If you dare propose raising the retirement age in North America to access your government pension, then you will get the Paul Ryan treatment – during the 2012 election, the Democrats portrayed Ryan pushing an old lady off a cliff.
Yikes!
But it seems other nations are adopting some common sense to protect these retirement schemes.
Earlier this month, Russia announced that the age to receive a state pension would be boosted from 60 to 65 for men by 2028 and from 55 to 63 by 2034 for women.
The measure is aimed at ensuring these funds are still there to pay out.
However, as many critics of the policy point out, nearly half of the Russian population will never live that long. Reportedly, 40 percent of men and 20 percent of women may never access the money they put into the system because life expectancy rates are less than 65.
What’s interesting is that President Vladimir Putin and his Cabinet raised the retirement age as the country focuses on the World Cup.
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