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GOP Plan to Raise Retirement Age to 69 Will Cost 257 Million Americans $420K in Benefits for Just 1-Year Fix
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GOP Plan to Raise Retirement Age to 69 Will Cost 257 Million Americans $420K in Benefits for Just 1-Year Fix
A new GOP plan wants people to retire at 69, which could cut big money from future Social Security payments. It may hurt people in tough jobs and doesnt fully fix the problem, so many may need to save more on their own.
On 22 May, the Parliament in Copenhagen was the first EU country to adopt a law that raises the retirement age to 70 years. Whoever was born after 31 December 1970 will be allowed to retire at the earliest at the age of 70. The reason is well known: demographic change, rising life expectancy, the financial burden on pension systems. But what looks like a purely fiscal step is a menetekel. For Germany, for Europe. Because the journey has just beg…
Denmark Raises Retirement Age to 70, Prompting Debate over U.S. Policy Shift
Denmark will raise its public pension retirement age to 70 by 2040, setting the highest retirement threshold in Europe and sparking renewed discussion over whether the United States might pursue a similar path. The change in Denmark, initiated as part of a 2006 reform linking retirement age to life expectancy,...
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