Posted on 05/24/2025 9:52:49 PM PDT by Cronos
the International Monetary Fund has urged governments to encourage fit, older workers to delay retirement.
Its recommendation is that people of the baby boomer generation should stay in work for longer to help balance public finances amid fiscal pressures caused by an ageing global population.
The IMF said: “The 70s are the new 50s,” and released data that suggested a person aged 70 in 2022 had the same cognitive function as the average 53-year-old in 2000. Physical health had also significantly improved, the IMF found.
Governments burdened with historically high levels of public debt, the IMF said, could not afford to let growing numbers of older workers exit the workforce while they were still healthy and able to work. Instead, it argued, governments could encourage workers to delay their retirement, cut early retirement benefits, and increase pension ages to rebalance the increasingly precarious ratio of workers and retirees.
Thousands of people from across the globe shared with the Guardian how they felt about such proposals. Although some thought the IMF’s idea was good, an overwhelming majority expressed outrage, typically describing the concept that older people should retire later to ease fiscal pressures as “disgusting”, “ludicrous” and “unfair”.
“Seventy is not the new 50. That’s propaganda,” said a 63-year-old NHS admin worker from Dundee. “Having worked since the age of 18, retirement cannot come soon enough for me. I find travelling for work stressful and long for a time when my days are my own. I am tired.”
...“People are likely to push back against this idea, because retirement is seen as a right,” said David, a town planner from the north of England. “However, as the cost of living increases, retirement is looking like an unaffordable luxury for the future.”
(Excerpt) Read more at theguardian.com ...
70s isn’t the new 50 if you’ve been doing manual labor.
Welcome to financial reality 101.
What absolute hogwash!
If I don’t retire next week I’ll die on the job. Not dying at work if I can help it. 28 years combined in LE, plus 40 credits in SS. I worked hard for both pensions, and I’ll keep busy doing odd jobs later too. But if someone tells me I should forgo any of it for the sake of some 50,000,000 illegals collecting benefits they didn’t earn can go F off.
I’d sure like to hear from DOGE the amount of refunds these illegals get filling BS tax returns with their 30 dependents too.
Obviously some people fit this description. But anyone living in the real world knows a significant minority of them, don’t.
bummer for you.
“I’d sure like to hear from DOGE the amount of refunds these illegals get filling BS tax returns with their 30 dependents too.”
Tax credits should not be refundable.
>>>Governments burdened with historically high levels of public debt, the IMF said, could not afford to let growing numbers of older workers exit the workforce while they were still healthy and able to work.
To governments, we are all Boxer from ‘Animal Farm’. They expect us to work to collapse for their benefit, and when we are no longer useful to them, they’ll sell us to the glue factory for whiskey.
well put
Oops...
"We need your pensions to pay for immigrants."
Gee I thought these illegals were supposed to help with retirements by working and paying taxes. Don't tell me that illegal aliens are not paying Social Security taxes, or perhaps not even working at all.
Socialism is a scam. They promise, they get you to buy into it. Over time, they remove benefits until they are gone and all you have is debt.
Over and over and over again.
Fugg that. Working until I’m too old to do anything after I retire isn’t in my play book.
I worked a hard job til age 67..my knees are shot...otherwise I would go back to work.
Then maybe time to switch to a less physical job?
I’ve worked manual labor all my life. Lifting, pulling, pushing. We had guys who worked there into their 70s but they were awfully slow.
It’s all well and good for desk sitters work longer but many jobs are much more demanding..zi am how in agreement that pensions should be drawn no earlier then age 62...
Bagged lunch for 35+ years retired at 58❤️
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