John A. Turner: Longevity Policy: Facing Up to Longevity Issues Affecting Social Security, Pensions, and Older Workers
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This book has four basic purposes. The first is to define the problems created for all countries by the increasing longevity of the workforce. The increased longevity of the workforce itself, given the current customary retirement age, increases the number of years that recipients would draw on a retirement system relative to the years spent paying in, thus representing additional cost to a retirement system. This effect is compounded by the setting of low early retirement ages; that also adds to the number of years workers draw on a system. Even though the benefit level may have been reduced, the increased longevity may more than offset the cost saving.
The second is consideration of the issues surrounding whether or not older workers can successfully extend their working lives. Not only are workers living longer, but they have improved levels of general health and lower disability rates than two decades ago. In addition there has been a decline in the physical effort required in many...