In many countries today the retirement age from work has been raised. Do the advantages of raising the retirement age outweigh the disadvantages?
Nowadays, regulations for the increasing legal working
age
have been imposed in some countries. In my opinion, this
phenomenon has more positive aspects than drawbacks.
To begin
with, extending the retirement age
could potentially face some challenges. The first downside worth mentioning could be the potential performance decline among aged workers. Indeed, human concentration capability and health conditions, including mental and physical health, will diminish as they age
, leading to slow productivity. This
phenomenon could negatively impact business, reducing revenues. Another disadvantage that could arise if this
policy were published is the limitation of job opportunities for young labourers. Finding jobs might be challenging for young people when the elderly workforce keeps working longer. This
situation could lead to a high unemployment rate among young workers, putting pressure on the unemployment insurance fund and decreasing the growth rate of the domestic economy.
On the other hand
, I truly believe that regulations to increase the retirement age
could offer more benefits. First and foremost, these policies would help maintain economic stability. This
means that governments could alleviate the strain of pension systems and social security funds because the elderly workforce, which keeps working longer, has financial stability. Therefore
, governments can leverage this
amount to boost economic growth. In addition
, from a societal perspective, these regulations can have a positive effect on enterprises' development. By retaining older workers, local and international organizations can make use of their high job skills and valuable knowledge to develop the company. Consequently
, these aged employees can become senior tutors and transfer their priceless experience to new members, helping companies maintain a qualified workforce.
In conclusion, although
I understand that there are some disadvantages, such
as a decrease in performance and limited job opportunities for youths, I assume entirely that extending the working age
can bring more positive effects than negative ones.Submitted by Mads on
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