Some say that because many people are living much longer, the age at which people retire from work should be raised considerably. To what extent do you agree or disagree?
It has been proposed that the retirement age should be significantly extended due to the fact that there has been an improvement in people’s life expectancy. In my opinion, I disagree with this statement simply because it will raise the unemployment rate and also it will create hopelessness among the youth.
At the outset, the improved life expectancy of men and women is a joyous celebration to all human beings, although it should be in line with retirement age since it will escalate the rate of jobless young men and women in a particular nation because their areas of expertise would be occupied by the aged group of people. For instance, there would have been a reduced unemployment rate if the retirement age was a bit lower than it is currently in Uganda. Additionally, the infinite hopelessness among the youths will be high because they will remain idle and disorderly even after graduation, and this will create economic inequality within the nation. For example, in developing countries, the financial status among the low aged group of people is too low compared to that of old aged.
Conversely, to a smaller extent, it will build a proper transition of skills from the elderly to the young generation since ancient men and women will be able to impart knowledge and professional skills while at work as well as guide the newest era during their initial stages of professionalism. For instance, if I was not mentored by my supervisor during my amateur level of professionalism, I would not have acquired all the skills I possess.
To sum it up, it is a great achievement when the life expectancy is raised, but it cannot interfere with the working ages. Therefore, I do not recommend the extension of the retirement age for the elderly.
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