What do you think of the Government raise the retirement age, if the average world life span is 67?

Answer #1

My manager just went to his class reunion at 50 and he said that have the people he graduated with have now passed, I do not think this raise was a great move.

Answer #2

It simply means that many people will never get a break - work right up until they die. Wow - what a life. What’s the average retirement age while working a government job? I can assure you it’s a lot less, and comes with a great retirement package.

Answer #3

Like I have said here in the past, life sucks, and then you die.

Answer #4

Many governments are doing this because they don’t have much choice. They are supporting larger numbers of retirees with fewer workers and consumers contributing tax revenue. Also, while it’s true some countries offer great pensions to public workers at a much younger age, this will probably change soon. The United Kingdom is already looking hard at pensions for retired police officers, firemen, and such. Europe, Japan, and other such societies will have to face their demographic problems, and it will be painful. We’ve all seen the protests in France over a 2-year raise in the retirement age. I think this is just the beginning.

The bigger issue is, how will these societies compete economically with emerging countries like Turkey, Brazil, and India, where the majority of the population is younger than 35?

Answer #5

Both my wife’s and my Social Security retirement age has already been raised. My wife can’t receive full SS benefits until 66 years and 11 months and I won’t receive full benefits until 67.

I have little doubt that the retirement age will be raised to 70 for young whipper snappers.

When Social Security started about half of working men and about a third of working women died before reaching 65. At the time most retirement systems used 65 as retirement age though a few used 70 in which case most workers did die before getting a chance to retire. 65 was chosen because actuarials determined that the system could remains solvent with this retirement age with only a modest payroll tax.

As of 2004 (latest stats I could find) a male 20 year old worker would be expected to live to 76.7 years and a female 20 year old worker to 81.5.

I will probably work until 70. I was on course to retire at 50 until some stock market corrections and a divorce decimated my savings.

Answer #6

Yes right now I am on course to retire at age 45, I am not counting on social security retirement , though it would be nice to have that extra funds. We could call it gas money by the time we reach true retirement age.

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