75 is the new 65, so we should all keep working for longer
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Warren Sanderson, Stony Brook University (The State University of New York) and Sergei Scherbov, International Institute for Applied Systems Analysis (IIASA)
The idea of raising the retirement age is not popular – most people resent being told they must work for longer. But with life expectancies increasing and people enjoying higher quality of life at older ages, we face the prospect of older people being retired for the same amount of time as they were working, or longer.
Our research supports the decision to raise retirement ages, but also shows how we can stop relentlessly raising retirement ages by maximising the workforce available in younger generations.
According to conventional thinking, pension ages have to go up because there is not enough money in national budgets to continue the current level of benefits that pensioners receive. This is a very unpopular argument and for good reason.
If the desired policy was to maintain a constant pension age, then there are many ways t...
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