We're a little disappointed" to see the IRS publish a final normal retirement age
rule in a stand-alone regulation without providing a separate comment period for that role, Jacobson says.
Many of these people will be compelled to decide whether to collect Social Security benefits early or to wait until the normal retirement age
The government is also creating a new right for people to work beyond the compulsory retirement age
, which employers will have a duty to consider.
The investment return on assets and the retirement age
are the two assumptions currently under investigation by the Service.
Thus, increasing the normal retirement age
lowers benefits at all early retirement ages
and provides new financial incentives to remain on the job longer.
Pending legislation in Congress calls for raising the mandatory pilot retirement age
, which has long been age 60.
Business leaders in Birmingham have reacted angrily to the Government's decision not to raise the retirement age
for public sector workers.
The expected retirement age
for pre-retirees is 66 (mean), while 17 percent of pre-retirees plan to work beyond 70.
A total of 89 MPs would have had to stand down if they followed the "default" retirement age
, while most politicians would be out of work within 10 years, said charities Age Concern and Help the Aged.
By failing to scrap mandatory retirement ages
in the workplace however, the Government has already fallen at the first hurdle.
Other safety-sensitive occupations such as firefighters and air traffic controllers also have mandatory retirement ages
By taking action against retirement ages
below 65 we offer workers clarity and more choice.