There has been a remarkable increase in retirement age from work in multiple nations across the world. This essay will argue that the advantages of this phenomenon outweigh its disadvantages.
On the one hand, some drawbacks of this trend should be taken into consideration, primarily health concerns for old workers. Take builders as an example. Forcing old workers to stay in such a physically demanding field puts a strain on their health outcomes. Hence, it is not optimal for the old to work in such positions later on in life. Another thing to acknowledge is workplace competition. Increasing the retirement age welcomes the old to stay in the field for longer while lowers the chance of work exposure for new workers. This could result in lower professional skills in the future generations. This is the case for the politics field, where the retirement age is significantly higher than other industries, making it extremely challenging for newcomers.
Despite having drawbacks, I strongly believe that raising the retirement age offers further benefits to our community. With the ongoing low birth rate in many societies, having high retirement age makes up for the loss of labor resources, providing better productivity for the national economy. This is evident in Japan with a significant number of elders as opposed to the petite number of newborns, where having old workers is the solution to the lack of labor force. Moreover, allowing the old to work for more time fulfills their wishes to have financial security later on in life. For example, in Korea, most retired citizens barely afford their necessities by relying on social welfare, hence, giving them more years to work allows them to accommodate fundamental needs in life. Therefore, increasing the age for retirement not only provides better productivity for the nation, but also secures financial incomes for old citizens.
In conclusion, while the trend of having a higher retirement age recorded some drawbacks, it is characterized by its significant benefits. Therefore, I support that this phenomenon’s advantages outweigh its disadvantages.