An increasing percentage of the population are retired and living longer. Governments are concerned that, in the future, there will be an overwhelming demand on their funds to pay the pensions and a decreasing number of younger tax payers to provide the revenue. The simple answer, they propose, is for workers to work longer – thereby putting off the need to pay them a pension.
However, workers do not usually retire because they have reached pension age, but because they are tired of working. Many are physically or mentally exhausted and looking forward to a rest. Some may want to continue working, but that should be their choice. An enforced extension of working life may help solve the financial dilemma, but it will also increase the pressure on our medical services to keep workers fit to work.
An alternative strategy would be for Governments to learn how retired people already contribute to the nation and economy, and then put in place arrangements to support, encourage and enhance their contribution. This will be explored in a future post.
Renaissance not Retirement 