International Organization Sees Need To Raise Retirement Age

According to the Paris-based Organization for Economic Co-Operation and Development, the average person should expect to live between 20 and 24 years beyond retirement age by 2050. That is up from 17 to 20 years in 2010. But increasing life expectancy also means increasing financial struggles for both individuals and governments. The report suggests raising the retirement age to relieve that burden and address the sustainability of government policies. Currently, the official retirement age in the U.S. is 66, though individuals can begin collecting retirement benefits as early as 62. The retirement age is scheduled to rise two months each year starting in 2017 until it reaches 67 in 2022. More here.

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