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Retirement Age - Essay Example

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Retirement Age Name: Tutor: Course: Institution: Date: Retirement Age In most developed counties such as America and UK, where have been increased rates of aging population and decreasing birth rates; in fact, this has resulted to an increased in the retirement age aimed at reducing the high costs of pension benefits (Woodifield, 2013)…
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Download file to see previous pages Nevertheless, this paper will focus on expressing my stance on the issues regarding retirement age, whereby I will determine the most appropriate age at which a person should remain in employment. There is need to consider that at full retirement age people are entitled to full and unreduced retirement benefits, though this can be received either at the early retirement age of 62 or at the late age of 70, or retire at any time between the age of 62 and 70. I suggest that one should consider the benefits of early retirement, despite the argument that these benefits are reduced by a fraction of percentage, every month prior to full retirement age. However, most Americans are no longer willing to go for an early retirement; in fact, most of them argue that they plan to retire after 65 (Meyer, 2013). Basically, these plans can be attributed to increasing gap of more 636 retirees for more than two thousand adults in America as indicated by the Gallup survey. I do not support the policies that allow order people to work indefinitely, since age cannot be considered a guarantee of ability. There is need to give younger employees chance to work since they have more energy, experience and skills compared to older staff, who remain in the same unit for a long period of their career. In this case, early retirement should be made compulsory in order to offer a chance to incorporate new ideas in the organization. Nonetheless, there is need to set age limits since numerous people are willing to continue working due to lack of plans and roles. Order people are entitled to be rewarded by the society for their labor, whereby they can be offered a pension and liberty for enjoying their leisure. In addition, there are numerous young people who are unemployed leading to frustrations experienced in low-level position (Meyer, 2013). Opponents of the motion to make early retirement mandatory have argued that this can be considered a way of denying them freedom and right to work; in fact, this is considered a way of depriving the society valuable experience and ideas. In addition, they argue that workers should be given a chance to be flexible over their retirement age, which can benefit the society (Meyer, 2013). However, I do not agree with these notions, since they contribute to denial of chances for young people to secure employment or develop their careers. On the other hand, there are arguments I can support in regard to offering order people to work as much as they can; for instance, in professions such as scientists, artists, and politicians. Moreover, most of the order people in these kinds of professions are workaholics; hence, they prefer working until their death. In this case, they are not willing to idle at home every day after they retire since they are used to going to work. A good example of these people is Mrs Schweer, who was the oldest politician in America working at the age of 105. Some people may consider implementing regulation of retirement age to be wastage of time and resources, but I do not see it that way (Brandon, 2013). In fact, I can argue that there are very many things that those executives, who are formerly trained, can do such as mentoring the young population to become better. Therefore, instead of continuing to work in their old age, they should use this time to share their experience and knowledge with young people for the future of the nation (Brandon, 2013). The government ...Download file to see next pagesRead More
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