A new issue brief from Boston College's Center for Retirement Research looks at the implications of increasing the age to qualify for Social Security. Promoting Work: Implications of Raising Social Security's early Retirement Age by John A. Turner finds that:
- Raising Social Security's early retirement age of 62 would encourage longer work lives, thereby improving retirement security.
- Trends in health and the physical demands of work make raising the early retirement age feasible.
- Only 10 percent or less would likely be placed at risk by a hike in the early retirement age.
- In examining these points, the brief focuses in particular on economically vulnerable groups -- women and minorities.
For more information and the complete report, visit www.crr.bc.edu.