People, because of debt or insufficient retirement savings as well as the government pushing back the qualifying age for Social Security, are being forced to stay in their careers longer. But, as Bloomberg reports, how long we’re living isn’t getting any longer.
Data released last week suggest Americans’ health is declining and millions of middle-age workers face the prospect of shorter, and less active, retirements than their parents enjoyed.
The U.S. age-adjusted mortality rate—a measure of the number of deaths per year—rose 1.2% from 2014 to 2015, according to the Society of Actuaries. That’s the first year-over-year increase since 2005, and only the second rise greater than 1% since 1980.
At the same time, public policy and career tracks mean millions of U.S. workers are waiting longer to call it quits.
The age at which people can claim their full Social Security benefits is gradually moving up, from 65 for those retiring in 2002 to 67 in 2027. Almost one in three Americans age 65 to 69 is still working, along with almost one in five in their early 70s.
