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In some countries older people are being encouraged to work longer and not to retire. Discuss the advantages and disadvantages of working beyond retirement age.

#countries #people #work #retirement #age
Being financially independent and continue to work even after the
retirement
age
 is the new norm of society and widely prevalent in few
countries
. While some
countries
support
 the idea to allow old
people
 to work for few additional years and contribute
further
 to the economy and plan for
retirement
 in the later years. We must acknowledge that individuals who prefer to work at their jobs for longer tenure after the
retirement
age
 has a plethora of benefits.
First
 and foremost, they will be financially independent.
Moreover
, elderly
people
 often face mental illness or depression which could potentially be eliminated by following their regular jobs and daily routine.
In addition
, it
further
 helps the
government
 as the working
community
 contribute to
further
 tax payments and minimising the use of
government
 funds and healthcare resources.
For instance
, most of the developing nations
such
 as India, South America usually prefer the old
age
people
 to retire later to keep up with economic pressure as their respective
government
 provide very little financial
support
 for the retired
community
.
Nevertheless
, on the other side,
countries
 which
support
 the standard
retirement
age
 allow the individuals to spend some relaxing time with their loved ones and explore their passion and interests. To illustrate, most of the developed nations
such
 as Switzerland, France etc have a strong healthcare and social security system to
support
 the health and safety of the retired
community
. These
countries
 encourage
people
 to opt for early
retirement
 or flexible- job opportunities
thus
 providing them with the option to have a better work-life balance and enjoy one's life to the fullest.
Furthermore
, early
retirement
 options open new job opportunities for the young generation
thus
 keeping the unemployment ratio to the lowest. To sum up,
retirement
 at a suitable
age
 is a great option and the
government
 should
support
 the elderly retired
community
 by distributing essential healthcare funds and social security payments for the elderly to retire at a decent
age
 and live a comfortable life
thereafter
.
Submitted by anshika11 on

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Topic Vocabulary:
  • financial security
  • standard of living
  • ameliorated
  • mentoring
  • physical health
  • mental decline
  • workforce diversity
  • exacerbate
  • quality of life
  • employment opportunities
  • work-life imbalance
  • ageism
  • retirement planning
  • pension funds
  • job market dynamics
  • seniority
  • compulsory retirement age
  • productive capacity
  • intergenerational collaboration
  • mentality
  • employer attitudes
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