The retirement age of sixty is increasingly viewed as outdated in many countries due to medical advancements and rising life expectancy. As a result, numerous nations are raising the retirement age to 65, and some are even extending it to 70 years within their advanced healthcare systems.
Critics of raising the retirement age argue that it could hinder opportunities for new graduates and young people entering the labor market, violating the principle of equal opportunity. However, others contend that current economic conditions lead many to pursue government jobs primarily through distinguished skills or connections, often seeking opportunities even before graduation.
In this context, it might benefit the government to raise the retirement age specifically for holders of university degrees and skilled professionals while maintaining the current age for other sectors. This approach could help integrate younger workers suited for physically demanding jobs.
Proponents of increasing the retirement age to 65 argue that it could bolster pension funds and support the national economy by leveraging the experience of older professionals. In fields like medicine, engineering, and journalism, retiring at sixty can result in significant losses, both for the economy and for organizations that could otherwise benefit from decades of expertise.
Experts in management science suggest that retirement at sixty is no longer appropriate given the potential value of a sixty-year-old citizen’s accumulated experience, vitality, and productivity. By raising the retirement age, pension duration is reduced, allowing for increased contributions to the treasury and a more sustainable pension system.
Conversely, some believe that extending the retirement age could exacerbate unemployment rates, as it would prevent younger individuals from entering the labor market. They argue that allowing retirement at sixty facilitates youth employment and helps mitigate unemployment levels. However, in the current political, economic, and social climate, this perspective may overlook the potential benefits of utilizing the skills and experience of older workers.
This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.
