Winner 2013 Webby Awards for Best Political Website
Top Banner, Site wide
Apr 19, 2014

 Choose a size
Text Size

Top Leaderboard, Site wide





The Divide


Truthdig Bazaar
America and the Islamic Bomb: The Deadly Compromise

America and the Islamic Bomb: The Deadly Compromise

By David Armstrong and Joseph J. Trento
$16.47

One Minute to Midnight

One Minute to Midnight

By Michael Dobbs
$19.11

more items

 
Ear to the Ground

OECD: Governments Must Raise Retirement Age

Email this item Email    Print this item Print    Share this item... Share

Posted on Jun 12, 2012

A new report issued by the Paris-based Organization for Economic Co-operation and Development reached the completely unastounding conclusion that pension systems in aging economies will soon become insolvent given the current retirement age. It advised countries with aging populations (the United States, many European nations and Japan fall into this category, among others) to raise their retirement age to account for these demographic changes.

Altogether, the OECD report recognized an entirely predictable problem. When Social Security was created, the retirement age was 65 and life expectancy was 62. Now, the retirement age is 67 and life expectancy is 79. When the demography changes nine times faster than government policy, it’s very easy to see that there might be a issue. Politicians are aware of the problem (the Congressional Budget Office released a similar report in January), but there isn’t enough political capital in the universe for Congress to force a large group of retirees to postpone benefits for a meaningful amount of time. Frankly, barring a radical change away from the me-first attitude of American politics, the situation looks grim.—CN

CNN Money:

As life expectancy continues to rise, a new report suggests that governments need to raise the age of retirement in order to keep up.

The Organization for Economic Co-operation and Development said that by 2050, the average woman and man can expect to live roughly 24 and 20 years beyond retirement age respectively, up from 20 and 17 years in 2010. At the same time, retirement ages across many countries have stayed the same.

Read more

More Below the Ad

Advertisement

Square, Site wide

New and Improved Comments

If you have trouble leaving a comment, review this help page. Still having problems? Let us know. If you find yourself moderated, take a moment to review our comment policy.

Newsletter

sign up to get updates


 
 
Right 1, Site wide - BlogAds Premium
 
Right 2, Site wide - Blogads
 
Join the Liberal Blog Advertising Network
 
 
 
Right Skyscraper, Site Wide
 
Join the Liberal Blog Advertising Network
 

A Progressive Journal of News and Opinion   Publisher, Zuade Kaufman   Editor, Robert Scheer
© 2014 Truthdig, LLC. All rights reserved.