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#1
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![]() Thought I'd split this theme off from my public pensions thread. I've been finding more items related to this in my pension searches.
UK: http://blogs.thisismoney.co.uk/this_...sed-to-70.html Quote:
For this thread, I'm looking for stories related to private or public pensions changing the retirement ages. |
#2
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![]() Well, just for completeness, I'll summarize the changes in Social Security's normal (or "full") retirement age:
The NRA was age 65 from enactment of the Social Security program, in 1935, until 1983. (By the way, early retirement -- but not before age 62 -- became available for the first time in 1956 for women and 1961 for men.) The 1983 legislation increased the NRA from 65 to 67, but deferred for 17 years and then very slowly. Workers born before 1938 (age 45 or older in 1983) were totally exempted from changes in the NRA (though they were subject to numerous other changes enacted into law then). For workers born in 1938 (and who would reach age 62 in 2000), the NRA was 65 years and 2 months, and it rose by 2 months for each year of birth, until reaching age 66 for workers born during 1943-54. It then resumed rising by 2 months per year of birth, until reaching age 67 for workers born in 1960 or later. And that's where it remains for now. Note that workers born in 1960 will reach age 67 in 2027. The 1983 legislation did not raise the early-retirement age, which remains age 62. Bruce |
#3
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![]() ...and to follow up on that, the Academy recommended that the NRA continue to increase, but did not recommend any particular formula/rate of increase/etc.
http://actuary.org/pdf/socialsecurit...oard_aug08.pdf Quote:
And there was a Capitol Hill briefing and a news conference, involving Tom Terry and Bruce: http://actuary.org/briefings/socsec_aug08.asp http://actuary.org/briefings/socsec_sept08.asp |
#4
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![]() On the one hand, there should probably be a better relationship between the retirement age and life expectancy. On the other, there needs to be acknowledgement that there is a correlation between age and disability, and there should be something in place for the not insignificatn fraction of sixtysomethings who truly can't work, maybe some sort of expedited review process.
__________________
2012 AO Rap Battle Champion Co-Legend of the Water Cooler(TM) |
#6
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![]() Quote:
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#7
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![]() It would be interesting if the age of first eligibility for old age benefits was pushed up.
I'm thinking that may be a no-go, but who knows? |
#8
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![]() It could be pushed up, or the reduction factor could be made closer to actuarial equivalence. I think it has been mentioned that people generally commence benefits at first eligibility, so that is the only age that matters. SSNRA is just one component of the benefit formula.
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#10
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![]() Pulling out stories that I originally linked in my public pensions thread:
http://www.scottishlife.co.uk/scotli...Jul09Page6.asp Quote:
I will excerpt an opposing view here: Quote:
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pension, retirement, retirement age |
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