At what age should one retire? Do you believe in working until way into the 70s? Or does the buck stop at age 65?
The French government recently passed a controversial bill, amidst a stormy session, that will raise the retirement age from 60 to 62 by 2018. This caused more than two million workers to take to the streets protesting this proposal. Union leaders have threatened a nationwide open-ended strike if it becomes law.
France, a country whose state provides a short working week, free schooling, and long summer vacations, fiercly guards its savoir vivre. One demonstrator commented that the French should not be imitating the British, whose retirement age is set to rise from 65 to 67.
But Jean-François Cope, leader of President Nicolas Sarkozy's UMP party in the lower house, said this move is necessary to revive France and to cope with a rising aging population. He also said the French need a new mindset, in that if we live longer we work longer. Most French nationals do recognize the need to overhaul the retirement system.
At the moment, people in France can retire at 60, provided they have paid social security contributions for 40 years, but they aren't entitled to a full pension until they are 65. These new reforms will raise the pension age from 65 to 67 and increase the social security contribution requirement by one year. The majority rely on the state pension and don't contribute to private pensions. Most French nationals start working at age 26 or 27 so they have a shorter work life span.
Most of the demonstrators, however, know that their protests won't make much of a difference. Perhaps they'll resign themselves to their fate?
Here's a list of current retirement ages in Europe:
France - 60
UK and Italy - 65 for men, 60 for women
Germany, Netherlands, Spain - 65
Greece - 65 for men, 62 for women
US and Canada - the average retirement age is between 62 to 66, but it is not set. In Canada, mandatory retirement bit the dust, except in some cases for jobs where physical ability is required, such as firefighting and police work, or mental ability such as air traffic controlling.
Let's have your thoughts. We live in an age where most people don't like their jobs and want to retire as soon as possible. But we also have some workers past age 65 still in the workforce. Do you believe that these "pensioners" should step aside and leave the workforce so that the young or underemployed have a chance? Do you believe that older workers are an asset? Do you believe in a mandatory retirement age?
Do share with us!