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Reengineering retirement - article notes

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Re-Engineering Retirement Fixed retirement age makes no sense for ageing populations Baby boomers getting older (peaking right about now) Fewer workers will pay contributions to pay-as-you- go pension systems, and more  people will be drawing a pension from them The shock to state pension systems is not caused only by past fluctuations in fertility-  the ageing of the baby boomers, as they become pensioners, and their replacement by  a smaller generation of younger workers It also arises from the rapid advance of life expectancy at older ages The effective retirement age (average of when people actually withdraw from work) if  often a lot lower than the official retirement age For example, in Germany, the effective age is 60.5 whereas the official age is 65 Early retirement compounds the effect of population ageing, since it increases the 
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  • Spring '09
  • KAMRANY
  • retirement age, Retirement Fixed retirement

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