The age of retirement has been raised in most countries now. It could have both positive and negative effects. Having an opportunity to contribute skills to the company and increased income for an extended time frame speaks to the advantage side, whereas increased risk of health issues can move toward the negative side. Both the benefits and the risks associated with the increase in retirement age will be discussed here.
Increased chances of contributing to the company via skills a person possesses may favor the debate, causing a positive trend. Not only can contribution toward the company be made, but the individual can also access benefits that the employer can provide to the employee. For instance, one can spend his old age not just falling into depression that he might not get to work in the future, but rather spend time with fellow workers, extending his happy life. Adding to that, he or she can experience the help which they could get from the employer.
However, health issues are one of the major problems that a near-retirement person could face. By now, he or she might be facing one or another small problem related to their well-being. This could even get worse if the elderly try to live the life of a corporate employee in their late 50s. As an example, the person might be stressed in maintaining the time schedule for projects, which could result in high blood pressure, a commonly seen problem in this age group.
In my opinion, even if the advantages of an extended time frame for retirement is seen as beneficial, it is also associated with lifelong disadvantages that not only the person but also the family will have to suffer in the future.