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  #91  
Old 07-29-2010, 08:33 AM
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Nigeria, retirement age for judges
http://allafrica.com/stories/201007260500.html
Quote:
A Supreme Court Justice nominee, Justice Suleiman Galadima yesterday canvassed for the review of the retirement age for judges from High Court to the Supreme Court, suggesting that 80years would be appropriate for both the Supreme Court and the Appeal Court, while the High Courts should be pegged at 70 years.
....

Justice Galadima on his part, said judges at the Supreme Court should retire at 80 years, while recommending 70 years at the High Court. He argued that since at 70 the aged are always sober and reflective of their final end, they should not be removed from the system at that age. Peculiar to the judiciary, but noted that corrupt judges were being purged from the system.
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  #92  
Old 08-02-2010, 08:15 AM
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UK
http://www.washingtonpost.com/wp-dyn...072900568.html

Quote:
- Britain announced plans to scrap the fixed retirement age next year, saying it wanted to give people the chance to work beyond 65, but business leaders warned the move would create serious problems.

Currently, employers can force staff to retire at the age of 65 regardless of their circumstances and without having to pay any financial compensation.

Under the government's consultation proposals, the default retirement age (DRA) would begin to be phased out from April 2011 and come to an end by October next year.

Ministers said the move was designed to give people more choice as they enjoyed longer and healthier lives.

However, with Britain needing to cut public spending to address a record budget deficit, the move would see people paying tax for longer.

In January, Britain's Equality and Human Rights Commission argued that abolishing the DRA would inject 15 billion pounds ($23.43 billion) into the economy.



The proposals will also include a review of when the state pension age should be increased to 66 and to re-establish the link between earnings and the basic state pension.

Italy
http://www.google.com/hostednews/afp...ZPGfp7yijPc_MA
Quote:
As pension reforms spark outrage across Europe, the Italian government has quietly raised the retirement age by more than three years as part of an austerity plan passed into law Thursday by parliament.

"It's Europe's most sweeping pension reform, (approved) without a single day of demonstrations," crowed Economy Minister Giulio Tremonti last week.

The unpopular austerity measures totalling 25 billion euros (32 billion dollars) call for a three-year salary freeze for public workers, a 10 percent cut in ministry budgets, less funding for local governments and more action to combat tax evasion, among other measures.

But in a shift largely ignored by the Italian opposition and by the media, the new law, building on broad outlines approved last year, will also raise retirement age gradually from 2015 in a complex system tied to life expectancy.

The national pensions institute INPS says its current estimates show that by 2050 people will be retiring more than three years later under the reform, and the state will have saved 86.9 billion euros.
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  #93  
Old 08-08-2010, 09:49 AM
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This is more interesting for the odd translation into English (from whatever) than the actual story:
From the Arab Emirates -
http://topnews.ae/content/23439-impu...ng-pension-age

Quote:
Previous this week, the Government had been setting up to bring frontward the procedures to augment the state retirement age for men from 65 to 66 keeping in mind the mounting life expectancy rates.

A six-week public discussion, that concludes today, has been taking capitulation regarding the best date to commence this, with ministers expressed to favor the year 2016 or even 2015.

The National Association of Pension Funds has swayed the warning signals that this is simply not long adequate for workers to organize for a later on retirement.

As many people retire earlier than 65, the body expressed that poignant the date ahead so quickly that might rebuff them sufficient time to hoard for the years flanked by leaving work and assembling their pension.
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  #94  
Old 08-09-2010, 07:25 AM
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UK
http://www.upi.com/Business_News/201...0911281108281/

Quote:
The National Association of Pension Funds in Britain warned a change in the retirement age before 2016 would not leave workers time to adjust.

The NAPF, near the end of a six-week period of accepting public feedback on proposals to bump the retirement age for men from 65 to 66, said a change within six years was "simply not long enough" for retirement planning.

For women, the proposal includes bumping the retirement age to 65 by 2020 and to 66 by 2026, which would put both genders on equal footing.
....

"Many people now in their mid to late-50s have made quite detailed retirement plans, and they will be unable to recalibrate their savings to cover the state pension they will lose. And those in their 50s who have already retired will have a shortfall in income for that lost year," she said.

The fundamental shift prompting a rise in the retirement age is increased life expectancy, the newspaper said.
Here's a plan: don't retire in your 50s.

How hard was that?

Lots of people have had to "recalibrate" their expectations due to a freaking huge recession, and many didn't get much of a warning on that. A lot less warning than the increasing life expectancies which have been noticed for decades.

Dear lord.

In short: I doubt this little pronouncement is going to have any impact on the proposed retirement age change in the UK.
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  #95  
Old 08-16-2010, 09:06 AM
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Germany:
http://www.google.com/hostednews/ap/...wm9HQD9HH68U00

Quote:
A German think tank is arguing that the country's retirement age will eventually have to be lifted to 70.

The conservative economic think tank IW said Wednesday that low birth rates and growing life expectancy leave no way around increasing the retirement age again.

The government decided in 2007 to gradually lift the legal retirement age from 65 to 67 from 2012 through 2029.

IW chief economist Michael Huether told the Rheinische Post newspaper that the government should continue to push back retirement after 2029.

There's little sign of any political will to do so. Raising the retirement age to 67 has been an issue of heated debate, and opposition parties argue there already are too few employment opportunities for older people.
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  #96  
Old 08-16-2010, 11:33 AM
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Default Save More or Work Longer

The simple answer is that countries and people have to save more and invest it if they want to live off their investments longer.

If Germans want to retire at 65, instead of 70, then they need to start making larger contributions sooner. The same applies to lots of others.

The alternative to higher savings is to live poorly in retirement.
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  #97  
Old 08-18-2010, 09:57 AM
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http://volokh.com/2010/08/17/work-co...he-professors/

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With an aging population that is both more healthy and long-lived (compared to the original participants in social security arrangements in developed world countries), there is widespread agreement that people need to work and be productive longer in their lives. Hence the arguments in Europe over retirement at 62 or 67, and somewhat similar arguments over retirement ages and benefits for public employees, among others, in the United States. But these debates tend to leave out an important dimension — what kind of work should these older workers be doing, and at what kind of compensation?

The dilemma is this, inelegantly stated. The argument for working longer says that we need the productive labor of these people. Fine. But if you look at workplaces — this debate over universities is a good example — what we see instead is a perceived need to get these workers out of the way to make way for a new generation that will be more dynamic, innovative, produce the new ideas, methods, innovations, etc., that will increase productivity and hence standards of living. Whether you think that is true of university professors or not — it is not a stretch to believe that this is a problem for the economy as a whole.

On the one hand, we demand that older people work longer. On the other hand, we want them out of the way so that new and younger people will new ideas and energy and innovations will carry productivity forward.
and more at link.
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  #98  
Old 08-22-2010, 10:45 AM
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UK


http://www.dailymail.co.uk/news/arti...=feeds-newsxml

Quote:
The state pension age needs to rise to 72 within 20 years to keep pace with increases in life expectancy, a think-tank said yesterday.

In 1981 people typically received the state pension for 25 per cent of their life, according to the Pensions Policy Institute.

But by 2000 increased longevity meant that the proportion of their lives during which people received the benefit had jumped to 30 per cent. It had increased to 33 per cent by this year.

The think-tank said if the Government wanted to maintain the amount of time people could claim the state pension constant at the 1981 level, it would need to increase the age at which they first received it to 72 by 2030.

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  #99  
Old 09-02-2010, 10:42 PM
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http://www.nytimes.com/aponline/2010...nt-Age.html?hp

Quote:
Massive street protests planned for next week won't dent the French government's resolve to raise the retirement age from 60 to 62, the labor minister said Thursday.
Someone should show up at the protests, handing out Galoises. Keep the retirement age low --- smoke up!

But considering what we heard about heavy drinkers vs. teetotalers recently, someone should start a temperance campaign in France.
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Old 09-03-2010, 03:02 PM
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I believe that the notion of needing people to retire to get "out of the way" is an incorrect perception that may only apply narrowly. In the book, "Immigrants and Boomers," Dowell Myers presents data that indicates that the baby boom generation is the best-educated in history and that as they/we retire, the average education level of American workers is likely to decline. One concern is that there won't be enough skilled workers to take their places in the work force. So, increasing retirement ages would give the U.S. more time to address this issue.
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