postdocs in US and Canadian universities is changing these redundant policies and practices in the academic circles besides some universties voluntarily realizing these limitations and are changing policies. At this juncture, I read the following news, it sounds like one of the great music to my ears. Yes, EMBO, the european molecular biology fellowship organiztion, one of the most prestigious and adequately funded PostDoc programe is creating a Portable Retirement plan that a PostDoc can carry accross continents and countries, how Sweet!.

Pensions for postdocs

Posted by Edyta Zielinska

[Entry posted at 19th August 2009 09:48 PM GMT]

View comments(5) Comment on this news story

Postdocs funded by the European Molecular Biology Organization (EMBO) will soon have a better way to save for retirement.

The organization this month announced the creation of an internationally portable pension plan for the 400 or so recipients of EMBO postdoc fellowships.

Image: Wikimedia Commons

In most European countries, scientists can pay part of their salaries into a country-run pension program. However, for Jan Taplick, who started his scientific training in Germany but traveled to Vienna for his PhD and Israel for his postdoc, the inability to transfer retirement savings from one government plan to another made saving impractical. By the time they settle into permanent employment in one country, scientists may be "35 or 40 [years old] before they start paying into a state system," which is a late start for retirement savings, said Taplick.

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