113. Is retirement at 65 a reasonable expectation nowadays

One of the main challenges, or even threats, to the welfare state is the pension load, which grows as life expectancy increases, already well over 80 in some countries, making the pension system unaffordable. Many citizens expect the state (or the government, most don’t understand the difference) to solve this problem, but there are no magic bullets. In finance, contrary to what Wall Street will tell you in periods of exuberance, 2 plus 2 equals 4. The solution lies with us, the citizens, with legislative collaboration. Whilst it may be sensible for a factory worker or farm labourer to retire at 65, there is no good reason for a business manager or museum curator to do so. We develop expertise throughout our lives and one day when our economic value to society and ourselves is at its highest, whatever our fitness and capability, we retire. This needs to be re-evaluated. Remaining active, with flexibility and autonomy, can be rewarding for the worker and a lifeline for the welfare state

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Comments

Sandra K. said…
Absolutely! It would be good if the Governments understood that as some of them almost penalise the people of retirement age, who choose to work...to the detriment of welfare state and those, who want to contribute their expertise accumulated through years and experience...
Niccy said…
The benefit of that knowledge and experience needs to be shared, though. I have long believed that retirement at 65 should be optional. However, what should not be optional is passing on that knowledge. Anyone choosing to continue to work should be actively engaged in mentoring the next generation. I have seen too many times people remain in post after they should retire and they become guardians of the status quo, they refuse to share their experiences, they refuse to make way for change or development and they simply seek to maintain what they perceive to be their continued right. Of course, they have huge value and years of wisdom, but that needs to be balanced and shared and they should not simply block the flow of youth and enthusiasm. Because, there is room and need for both. There's no need to reinvent the wheel, but sometimes the wheel needs modifications and development.

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