People live longer today and so people should stay in the workforce. To what extent do you agree or disagree ?

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The average life expectancy has shot up from 26 years at the turn of the century to 74 years today.
Hence
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, there is an obvious demand to increase the retirement age limit, so that experienced
people
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can continue working. I do not fully agree with
this
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demand and in the following paragraphs, I will justify my views.
Firstly
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, there is a good case for senior but
otherwise
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healthy
people
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to continue working.
Thus
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, they will contribute to the economy and not be a burden.
Also
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, the relative worth of an experienced employee is very high for any company and
this
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collective wisdom is very important for the company's growth. But, there is a cost for
this
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experience. Most of the senior
people
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hold the higher rungs of leadership, and
thus
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young, enthusiastic leaders do not get promoted in time.
This
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breeds resentment in the organization.
For instance
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, 'young Turks, of the Indian National Congress broke away to form a separate party, as they were not allowed leadership roles.
Secondly
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, aged
people
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become risk-averse.
Hence
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, these seniors do not take bold decisions which are needed for companies to survive in a dynamic world with cut-throat competition.
For example
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, the Tata group of companies was slowly stagnating away due to primitive management policies. A young Ratan Tata took over and steered a new course of success for the company. To summarize, we need to exploit the wisdom of the elders and at the same time give
opportunity
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the opportunity
an opportunity
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to the youngsters. In my humble opinion, the best way forward is to form consultative bodies of seniors and executive bodies of juniors.
Submitted by anubratadas on

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Topic Vocabulary:
  • life expectancy
  • financial resources
  • retirement fund
  • cognitive functions
  • social interaction
  • wealth of experience
  • expertise
  • social security systems
  • dependency ratio
  • employers
  • adapt workplaces
  • job retraining
  • flexible working hours
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