Poisson
TS Member
- Favourite Ride
- The Giant Squid
Just covered this in Geography and it set me wondering what everyone else thought.
The old age pension and the retirement age implemented when life expectancy was lower than 70 years old. The cost therefore was not too high on the economy as on average someone was supported for less than 5 years on the old age pension.
Now we have people living to be 100+, should the retirement and pension age be increased due to the HUGE cost on the economy and the longer life expectancy?
I believe it should be raised due to the cost to everyone else and by 2050 50% of the population of the UK will be retired if the same age is maintained and life expectancy raises at the current rate of a 5 year increase in life expectancy every 30 years.
Discuss!
(*Associated benefits is the old age pension and free bus pass etc)
Sent from my GT-S5830 using Tapatalk 2
The old age pension and the retirement age implemented when life expectancy was lower than 70 years old. The cost therefore was not too high on the economy as on average someone was supported for less than 5 years on the old age pension.
Now we have people living to be 100+, should the retirement and pension age be increased due to the HUGE cost on the economy and the longer life expectancy?
I believe it should be raised due to the cost to everyone else and by 2050 50% of the population of the UK will be retired if the same age is maintained and life expectancy raises at the current rate of a 5 year increase in life expectancy every 30 years.
Discuss!
(*Associated benefits is the old age pension and free bus pass etc)
Sent from my GT-S5830 using Tapatalk 2