TASK 8 Assignment Example | Topics and Well Written Essays - 1000 words

TASK 8 - Assignment Example Firstly it is the case that people are living longer. According to World Bank: World Development Indicators (2010) it is the case that a child born in1960 was likely to live 71.13 years but as of 2008 a child born in that year will likely live to be 79.9 years. What this means is that historically when a person retired at the age of 65 they were likely to only live for an additional 6.13 years whereas now an individual is likely to live 14.9 years. What this means is an additional strain on the public pension fund, moreover it is also the case that according to the CIA World Factbook (2010) the birthrate is currently 12.34 births/1,000 and the death rate is 9.33 deaths/1,000. Although this demonstrates that the population is still growing the gap between births and deaths is shrinking and it is likely that in the future there will be fewer young people to support the ageing workforce. By allowing people to work longer we are able to take some of the tax burden off of younger people a nd free up funds for new capital. Building on this point it may be the case that there are skill shortages I certain sectors and by forcing people (who possess these necessary skills) to retire at a certain age without a suitable replacement it may leave the community as a whole without a necessary service. Many people are required to make absences fro their careers for personal reasons such as long term health problems or several maternity leaves. Building on this point it may be that these people wish to take additional time to expand their working years to achieve some milestones in their career which may not be achievable if there is a forced retirement. Moreover there are several recent immigrants that have immigrated to the country that wish to build a ‘Nest Egg’ in order to have a comfortable retirement age. If it is the case that an individual is forced to retire they may be relegated to a lifetime of poverty. From a civil liberties perspective one