“Age should no longer determine the appropriate end of a working life,” writes the Economist Magazine. This seems reasonable to me, especially given that people are healthier now than ever before (and thus able to work longer). But as the magazine points out, there will be a divide between older, well-educated, individuals and those who spent their careers in less-skilled areas. Those who are well-educated are more likely to stay in the workforce, while those with fewer skills are more likely to take retirement even if they are still in good health. From the article:
“Some 65% of American men aged 62-74 with a professional degree are in the workforce, compared with 32% of men with only a high-school certificate. In the European Union the pattern is similar.”
How to address this divide? The Economist suggests training programs — also not a bad idea. “Today, many governments are understandably loth to spend money retraining older folk who are likely to retire soon. But if people can work for longer, that investment makes much more sense.” Here’s another link to the longer briefing.