Tag: retirement age
Unlike the United States, the United Kingdom has implemented bold reforms to its retirement system over the past decade. Two of the biggest changes were gradual increases in the minimum age for collecting a pension under the national social security program and requiring private employers to automatically enroll their workers in an employee savings plan…
Increasing the Full Retirement Age is not a third option; it’s an across-the-board benefit cut. In this campaign season, fixing Social Security is once again emerging as a major topic. As Figure 1 shows, the cost of the program as a percentage of payrolls is higher than revenues. In the short term, the gap can…
