It is widely argued that the age of work retirement has been increased. This essay attempts to shed light on both the merits and demerits tendency. Before concluding that I am in favor of the latter notion.
On the one hand, the rise of age retirement from work could be advantageous to a certain extent. First and foremost, the workforce could contribute to the economy for a longer period. As a result, they would help to boost in tax revenue and support economic growth, which leads to improving the nationwide infrastructure. Furthermore, older workers could have numerous valuable expertise and mentorship. For instance, in some companies in Vietnam, veteran workers work for a company for a long time, and they are likely to have more work experience. Consequently, they could train younger employees to make them a more skilled and competent workforce in the international job market.
On the other hand, there are a host of compelling reasons as to why I am convinced that the expansion of age retirement from work could have an undesirable impact. One rationale is that the rise in retirement age would limit job opportunities. This is because if senior employees stay in a company for a long time, there are no vacant positions and organizers don’t have to recruit more employees, and then the rate of youth unemployment may increase. Subsequently, this tendency would lead to frustration and economic hardship due to an increased unemployment rate. Another justification is that this phenomenon could be detrimental to older workers’ overall health issues. To be more precise, raising the retirement age could force them to work in unsuitable conditions, while their health cannot withstand those jobs. Consequently, this could lead to a worst scenario, such as high blood pressure, or even stroke while working.
In conclusion, while it is irrefutable that the rise in age retirement from work could have some upsides, I would contend that the downsides which it offers are significantly more noteworthy