Increasing lifespans and governments too strapped to pay benefits could force workers to work longer — a lot longer, predicts Robert Benmosche, chief executive of insurance American International Group Inc.
“Retirement ages will have to move to 70, 80 years old,” said Benmosche in a Bloomberg interview. “That would make pensions, medical services more affordable. They will keep people working longer and will take that burden off of the youth.”
The U.S. already has raised the age for full Social Security retirement for those born after 1942 to at least 66 and as high as 67 for younger workers.
With predictions the Social Security trust fund could run out of money as soon as 2033, more people are calling for a delay in benefits. But, until now, no one has suggested 80 as the new retirement age.
So tell us …
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