Is the retirement age going to get raised?

[Article 15]

WASHINGTON — Young Americans might not get full Social Security retirement benefits until they reach age 70 if some trial balloons that prominent lawmakers of both parties are floating become law.

No one who's slated to receive benefits in the next decade or two is likely to be affected, but there's a gentle, growing and unusually bipartisan push to raise the retirement age for full Social Security benefits for people born in the 1960s and after.

The suggestions are being taken seriously after decades when they were politically impossible because officials — and, increasingly, their constituents — are confronting the inescapable challenge of the nation's enormous debt.

Social Security was created in 1935 with a retirement age of 65, but since then life expectancy at that age has increased by about six years, according to the National Center for Health Statistics.

Today the full Social Security benefit retirement age is 66 for people born from 1943 to 1954. It then increases by two months for each birth year (66 years and two months for those born in 1955, 66 and four months for those born in 1956 and so forth), until those born in 1960 or later get full benefits at age 67.

Raising the age eventually to 70 could prove to be politically acceptable because it wouldn't have an immediate social impact, but it would demonstrate that politicians are resolute enough to mend one of the government's most popular social programs and to tackle the national debt.

More ...

 

[editec]

WASHINGTON — Young Americans might not get full Social Security retirement benefits until they reach age 70 if some trial balloons that prominent lawmakers of both parties are floating become law.

No one who's slated to receive benefits in the next decade or two is likely to be affected, but there's a gentle, growing and unusually bipartisan push to raise the retirement age for full Social Security benefits for people born in the 1960s and after.

The suggestions are being taken seriously after decades when they were politically impossible because officials — and, increasingly, their constituents — are confronting the inescapable challenge of the nation's enormous debt.

Social Security was created in 1935 with a retirement age of 65, but since then life expectancy at that age has increased by about six years, according to the National Center for Health Statistics.

Today the full Social Security benefit retirement age is 66 for people born from 1943 to 1954. It then increases by two months for each birth year (66 years and two months for those born in 1955, 66 and four months for those born in 1956 and so forth), until those born in 1960 or later get full benefits at age 67.

Raising the age eventually to 70 could prove to be politically acceptable because it wouldn't have an immediate social impact, but it would demonstrate that politicians are resolute enough to mend one of the government's most popular social programs and to tackle the national debt.

More ...

I think this is inevitable, really.

People are living longer so expecting the working people to support more and more and more retirees is a formula for disaster.

This is a compromise that is necessary.

 

[william the wie]

Eventually it will have to be linked to life expectancy. That can be expected to keep going up to 100-120 years further down the road.

 

[editec]

Eventually it will have to be linked to life expectancy. That can be expected to keep going up to 100-120 years further down the road.

We'd best find (read create) some work for the people, then.

Right now efficiencies in technology and of course the harnessing of the third worlds (much younger) workforce is making more and more of we Americans basically redundant.

 

[sparky]

we'll all be happy with the tired part of retired then?

 

[editec]

we'll all be happy with the tired part of retired then?

IN much the same way that we'll be happy eating the food that is part of the DOG FOOD, I suppose.

 

[Annie]

I've said that the retirement age must be raised for years now, should have started when life expectancies hit the 70's in 1970 at least. Actually the retirement age then was likely above 65. No one is going to force you to work, never has, it is when you may receive SSI and Medicare.

Both of which cannot be 'saved' with this change alone. Indeed I've said and still do that we should be able to receive back the money with interest that have been confiscated over X number of years, beginning at retirement age. Once that amount is returned, there should be means testing of some sort for X number of years, while SSI is phased out totally or made optional.

 

[code1211]

I've said that the retirement age must be raised for years now, should have started when life expectancies hit the 70's in 1970 at least. Actually the retirement age then was likely above 65. No one is going to force you to work, never has, it is when you may receive SSI and Medicare.

Both of which cannot be 'saved' with this change alone. Indeed I've said and still do that we should be able to receive back the money with interest that have been confiscated over X number of years, beginning at retirement age. Once that amount is returned, there should be means testing of some sort for X number of years, while SSI is phased out totally or made optional.

The SSI was not set up like a 401K. It's more like an annuity. That's the contract.

That said, in 1935, life expectancy for all races, both genders was under 60 on average. Now, in spite of the FACT that the USA has the absolutely worst medical care in the history of the Universe, life expectancy is just under 78 years for all. This is probably the greatest reason why the cost have risen so dramatically.

Taking th letter of the "contract", we should expect to have the same age benefit sunrise. Using the "spirit" of the law, we should begin to enjoy benefits if we outlive the average.

One last "however": While medicine has advanced to keep us from dying, we are still prone to things like joints locking up and brains, too. Being capable of producing while in a spirit is willing, but the flesh is worn out state is the reality.

Means testing? From each according to his needs or whatever? You plays the game and you takes your chances. If you die before 65, you get nada. If you survive to the finish line, you get the cash. Play by the rules.

Life Expectancy at Birth by Race and Sex, 1930–2005 — Infoplease.com

 

[The Rabbi]

Code1211, you are an idiot of the highest order.

On topic, age 65 for retirement was instituted by Bismark in Imperial Germany. The reason was that most people died in their mid 50s, so someone who reached 65 is about like someone reaching 85 today. We absolutely need to raise the retirement age otherwise the system will go bankrupt. I would gladly give up 2 years of benefits to insure many more.

 

[RadiomanATL]

Now, in spite of the FACT that the USA has the absolutely worst medical care in the history of the Universe,

Hyperbole much?

Or are the pirates in Somalia getting treatments at an African version of John Hopkins that I am unaware of?

 

[Greenbeard]

That said, in 1935, life expectancy for all races, both genders was under 60 on average. [...]
Life Expectancy at Birth by Race and Sex, 1930–2005 — Infoplease.com

Those numbers are for life expectancy at birth, which means they can improve because people are actually living longer or because things like infant/child mortality have fallen dramatically. Do you have any numbers specifically about how life expectancy at retirement has changed? How many additional years can a person who reaches retirement age in 2010 expect to live over someone who reached retirement age 60 or 70 years ago?

 

[Annie]

I've said that the retirement age must be raised for years now, should have started when life expectancies hit the 70's in 1970 at least. Actually the retirement age then was likely above 65. No one is going to force you to work, never has, it is when you may receive SSI and Medicare.

Both of which cannot be 'saved' with this change alone. Indeed I've said and still do that we should be able to receive back the money with interest that have been confiscated over X number of years, beginning at retirement age. Once that amount is returned, there should be means testing of some sort for X number of years, while SSI is phased out totally or made optional.

The SSI was not set up like a 401K. It's more like an annuity. That's the contract.

That said, in 1935, life expectancy for all races, both genders was under 60 on average. Now, in spite of the FACT that the USA has the absolutely worst medical care in the history of the Universe, life expectancy is just under 78 years for all. This is probably the greatest reason why the cost have risen so dramatically.

Taking th letter of the "contract", we should expect to have the same age benefit sunrise. Using the "spirit" of the law, we should begin to enjoy benefits if we outlive the average.

One last "however": While medicine has advanced to keep us from dying, we are still prone to things like joints locking up and brains, too. Being capable of producing while in a spirit is willing, but the flesh is worn out state is the reality.

Means testing? From each according to his needs or whatever? You plays the game and you takes your chances. If you die before 65, you get nada. If you survive to the finish line, you get the cash. Play by the rules.

Life Expectancy at Birth by Race and Sex, 1930–2005 — Infoplease.com

You're a fool, what you left out:

...we should be able to receive back the money with interest that have been confiscated over X number of years, beginning at retirement age. Once that amount is returned, there should be means testing of some sort for X number of years, while SSI is phased out totally or made optional....

Once the avg life span went over 70, retirement SSI benefits should have been tied age wise.

Heart and cancer treatment breakthroughs are the two most likely reasons that people are living longer.

 

[rightwinger]

WASHINGTON — Young Americans might not get full Social Security retirement benefits until they reach age 70 if some trial balloons that prominent lawmakers of both parties are floating become law.

No one who's slated to receive benefits in the next decade or two is likely to be affected, but there's a gentle, growing and unusually bipartisan push to raise the retirement age for full Social Security benefits for people born in the 1960s and after.

The suggestions are being taken seriously after decades when they were politically impossible because officials — and, increasingly, their constituents — are confronting the inescapable challenge of the nation's enormous debt.

Social Security was created in 1935 with a retirement age of 65, but since then life expectancy at that age has increased by about six years, according to the National Center for Health Statistics.

Today the full Social Security benefit retirement age is 66 for people born from 1943 to 1954. It then increases by two months for each birth year (66 years and two months for those born in 1955, 66 and four months for those born in 1956 and so forth), until those born in 1960 or later get full benefits at age 67.

Raising the age eventually to 70 could prove to be politically acceptable because it wouldn't have an immediate social impact, but it would demonstrate that politicians are resolute enough to mend one of the government's most popular social programs and to tackle the national debt.

More ...

Its the only way to save Social Security

As the average life expectancy increases, it makes sense to raise the retirement age

 

[code1211]

Code1211, you are an idiot of the highest order.

On topic, age 65 for retirement was instituted by Bismark in Imperial Germany. The reason was that most people died in their mid 50s, so someone who reached 65 is about like someone reaching 85 today. We absolutely need to raise the retirement age otherwise the system will go bankrupt. I would gladly give up 2 years of benefits to insure many more.

What office did Bismark hold in the government of the United States?

By the way, thank you for the award. I thought I was just a regular, run of the mill idiot like everyone else. What order in the idiocracy do you occupy that allows you to confer that honor?

 

[code1211]

Now, in spite of the FACT that the USA has the absolutely worst medical care in the history of the Universe,

Hyperbole much?

Or are the pirates in Somalia getting treatments at an African version of John Hopkins that I am unaware of?

Just being facetiious and reaching for a little satire. Looks like I missed.

 

[code1211]

That said, in 1935, life expectancy for all races, both genders was under 60 on average. [...]
Life Expectancy at Birth by Race and Sex, 1930–2005 — Infoplease.com

Those numbers are for life expectancy at birth, which means they can improve because people are actually living longer or because things like infant/child mortality have fallen dramatically. Do you have any numbers specifically about how life expectancy at retirement has changed? How many additional years can a person who reaches retirement age in 2010 expect to live over someone who reached retirement age 60 or 70 years ago?

I'm not sure I'm reading this one right. It looks like if you were 65 in 2006, you had about 18.5 years to gdt things concluded if you were absolutely average.

http://www.census.gov/compendia/statab/2010/tables/10s0105.pdf

 

[Greenbeard]

That's good but now you need comparable numbers from the 1930s or '40s or '50s so we have a little context.

 

[Care4all]

My retirement age has been changed. when I started working and maybe a good 20 years in to it, the retirement age of 65 that I was promised was changed and increased to 67 I believe?

So, no reason for this not to happen to the next generation down from me....

 

[B. Kidd]

The average life expectancy for males is age 76 and five years longer for women.
Let's only up the retirement age for women.

 

[Harry Dresden]

Now, in spite of the FACT that the USA has the absolutely worst medical care in the history of the Universe,

my god...who the hell fucked with your head......