You got my sympathy with the latter but not the former.
Coming soon to a City near you in the US.
Sarkozy should call out the Army.
retirement is a BS concept from 50 years ago.
everyone i know who is “rettred” spend all their time worrying about money and their health. more golf time doesnt make up for turning into a useless vegetable.
the happier people are still engaged and working, at something. 65 these days is like 45, 50 years ago. no retirement, work till you drop, you’ll be happier and healthier. and not a pain in the butt to your kids.
I'm not sympathetic in either regard. I've read that folks in western countries generally (including Japan) who reach 50 have an average life expectancy to 85+. Full retirement at 65 means 20+ years of retirement, as against typically around 40 - 43 years of working.
In a stable population, that works out to around .46 retirees per working-age person.
That makes it onerous for the folks still working to support those who are retired.
In the US, the age for full Social Security benefits for folks born in 1960 and later is 67. That changes the ratio modestly to around 18+ years of retirment against around 45 years of work. That reduces the ratio modestly to around .4 retirees per working-age person.
Frankly, I'd raise it to 70, giving around 15+ years of retirement against around 48 of work. That gets it down to around .31 or .32 retirees per working-age person, which is much less onerous on those who are still working.
sitetest
“Polls show two-thirds of French people oppose Sarkozy’s plan to raise the minimum retirement age to 62 from 60 and lift the age at which people can retire on a full pension to 67 from 65.”
What kind of a fix answer do these two-thirds have then?
If you’ve ever wondered what makes a progressive smile...
We are already doing something similar for ss. My retirement has been pushed back a year or two according to SS.
These people are nuts. Without these changes there will be no system.