Tuesday, August 16, 2011

Study: Looking at Rising Retirement Ages in United States

The Center for Retirement Research at Boston College has released an issue brief discussing the rise in retirement ages for both men and women aince the mid-1990's. According to "What Is the Average Retirement Age?" by Alicia H. Munnell, the average retirement age in the United States has risen from 62 to 64 for men, and from 60 to 62 for women.

According to Munnell, factors leading to the rising retirement ages include:
  • changing incentives in Social Security and employer pensions;
  • better education and health coupled with less strenuous jobs; and
  • the decline in retiree health insurance.
In addition, she notes that more older women are working today because more of them started working when younger. In addition, the factors leading to the increased retirement ages suggest the trend toward later retirement will continue but risks remain, such as the move away from career employment.

Source: Center for Retirement Research at Boston College Press Release (August 16, 2011)

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