In Ireland the retirement age was 65 years, now it is 66. Any Person born after January 1 1955, the age of retirement increases to 67 years, and Who ever was born after January 1 1961 the age of retirement increases to 68 years. In Europe it is likewise. My Question is when I'm 66 or 67 years of age after working in very physical labour all My Life on building sites, Who would keep Me in employment ? Who would be willing to continue to pay My wages, when I'm all used up ? I am aware that Governments are attempting to ease the pressure on the pension fund, yet many of these Countries have massive unemployment also. Why not reduce the retirement to 60 years, and there would be plenty work for the young unemployed.
My family tree:
*Paternal g'pa died at 57.
*Paternal g'ma died at 74. (Entered nursing home at 68, because dementia was at a level where she was leaving stove burners on; wandering the streets handing out $20 bills; mis-identifying family members.)
*Maternal g'ma died at 66.
*Maternal g'pa died at 67.
*My Dad died at 64.
*My Mom died at 74. (Cognition and mobility deficits started in late 60s and advanced steadily.)
Social Security loves gene pools like mine. Big pay in. Small payout.
And to someone else's very good point: The cutthroat business world has no interest in ushering its workforce into their 7th decade. Companies will be "right-sizing" their way to the bank -- moreso than usual.
The whole point is to have just as much money to raid while cutting the payouts.
Friends don't let friends vote Republican.
i saw the article had quite a few comments attached so I perused them and there was almost a common hatred of the elderly espoused- most by millennials I suppose who seem an entitled bunch anyway
When I turned 70 it was like a light switch going on and I found myself having mobile issues... like trying to get up when doing something on the floor... oh gosh, now what, how am I going to get up. This scared me, as it felt like just a decade ago I was a gym rat... so much for doing weights, doesn't help get up off the floor :P
And now I find after I come home from work, after working only mornings, I find myself dozing off right after lunch. And government wants to raise the retirement age to 68?
It's certainly an option to consider reducing retirement to age 60, but your social security deduction for the past 25 years would need to have been increased by about 55%. Or you could retire at 60 and have those young unemployed (now employed) pay 55% more for your early retirement. Or you could retire at age 60 and take no pension until age 67 or 68. But then you would need to save up for this. As you can see, there is no free lunch (or free retirement in this case).