90.9 WBUR - Boston's NPR news station
Top Stories:
PLEDGE NOW
Here and Now with Robin Young and Jeremy Hobson
Public radio's live
midday news program
With sponsorship from
Mathworks - Accelerating the pace of engineering and science
Accelerating the pace
of engineering and science
Monday, March 18, 2013

Making A Case For Delayed Retirement

Janice Durflinger poses for a photo at her workplace in Lincoln, Neb., in August 2012. Durflinger is still working at age 76, running computer software programs for a bank. Still, she worries that a higher retirement age would be tough on people with more physically demanding jobs. (Nati Harnik/AP)

Janice Durflinger poses for a photo at her workplace in Lincoln, Neb., in August 2012. Durflinger is still working at age 76, running computer software programs for a bank. Still, she worries that a higher retirement age would be tough on people with more physically demanding jobs. (Nati Harnik/AP)

Economist Eugene Steuerle says that in a study he did for the Urban Institute, he and his colleagues found that people who delay retirement by working just one more year would increase their retirement income by nine percent.

Working an additional five years would raise retirement incomes by more than 50 percent, he said.

And, on average, delaying taking your benefits does not amount to a pay cut, Steuerle said, because of the increase in your benefits and income from delaying retirement.

Steuerle argues that working longer is even more important for poorer workers, because early retirement advantages the rich.

But he says, if we encourage later retirement, we also need to make provisions for people who cannot work longer because of their health or the nature of their work.

Steuerle also says that delaying retirement is good for the economy and creates more jobs for younger workers.

And he says because of our population demographic, there is just a plain economic need for older workers in the work force.

Should we all be working longer as we live longer? And should we raise the eligibility age for retirement benefits? Join the debate on Facebook.

Guest:


Please follow our community rules when engaging in comment discussion on this site.
Spotlight

Here & Now resident chef and cookbook author Kathy Gunst shares her list of the best cookbooks of the year.

Robin and Jeremy

Robin Young and Jeremy Hobson host Here & Now, a live two-hour production of NPR and WBUR Boston.

December 18 Comment

College Counselor: ‘A Deferral Is Not A Denial’

Lisa Micele shares tips for applying to college — especially for students who have been deferred under early decision.

December 18 17 Comments

America’s Political Dynasties

Americans under 38 have only experienced one presidential election that did not involve a Bush or a Clinton.

December 17 2 Comments

Atticus Lish’s ‘Preparation For The Next Life’

The author's debut novel centers on an unlikely romance between an Iraq veteran and a Uyghur from China.

December 17 3 Comments

Diagnosing Ear Infections With Your Smartphone

The CellScope Oto is a clip-on gadget that turns a smartphone into an otoscope — the tool doctors use to check out a patient's eardrum.