Global Retirement Ages Creep Higher: CNBC

Life expectancy is higher worldwide, and governments and individuals respond by hiking the retirement age. “Fueled by changes in lifestyles, working practices, diet and medical advances, people living today can expect to live up to 30 to 40 years longer when compared with people at the beginning of the 20th century,” notes the Aegon Retirement Readiness Survey. A majority of US workers plan to work beyond age 65. “In the U.S., according to the Social Security Administration, full retirement age for individuals born in 1960 and later is 67,” reports Lorie Konish for CNBC. “The Netherlands is already at 67, while France, Spain and Poland all have plans to move towards that age.” Reasons for delaying retirement range from not having enough savings to finding pleasure in colleagues and work activities. Workers also express concerns about traditional safety nets, with 75 percent of those in the United expressing concerns about the government ending or reducing Social Security before they reach retirement. – YaleGlobal

Global Retirement Ages Creep Higher: CNBC

More retirees around the world plan on working past age 65, and governments plan retirement programs around higher ages – individuals must prepare
Lorie Konish
Saturday, February 15, 2020

Read the article from CNBC about individuals and government preparing for higher retirement ages.

Lorie Konish is a reporter covering personal finance at

Expected Retirement Age, Selected countries	 	 Netherlands	67 US                  UK              Australia	66 Spain  Poland  Japan   Germany  Canada  Hungary	65 France	64 India       Brazil	60 China         Turkey	58

Social Contract for an Aging World ● Sustainable social security benefits ● Universal access to retirement-saving arrangements ● Automatic savings ● Guaranteed lifetime income ● Financial education and literacy ● Lifelong Learning and longer working lives ● Accessible and affordable healthcare ● Positive view of aging ● Enable aging in place  Retirement Readiness for Individuals ● Start saving early and often ● Develop a retirement strategy ● Create a backup plan ● Adopt a healthy lifestyle ● Embrace lifelong learning

(Source: Aegon Retirement Readiness Survey 2019)

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