In many countries today, the retirement age from work has been raised. Do the advantages of raising the retirement age outweigh the disadvantages?

Nowadays, many countries have implemented policies towards the rise in the retirement

age

to develop the

economy

, and

this

causes disputes about its benefits and drawbacks.

Therefore

,

this

essay will point out some arguments about why

this

method has more negative impacts. It is undeniable that lengthening the working

age

can positively impact a country's

economy

and society.

Firstly

, by working longer, elderly workers can have the financial security to expense personal purposes, mitigating a burden on pension funds.

Therefore

, the government can leverage these abundant financial resources to grow the

economy

by investing in crucial sectors,

such

as education, medical services, and domestic infrastructure.

Secondly

, young employees will have the chance to be instructed by older colleagues who have accumulated extensive experience and valuable expertise over the working years, leading to generating highly skilled workers.

This

can contribute to the country's rise in work performance.

Although

raising the retirement

age

can offer the aforementioned positive effects, I still contend that

this

phenomenon can risk human health issues and negatively impact the labour market. For elderly employees, their body functions will be impaired when they are aged, decreasing their performance. Their mental and physical health can be affected if they continue working in high-pressure environments like banking companies or law organizations.

Consequently

, they can be susceptible to severe illnesses like heart attacks, stress, and sleep disorders.

Additionally

, finding jobs can be challenging for recently graduated students because they must compete against their peers and the elderly workforce who continue working, increasing the unemployment rate. More importantly,

this

can cause a process of moving to other countries to work by high-skilled people, which is detrimental to a country's economic growth. In conclusion, the policy of raising the retirement

age

can develop the

economy

and sharpen young workers' skill levels.

Nonetheless

, it still has damaging effects on humans and society, adding more stress and exacerbating the unemployment situation.

Hence

, the government can boost the

economy

and enhance resident well-being by welcoming skilled immigrants and reducing working hours.