Quote:
Originally Posted by lubicon
You misread my post. I do not mean fewer people should collect, I mean people should collect for fewer years. Basically we need to reset the time from retirement to end of life periodically to stay consistent. In 1970 it was ~ 8 years (retire at 65, die at 73). Now it's about 15 years and that is not sustainable. Bump back the age to begin collecting (ie retirement) to more closely match the target range we are wanting to pay out (10 years or whatever we decide it is going to be on average).
|
Old age programs that somewhat follow actuarial tables would be politically unpopular, but a wise decision.
If there was a way to transition people out of the workforce without the hard-stop of complete retirement, it would be handy. Admittedly, there are some professions where this is possible, but there's many where this isn't.
I could see someone in their late 60s still working, but not wanting a grinding work schedule.
In human societies, the idea of a time of one's life to basically 'sit and do nothing' is unusual. In most societies, the elderly were transitioned to a less physically demanding role - typically educating the young. I don't know how we accommodate such a transition in the future.