Raising the Age for Social Security – a Bad Idea

Commentary | April 1, 2013 | By Alex Stone | PSARA: The Retiree Advocate

In 1983, the so-called “Reagan Reforms” made some big changes to Social Security including eliminating the survivors benefits for college students, boosting the payroll tax, and raising the retirement age from 65 to 67. As a result, anyone born after 1960 must now wait until age 67 to receive their full Social Security retirement benefits. But now some conservative thought-leaders and wealthy CEOs are again championing lifting the retirement age, this time to 70. Their argument probably sounds familiar to anyone who remembers the 1983 reforms: as people live longer, the retirement age should adjust upward. It sounds reasonable to people who have white collar jobs working in air-conditioned offices – but for millions of working Americans, the reality is much different.

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