Retiring from work has been deemed as a healthy and long-awaited need of break after putting in a lot of time and effort into a certain occupation. Whether you get into your job because of deep passion or because of financial stability, there will come an age where you would want to enjoy life as it is without a single worry weighing off your shoulder. Therefore, the raising of age retirement age from work has its drawbacks due to several reasons.
First, retiring late isn’t essentially a bad look on anyone, and there are benefits one can gain from retiring an a later age than usual. One of them being getting a higher pension. Longer service hours contributes directly to the amount of pay deserved after serving the work with a lot of justice. Hence, with greater pension, comes greater financial stability in life after retiring. Apart from that, another reason why the retirement age has been set back is because of the efficiency in carrying out the work. Those who have served in the office for a longer period of time are more familiar with the in and outs of the system, which is more favoured by the authorities compared to novices.
However, some groups of people would disagree on the retirement age from work being raised. This is highly due to the fact that as people grow older, and have achieved a stable income, they would often find themselves wanting to find peace and solace in the comfort of their own home. Additionally, if they do continue working, they would do it unwillingly resulting in a drop in their work performance. Furthermore, when less people are retired, it will be more difficult for graduates to hunt for jobs immediately after completing their academic journey. Hence, they will more likely be trapped in financial burden due to through-the-roof tuition fees that are in debt.
In conclusion, while some people believe that retiring later in life would prove to be financially better, it is important to note that not all people are as committed and passionate about their job as they seem to be. It must be taken into consideration that the population is ever-growing and companies must make room for these young adults to step into work force and be independent.