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lowering the retirement age, thoughts?

Bolivia – Bolivia enacted a law Friday lowering the country's retirement age to 58, bucking a global trend in which countries push people to work longer to counteract the burden on national treasuries of rising life expectancy.

Critics say the law, which also nationalizes the pension system and generously extends coverage to the poor, is unsustainable.

Leftist President Evo Morales signed the bill surrounded by members of the powerful Bolivian workers federation, which helped draft the law.

Bolivia's current retirement age is 65 for men and 60 for women.

The law, which takes effect in a year, also extends pensions to the 3 million people — 60 percent of the working population — who labor in the informal economy as everything from street vendors to bus drivers.

"We are fulfilling a promise with the Bolivian people. We are creating a pension system that includes everyone," Morales said at the signing ceremony.

Answer Question
 
sweet-a-kins

Asked by sweet-a-kins at 3:55 PM on Dec. 10, 2010 in Politics & Current Events

Level 34 (67,502 Credits)
Answers (18)
  • http://news.yahoo.com/s/ap/20101210/ap_on_bi_ge/lt_bolivia_retirement_age


    "Evo Morales thinks about the poor people, so they can have something for when they get old," said Juan Quispe, 45, a father of three without a pension who sells ice cream on the street outside the National Palace.


    The new law will allow Bolivia's 70,000 miners to retire two years earlier — or as soon as age 51 if they have worked in life-sapping conditions deep underground. Mothers with more than three children will also get special treatment: the right to retire at age 55.

    sweet-a-kins

    Comment by sweet-a-kins (original poster) at 3:56 PM on Dec. 10, 2010

  • Wow 58 that is too young to me, I know many people who can easily work past 60-65. I am extremely liberal, I think are current retirement age isn't bad - I couldn't imagine lowering it.
    daisysrdeadly

    Answer by daisysrdeadly at 3:59 PM on Dec. 10, 2010

  • I understand both sides what I don't know Is how am I going to work until I"m 68 my work is labor intensive?!
    MELRN

    Answer by MELRN at 4:00 PM on Dec. 10, 2010

  • Thoughts? My thought are this is a concern for the people of Boliva.
    grlygrlz2

    Answer by grlygrlz2 at 4:15 PM on Dec. 10, 2010

  • If they can sustain it...go for it. My Fil is finally retiring at 66 years old.
    Mom2Just1

    Answer by Mom2Just1 at 4:18 PM on Dec. 10, 2010

  • Thoughts? My thought are this is a concern for the people of Boliva.

    ***
    LOL...Beat me to it!! :o)
    LoriKeet

    Answer by LoriKeet at 4:22 PM on Dec. 10, 2010

  • I think it's silly. There is no reason to retire that young.
    sopranomommy

    Answer by sopranomommy at 4:29 PM on Dec. 10, 2010

  • Whatever, I don't imagine their situation is much different than anyone elses so I'd be expecting to hear about them wanting a bailout in the near future also.
    itsmesteph11

    Answer by itsmesteph11 at 4:33 PM on Dec. 10, 2010

  • I think it's silly. There is no reason to retire that young.

    ***
    Unless of course, you CAN afford to do so, because you have invested and saved wisely. That is my husband's plan--to be able to retire at 57--in 11 years.
    LoriKeet

    Answer by LoriKeet at 4:46 PM on Dec. 10, 2010

  • Most who say it's senseless are young & really have no concept how you will feel at that age. And, many against it here don't have jobs to know what it's like to work all and come home and take care of the home. I'm NOT saying SAHMs don't work. Household & kids is a tough job. But, add to that a thankless boss and 40+ years of 10 hour days (including drive time) AND keeping a home & kids & it feels like it just never ends. It feels like you're working till you die. I'm 51 and have worked since I was 15. I'm tired! I want time to enjoy life. Not give it all to a company that couldn't care less about me. By the time you're close to 70, your body is aging more & more. And, you can't do half the things you dreamed of doing while you were working your butt off when you were young. I actually want to LIVE before I die. Some ppl's life expectancy may have lengthened. But, not everyone's. My G'ma started showing signs of Alzheimer's..
    specialwingz

    Answer by specialwingz at 4:54 PM on Dec. 10, 2010

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