Many individuals think that due to extended lifespan the retirement age of people should be raised significantly. I personally believe that this development will help to make the individuals financially independent while also providing them with an active lifestyle.
The raise in the age of requirement will enable people to an active lifestyle and also provide them with financial security. Individuals who work in their late age is less likely to get affected by diseases. Due to their active lifestyle, they will appear physically fit and healthy. Moreover, they will be able to spend their money on leisure activities and personal interest as they’re financially stable. This will also help to reduce stress. For instance, Sabiha Alam, a nutritionist, has revealed that people who work and are active in their later age is more contend and happy with their life. It is because they don’t have to stress about money.
However, this development also have some drawbacks such as unemployment will increase and a little to no innovation or cahnges. As the retirement age of people increases the chances of employment decreases. Because there will be no vacancy to hire new recruits for the post that is already been taken by an aged senior employee. In addition, innovation requires fresh mind which is unlikely of an aged individual. Young generation will bring new development and ideas that will help to make work more convenient. For example, in Japan about 70% of their young population is unemployed as there is no vacancy or decent paying job left. As a result, innovation is delayed,so, is the overall development.
To conclude, this development result in the increase of the rate pf unemployment and delays innovation. However, it provides people with financial stability and a healthy lifestyle which is far more beneficial.