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View Full Version : Retirement age should not be set



robt
03-14-2012, 03:01 PM
Why is retirement age-related and not health-related, or even wealth-related? It would make a lot more sense to me with forced retirement at age 65 now staring me squarely in the face. I am healthy, my brain works and I do not intend fading away bored stiff on a park bench.

In most cases in South Africa, on the wealth factor alone, it would make a lot more sense for those people who need to keep working for wealth reasons (or rather the lack of wealth) to be kept productive.

Only somewhere between six and 12 percent of employed people reach retirement financially secure.

http://www.iol.co.za/business/personal-finance/columnists/bruce-cameron/retirement-age-shouldn-t-be-fixed-1.1253336

I totally agree - if you can work longer and you should. It's better to have people contributing to your society for as long as possible and they have great skills to share - we need all the skilled workers we can get.

McT
03-14-2012, 06:42 PM
I tend to agree with you on this. However, in the flipside, the argument would be that with so few jobs up for grabs and unemployment so high, this would put even more pressure on unemployment by preventing the youngsters from getting some sort of income.

Perhaps their is some middle ground to be saught here. Of course, this whole dilemma would be obsolete if government were a wee bit more successful in stimulating an environment for job creation ;)

peterson
03-15-2012, 09:13 AM
I am not certain about this. The job market needs new blood, and older people earn lots of money. There can easily develop a problem, and without the ability to let an older person go it can become a battle with unions.

ChilliGirl
03-15-2012, 09:46 AM
Interestingly enough:

I spoke to my mom the other day. In the UK the retirement age has been changed to 72

Rudolph Muller
03-15-2012, 10:18 AM
Interestingly enough:

I spoke to my mom the other day. In the UK the retirement age has been changed to 72Is this correct? It sounds very high - I thought it was around 60.

latro
03-15-2012, 12:22 PM
I tend to agree with you on this. However, in the flipside, the argument would be that with so few jobs up for grabs and unemployment so high, this would put even more pressure on unemployment by preventing the youngsters from getting some sort of income.

Agreed. Already incredibly hard as it is to find work as it is, especially in some professions.

Many of these older people have had a chance to save up to live comfortably. Granted many have not.

It's a precarious situation.

John
03-15-2012, 11:20 PM
This is a very tough argument. What we do know is that an aging society needs to be supported by working people. Lifting the retirement age is one option.

cerebus
03-17-2012, 02:04 PM
I feel people have a very mistaken idea about the employment situation - elderly people who work often do so in an expertise capacity, which is sorely needed - it's their experience that makes them valuable to an organisation, not their physical stamina. A young person, even if he or she is struggling to find work, is not going to find that they can replace the function provided by the elderly in the workforce. I know in my previous role there was a fairly aged woman who provided a consultatory role, and her storehouse of experience was formidable.
Additionally, companies that have access to high-level expertise tend to thrive - they become net employers for the younger segment. At least, I could be talking nonsense but intuitively it seems that this would be logical.

McT
03-17-2012, 02:19 PM
I feel people have a very mistaken idea about the employment situation - elderly people who work often do so in an expertise capacity, which is sorely needed - it's their experience that makes them valuable to an organisation, not their physical stamina. A young person, even if he or she is struggling to find work, is not going to find that they can replace the function provided by the elderly in the workforce. I know in my previous role there was a fairly aged woman who provided a consultatory role, and her storehouse of experience was formidable.
Additionally, companies that have access to high-level expertise tend to thrive - they become net employers for the younger segment. At least, I could be talking nonsense but intuitively it seems that this would be logical.

Interesting thoughts here. And very true.

robt
03-19-2012, 05:27 PM
A young person, even if he or she is struggling to find work, is not going to find that they can replace the function provided by the elderly in the workforce.


Spot on!

The thing that is starting to worry me is the level of candidates I'm getting out of University. I don't know what's going on with our education system but it doesn't look good.

It takes me at least a year to train these new graduates to even do a half decent job.

I'm all for govt paying companies to train these youngsters because they leave uni or college with so few skills that we can use.

g@dget
03-19-2012, 05:37 PM
Agree fully that retirement should not be compulsory at a certain age, but health and contribution to the work should be considered. I have seen how a excellent worker are being forced to retire while a replacement can not be found!~

McT
03-19-2012, 08:41 PM
Agree fully that retirement should not be compulsory at a certain age, but health and contribution to the work should be considered. I have seen how a excellent worker are being forced to retire while a replacement can not be found!~

That's called shooting yourself in the foot.

FirewallSA
03-23-2012, 09:07 AM
I do not know whether their is a law or any other document providing guidence on retirement age.
As far as I know each company sets it's own retirement age.
Where I work it is at the age of 60 and it does not matter whether you are in good health.

It will be difficult in large companies, but they should try to have different retirement ages for different positions.
For example:
The the job requires you to do heavy lifting, your body can only take so much punishment before breaking so to speak and thus such jobs need younger employees.
Office employees use primarily their grey matter or at lease I hope so and should then be able to do the same job for a longer period.

The main reason I think for such policies is that in our County there is problem with over population and an extream unemployment.

Interesting Read: http://www.ens.co.za/images/news/201003_ilo_empLaw.pdf