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June 7, 2010
12:04 PM

CONTACT: Center for Economic and Policy Research (CEPR)

Alan Barber, (202) 293-5380 x 115

Social Security and the Age of Retirement

WASHINGTON - June 7 - A new report released by the Center for Economic and Policy Research (CEPR) shows that the increase in life expectancy in the U.S. over time has had a two-fold effect. For younger workers, increased longevity and higher productivity will permit longer retirements. But the decision to raise the retirement age from 65 to 67 took back much of these gains for a generation of workers.

"For women in particular, the increase in working years means that they will see a length of retirement virtually the same as their parents." said David Rosnick, an economist at CEPR and author of the report.

The study, "Social Security and the Age of Retirement," demonstrates that, historically, life expectancy at birth is not an accurate indicator of how working lives and retirements both have grown over time.

The analysis suggests that a lengthier retirement does not necessitate raising the retirement age or direct cuts in Social Security.

The Center for Economic and Policy Research (CEPR) was established in 1999 to promote democratic debate on the most important economic and social issues that affect people's lives. In order for citizens to effectively exercise their voices in a democracy, they should be informed about the problems and choices that they face. CEPR is committed to presenting issues in an accurate and understandable manner, so that the public is better prepared to choose among the various policy options.


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