Job Market Monitor
Retirement Age
Australia – To raise the nation’s retirement age to 70
Australian Treasurer Joe Hockey wants to raise the nation’s retirement age to 70, the highest in the world, to prevent an aging population from draining state coffers. Miner Noel Chatterton laughs at the idea.“Good luck with that,” said the driller, who at 48 will be among the vanguard of workers who would be affected by … Continue reading
China / Official clarifications on retirement policy
A Chinese human resources official has denied that planned changes to retirement age will start with either civil servants or those engaged in heavy physical labor. Hu Xiaoyi, deputy head of the Human Resources and Social Security Ministry, made the remarks at a press conference to elaborate on the policy. Speculation surfaced on the Internet … Continue reading
China / Retirement age would be advanced a year
Workers in the mainland who want to stay in their jobs longer may be disappointed as a senior party spokesman said the retirement age would be advanced up to a year later as part of an experiment to deal with the country’s increasingly aged population Continue reading
US Social Security / The real retirement age is 70
ue to increases in Social Security’s Delayed Retirement Credit, the effective retirement age is now 70, with monthly benefits reduced for earlier claiming Continue reading
US / Why Is Age 65 Still a Retirement Peak?
‘In order to address an immediate and long-term funding problem, the Social Security Amendments of 1983 gradually increased the Full Retirement Age (FRA), changed the actuarial adjustment for individuals claiming benefits between the early and full retirement ages, and increased the delayed retirement credit. Together, these changes increase the financial gain to individuals who delay … Continue reading
Update | AS Social Security run out of money retirement at age 65 could be delayed
Social Security program to run out of money by 2035 | Economy | News | Financial Post The Social Security program will exhaust its trust fund in 2035 and have to start reducing benefits to senior citizens unless Congress intervenes, its trustees said. That is three years sooner than projected in 2011 for the retirement … Continue reading
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