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CRW2 Tue/Thu class; Unit 10 Ageing (Lesson 1)

June 7, 2020

The assignment is due Thursday, June 11th by 1:30 PM. Please write a paragraph where you give your opinion on the following question:

Should governments raise the retirement age to reduce the amount paid out in pensions?

26 Comments leave one →
  1. dojunrok permalink
    June 9, 2020 7:08 pm

    I don’t think the government should raise the retirement age. If the government raises the retirement age to reduce the amount paid by pensions, jobs for young people will be further reduced than now. Young people can’t get jobs unless their superiors take up positions at the company and the company doesn’t hire new employees because of this. Also, if the government does so, it is only a temporary solution and not a permanent solution. Therefore, it is a wrong solution for the government to reduce pension payments in a way that raises the retirement age. Of course, policies related to the elderly must be accompanied, as it is gradually becoming an aging society. I think the government should help people who have retired instead of raising their retirement age. For example, there may be ways for the government to connect retirees with jobs that can be simple to work on, or provide them with education to manage their wealth they have earned so far.

  2. Lee Jun Young permalink
    June 9, 2020 9:27 pm

    I think we should raise the retirement age to reduce the amount paid out in pensions. With the low birth rate and the increase of aging population, the number of people who can pay taxes has been decreasing, while the number of elderly people who fully enjoy tax benefits has been increasing. Running a country requires a lot of taxes, and there will be a shortage of taxes to operate. Eventually, the government will have to raise tax rates or cut budgets for social welfare to cover the necessary taxes in the near future. Higher tax rates will aggravate the economic burden on the economically active population, and cuts in welfare budgets will add the medical burden on the elderly. Therefore, I think it is appropriate for the government to extend the retirement age to prevent these expected damages. By putting off retirement, economic damage to young people can be reduced and older people can live a more active and healthy life while continuing economic activities.

  3. Bang Seungwon permalink
    June 10, 2020 11:58 am

    Government should raise the retirement age. In modern times, life expectancy and average age has increased with the advancement of medicine, development of science, and healthy diet. However, the retirement age is lower than the average life expectancy that has increased. As the number of senior citizens increases and retirement age is low, there will be more people living without income in society. Without income, their quality of life would deteriorate. Then, if the elderly live without income, the government should give them pensions such as minimum cost of living so that they can continue their lives. As a result, pensions for the elderly will increase. This is not just a problem for old people. The pensions are covered from the income, taxes of young people. Although people’s fast retirement can increase job openings for young people, it will make it harder for them to pay the taxes. Therefore, I think the government should raise the retirement age in line with the trend of an aging society.

  4. Kim Seokchan permalink
    June 10, 2020 1:18 pm

    Governments should not raise the retirement age to reduce the amount paid out in pensions. Life expectancy in modern society is gradually increasing. The increase in life expectancy means that people have more time to work and more time to receive pension after retirement. Its meaning is in line with the goal of the government’s social security system, which allows all workers to enjoy good old age life after retirement. However, those who are against this point refer to financial issues such as taxes. I agree with some aspects of that financial issues, but I think there are some more problems in that position. First of all, if the retirement age increases, the problem arises that employment of young people decreases. The problem of young people not getting a job is going worse. If the government increases the retirement age, this problem will become more serious. Secondly, the government cannot guarantee retirement for workers who have been underpaid. This does not conform to the goal of social security. Therefore, the government should not raise the retirement age.

  5. Lee Jiwoo permalink
    June 10, 2020 3:18 pm

    Government should raise the retirement age to reduce the amount paid out in pensions unless it will be too much burden on the young who eventually be the ones mainly paying for the pensions. In wealthier countries, life expectancy is increasing throughout each year whereas the population of young people are decreasing. Single households are especially increasing where people are setting high value on keeping their own life rather than having a family. Many are estimating that in the future young population would steadily decrease while older population would skyrocket. As a result, while there might be so many elderly population to support in the future, the young population would not be enough. Besides, most of the portion of the pensions are paid through tax. In other words, young population would have too much burden on paying such.

  6. Kim Jiwon permalink
    June 10, 2020 3:39 pm

    Governments should not raise the retirement age to reduce the amount paid out in pensions. Raising retirement age indicates that the elderly population will be remaining their position at workplace and it means that the companies don’t need to hire new employees. Thus there would be higher risk of being unemployed for younger generation. It is true that Korea’s relative poverty rate over 65 years of age ranks first among OECD countries, so they need jobs even after retirement to support themselves. However, at present when youth unemployment is very high, maintain older people’s position is likely to exacerbate the problem. So instead of raising the retirement age, government should come up with the alternatives such as establishing flexible labour market or introducing a reduced salary work share program.

  7. hashinyoung permalink
    June 10, 2020 3:49 pm

    The government should not raise the retirement age to reduce the amount paid by pensions.When the government raises the retirement age to reduce pension payments, youth jobs are the first to be reduced. If the retirement age increases and there are many people who do not retire, there will be a shortage of new jobs. It is even more difficult to extend the retirement age as unemployment is at its worst every year. But some in favor of raising the retirement age will point to the issue of aging. Korea is a country with a very fast aging population around the world and will face an “ultra-aged society” with an elderly population of more than 20 percent in 2025. But I think raising the retirement age is a temporary way, not a permanent way. It would be better to extend employment than to increase the retirement age, and it would be more effective to protect the elderly by creating policies such as the anti-age discrimination law.

    • hashinyoung permalink
      June 10, 2020 3:52 pm

      corrected version
      The government should not raise the retirement age to reduce the amount paid by pensions. When the government raises the retirement age to reduce pension payments, youth jobs are the first to be reduced. If the retirement age increases and there are many people who do not retire, there will be a shortage of new jobs. It is even more difficult to extend the retirement age as unemployment is at its worst every year. But some in favor of raising the retirement age will point to the issue of aging. Korea is a country with a very fast-aging population around the world and will face an “ultra-aged society” with an elderly population of more than 20 percent in 2025. But I think raising the retirement age is a temporary way, not a permanent way. It would be better to extend employment than to increase the retirement age, and it would be more effective to protect the elderly by creating policies such as the anti-age discrimination law.

  8. Kim Jeong Yoon permalink
    June 10, 2020 4:11 pm

    The government should raise the retirement age to reduce the amount paid out in pensions. In Korea, the number of people below the age of 50 is decreasing, and the number of people over the age of 50 is increasing. This means the working population is declining and the number of retirees is rapidly increasing. The retired people’s pension is provided by the young working population, so the growing number of retirees is a huge burden on the working population which is small in number. If the retirement age increases in these circumstances, it is expected to have a positive impact on society. Older people can ease the burden of young workers by making money on their own. In addition, pension contributions would also be postponed, greatly lowering the government’s financial burden of caring for elderly people. As a result of these benefits, certain nations such as the United Kingdom and Germany have already increased their retirement age. Therefore, the government should raise the retirement age.

  9. Kim minseo permalink
    June 10, 2020 7:12 pm

    I agree with the opinion that the governments should raise the retirement age to reduce the amount paid out in pensions. Provided that the retirement age is extended, it is possible to work stably until old age in an aging society. Not only Korea but also many countries are becoming an aging society. In contrast, the birth rate is getting lower and the labor supply is naturally decreasing. To make up for it, the governments need a large number of elderly people with extended life expectancy. That could increase domestic consumption, which could have been depressed, and give the aged population stability in their lives. Another reason is that the company can get more support from competent people. They know a lot of information about the field because they have worked for a company for a long time and they know for sure how the company operates. Therefore, older people have the ability to highlight the company’s strengths, and they can help the company’s team members a lot.

  10. Jo Aran permalink
    June 10, 2020 9:04 pm

    Government should raise the retirement age to reduce the amount paid out in pensions. This is because more people use the pension than those who fill it. In other words, there are more people who are about to retire or have already retired than those who have just begun to make money in society. Furthermore, the purpose of the pension is to ensure the minimum cost of living, even if they work less in their old age, and many people work even after retirement. The reason they work after retirement is not because they don’t have money, but because they are not only healthy enough to continue working, but also veterans in their own fields. The company needs such a veteran, and there’s no need to quit the job if they can do. Therefore, because the retirement age was delayed as life expectancy extended, the amount of money spent on pensions should also be reduced.

  11. Baek Sowoon permalink
    June 11, 2020 12:22 am

    I think the government should raise the retirement age. As the medical technology develops and life expectancy increases, changes in the standard to be called an elderly and the timing of retirement should be considered. I also think that the extension of the retirement age would affect the suicide rate of the elderly population. The ageing process in society brings about variety of impacts such as increased number of old people living by themselves or economical worries. As life expectancy and the movement of young generation due to job search increases, the number of elderly people living alone also rises. Some who are unable to look after themselves could be expected to have a higher probability to suffer hardships on taking care of oneself or possibility of falling into depression. If the retirement period is delayed, opportunities to engage in social activities and interact with others will increase, and chance to be recognized for one’s ability and to feel self-efficacy would also be extended. In addition, if the burden of pension payments is reduced, the costs will be able to be used for the development of other areas. For instance, it could be used for improvement in the quality of education for the younger generation and illiterate population or computer education for the elderly generation. It could also reduce the economic blow and burden on the younger generation due to the decrease in the number of people working and paying taxes.

  12. Lee Yewon permalink
    June 11, 2020 12:28 am

    It is my view that governments should not raise the retirement age to reduce the amount paid out in pensions. One of the biggest social problems today is youth unemployment. Nowadays, many young people who graduate from college tend to suffer from poverty because they cannot find jobs, which is because employment has continued to decline as machines replace much of human work by the advance in technology. Nevertheless, provided that retirement age increase and fewer people retire, young people will have fewer and fewer opportunities to get their occupation. That would cause the young to experience poverty or even depression because they could not find works, and society will be more an aging society. Furthermore, for those with a job that requires hard work, such as manual laborers, it will be difficult to continue their work until the old age, and if they continue to these works until their old age to save money, it is highly possible they will have health problems. For these reasons, I disagree with the extension of the retirement age.

  13. Chae YoonJi permalink
    June 11, 2020 12:39 am

    Government should not raise retirement age to reduce the amount of paid out in pension. If government raise retirement age, the amount of job for young generation will be more decreased. It can lead society to slow development rate and be increased depression. In other word, this policy may sacrifice future for present. I agree with the reason that low retirement age compared to life expectancy will extend to much burden to government and young generation. But surface method like this without any solution for youth unemployment means laying another burden like tax reduction because of unemployment and welfare for youth to government. Most reason that claims raising retirement age is assurance for income during their rest life. This problem can solve in other ways, making jobs like silver delivery. Namely it is important to guarantee reemployment opportunity for the elderly, treating the elderly as people who can give an advice with a lot of experience.

  14. Gu NaEun permalink
    June 11, 2020 1:36 am

    I don’t think the government should raise the retirement age to reduce the amount of pensions. Raising the retirement age and reducing the number of people receiving pensions seems to work in the short term. But, In the long term, simply raising the retirement age is not the solution. There are two reasons for this argument.
    First, if we raise our retirement age, those who are not old enough to receive the pension will work until they are old enough to retire because they have no sources of income. That may reduce the chances for young people to work. If the elderly retire and jobs are vacant, young people can fill the posts and work. If they continue economic activities without retirement, it will be difficult for young people to create new jobs.
    Second, if you look at the situation in Korea as an example, the National Pension Service, which is operated in Korea, is operating in the form of paying a certain amount in advance and being returned when the employee or individual reaches retirement age. The period that young people pay until retirement is about 40 years, and the period that the elderly pay until retirement is about 10 years. It is better not to raise the retirement age because, in the long run, the young man’s working and paying his pension will collect more. For these reasons, I don’t think the government should raise the retirement age to reduce the amount of pensions.

  15. Kong Hyun Ji permalink
    June 11, 2020 5:44 am

    I think the government should make the elderly keep working more years than now. There are two reasons why I think so. First, the elderly’s long lifetime experience maybe society’s property. Provided that one elderly follows an occupation several decades in a professional field, he or she may have an enormous amount of experience. According to the book ‘The End of Old Age’ by Marc E. Agronin, who is the best geriatric psychiatrist in America, he said: “Older people can make wise decisions by living for a long time, with wisdom accumulating based on various experiences, and with less impulse or emotional response.” The elderly’s knowledge often can’t be replaceable than any dictionaries. Second, as average life expectancy increases, on condition that seclusion is around the 60s, the rest of life should be supported. Governments can aid the elderly who have difficulty making a living with pensions, which will cost a lot and can be burdensome to young people. The other way of backing the old can be raising the retirement age. As a result of early retirement age, neglecting the elderly who is in straitened circumstances is the governments’ irresponsible conduct. With these reasons, I totally advocate to raising the retirement age to an appropriate degree.

  16. Sun Yoonhye permalink
    June 11, 2020 10:08 am

    I think government should not raise the retirement age to reduce the amount paid out in pensions. It is true that the number of senior citizens is increasing as people live longer. But increasing the retirement age in line with it will lead to many problems. First of all, according to the Korea Economic Research Institute, if the retirement age of 60 is extended to 65 years old, the cost of additional employment will be enormous. In other words, increasing retirement age increases the burden on companies. It can also threaten jobs for young people. It is very difficult for young people to get jobs at present. However, if the retirement age is increased, young people will not be able to replace the job, making it more difficult for them to get jobs. I think the retirement age should remain the same because these problems can arise.

  17. Kim Seori permalink
    June 11, 2020 10:28 am

    The government should reduce the cost of pensions by raising the retirement age. The current retirement age is set when the average life expectancy is less than now. Thus, the current retirement age standard is to deprive the economic capacity of the elderly who are still able to work. Also, the number of people who are eligible for retirement pensions will only increase, which will result in an increase in the burden of the younger generation who have to pay with taxes. That will increase the possibility that both generations will feel that their quality of life is reduced and that conflicts between generations will intensify. On the other hand, there is also the opposition that prolonged retirement age will not give jobs to the young generation. In response, the government should create a productive society with companies to increase the efficiency of their work by further increasing the number of jobs through division and lessen the burden for the payment in pensions. Therefore, the government should implement policies to raise the retirement age.

  18. Song MyungHo permalink
    June 11, 2020 11:27 am

    The government should raise the retirement age to reduce the amount paid out in pensions. The population in many countries is getting older on average. According to the Statistics Korea(KOSTAT), the average life expectancy of Koreans is 80 years. With the development of medical technology, the number of people over 100 is expected to increase significantly in the near future. However, the retirement age is still only 60. Retirement is not a story of others, but a reality that comes to all parents. If the number of elderly people living without social income increases, both their quality of life and national competitiveness will deteriorate. Some poeple argue that raising the retirement age reduces work opportunities for younger generation. However, the pensions for the elderly put a bigger financial burden on the young people who pay taxes. Older people do have a lot of experience, and if they can, local governments and companies canemploy them as advisers is one of the ways. The state must raise the retirement age to give older people more opportunities to work and earn more money.

  19. Kim Nam Hun permalink
    June 11, 2020 12:05 pm

    Governments should not raise the retirement age to reduce the amount paid out in pensions. Even if the retirement age of 60 becomes mandatory, there will be a limited number of people who can benefit from the law. With elderly workers receiving excessive wages compared to productivity as they are now, the extension of the retirement age is a big burden on companies, so companies that can abide by the law will be limited to public institutions or large companies. And also, there can also be major problems with human resources and technology development for the enterprise. Another reason is that there may be intergenerational job competition and conflicts. There is a serious problem of youth unemployment in modern Korean society. Therefore, it may be undesirable and premature to only extend the retirement age without a solution to this youth unemployment problem. If the retirement age is extended by force, companies may face side effects such as the burden of hiring elderly workers and the reduction of new employment.

  20. Lee Hwi permalink
    June 11, 2020 1:25 pm

    I agree with the opinion that the government should extend the retirement age. This is because it is helpful not only for the elderly but also for the relatively young people. Due to the development of medical technology and healthy lifestyles, the life expectancy of people is increasing. In comparison, social assessments have emerged that the age of retirement is too early. So the government is offering pensions to retired people so that they can lead a stable life, most of which are covered by taxes from young people. In other words, if the retirement age is not increased, young people will eventually be responsible for the rest of the lives of the elderly. More sadly, most countries have an aging society going fast. On the contrary, the birth rate is falling, which means there will be a limit for young people to pay the pension for the elderly. That is why the government should extend the retirement age to help senior citizens prepare for their own lives economically. This will be an option that can benefit all members of society.

  21. Kim Soeun permalink
    June 11, 2020 1:29 pm

    Advocates of the raise of the retirement age puts the increased lifespans as their main argument. They argue that individuals nowadays live longer and healthier lives, therefore people are capable of handling the delay of pensions. However, this would only make sense if the life expectancy have increased evenly throughout all income groups. Numerous studies have proved that workers receiving low wages tend to have shorter life spans and compared to the high-income group, they tend to show minimal or even no improvement in their overall life expectancy, which makes it unfair for people earning low salaries to benefit from the raised retirement age. As time progresses, this gap increases, and as people’s wealth acts as a main determinant for one’s quality of life and health, the delay will strictly target those who are in need for the pensions, which would be the low-income group. The key goal of pensions is to ensure a minimum lifetime wage for all so everyone can enjoy an even standard of living in their late elderly lives. Since not all workers benefit from the improved lifespans, it would be unfair to raise the retirement age and force specific groups to work longer years to qualify for the pension.

  22. Nam Min Joo permalink
    June 11, 2020 1:31 pm

    Governments should not raise the retirement age to reduce the amount paid out in pensions. I don’t know if there will be a momentary reduction in the cost of pensions, but it is right not to raise the age when comparing the social costs and economic benefits that result from it. If the elderly retain their jobs for a long time, employees in the company will not change easily and will become entrenched, making it difficult to adapt to changes. Businesses should create new ideas while preparing for the number of different cases. However, if they are not familiar with the changes, they cannot have greater economic benefits because they rely on their work so far. Of course, the retirement age can be raised due to other reasons such as reduced jobs for senior citizens, but I think raising the age to reduce the cost of pensions is not an effective measure.

  23. Kimjeongmun permalink
    June 11, 2020 1:41 pm

    Government should raise the retirement age to reduce the amount paid out in pensions. As our society is becoming an aging society, people’s marriage is being delayed, and the period of raising children is even further delayed, Therefore, 50 years old is no longer considered as an old age who can not be productive. This refers to the facts that the total population of the country decreases and the proportion of people over the age of 50 or 60 is growing. In this social atmosphere, it is natural for the government to impose a huge burden on the elderly. Furthermore, also in the social aspects, it is much more beneficial and effective to increase the retirement age that can create a foundation for them to do productive work than to convert so many people into pension money. Someone might say that when we raise the retirement age, then it exacerbates the job problem for young people. However, aged people doing productive work encourage them to make better ability to support themselves, so that this must lower the financial burden of young generation to support elderly. As our society is changing out of its old structure, it is positive to increase the retirement age if we look ahead to a society that will become more aged in the future.

  24. Kim Hae Rin permalink
    June 11, 2020 8:07 pm

    The average life span has been extended by advances in medical technology. People in their 60s who are able to work on retirement are suffering from a lack of a certain income. A pension is paid to guarantee their lives, and the cost of life expectancy is increasing. If the age of retirement is raised, people in their 60s can earn money on their own, thereby reducing the money needed for pensions. Also, the production population is decreasing and the retirement age should be extended in line with the trend as the standard for senior citizens is being raised.

    • Kim Hae Rin permalink
      June 11, 2020 8:09 pm

      For these reasons, government should raise the retirement.

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