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Americans see dream of retirement fading
By: Philip Delves Broughton
The Telegraph, February 27, 2001
VISIONS of early retirement are vanishing in America,
where the age at which people stop working has risen for the first time
since the Fifties.
A half-century trend of more and more people retiring before they are 65
has been reversed in the past five years, according to government data.
Many Americans fear that with life expectancy increasing, a retirement
fund raided too early will run out before they die. Others enjoy work
enough not to want to give it up.
A ban on mandatory retirement ages and a tight labour market are further
reasons for the rising retirement age.
The percentage of people over 65 still at work has risen to 12.8 per cent,
the highest since 1979. In 1950, more than a quarter of 65-year-olds were
still working.
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