Raising the retirement age
[14 October 2005 - Christian Science Montior] Sometimes the press misses the big picture by missing small events. Example: Belgium was shut down Oct. 7 by a general strike. Unions didn't want the retirement age lifted from 58 to 60. Yet Belgium, like many rich nations, has little choice. People are living longer and too many will soon be drawing benefits. Governments in wealthier nations need to rethink the whole concept of "retire" and adjust their policies to make it easier for older people to keep working, find work, and receive training. Aging need not mean setting limits on one's agility, alertness, and ability to contribute. In a little-noticed news item last week, the Organization for Economic Cooperation and Development, the think tank for 30 industrialized nations, warned that world economic growth will decline to 1.7 percent over the next 30 years if older people aren't encouraged or allowed to work. If nothing is done, the OECD stated, the ratio of nonworking retirees to workers will nearly double in those countries by mid-century. ...