China is considering raising its retirement age, one of the lowest in the world, to address economic pressures from a shrinking workforce and growing elderly population. This move faces public concern over job competition and potential hardships for older workers, prompting discussions on equitable implementation.
More than half of Americans in swing states back proposals to trim benefits for high-income Social Security recipients in order to extend the program’s lifeline, a recent poll reveals. The poll, conducted by Morning Consult/Bloomberg, surveyed registered voters in key swing states and found that a combined 57% of respondents strongly or somewhat support reducing benefits for the wealthy. However, when asked about specific measures to extend the program’s solvency, such as raising the payroll tax rate or increasing the retirement age, support was more divided.
Millions of Brits may have to wait longer to receive their State Pension as the retirement age is set to rise amid an aging population and increasing life expectancy. Currently, the State Pension age is 66 but is expected to increase to 67 between 2026 and 2028, and then to 68 between 2044 and 2046. However, due to the increasing number of people living longer and healthier lives, younger and middle-aged workers are expected to face a longer wait before they can retire.
