In some countries, people are forced to retire when they reach a certain age. What are the advantages and disadvantages of this?
Compulsory retirement is common in many countries when members of the workforce reach 65 or 70, and this has both advantages and downsides, as will now be considered.
The main advantage of requiring people to leave their job at a certain age is that it provides opportunities for younger members of staff to join the workforce, often meaning that companies benefit from having lower wages to pay for the new recruits and also having younger, potentially more dynamic employees. This in turn could well give the company the required boost to continue being profitable.
Another advantage is that some older people may choose to keep working more out of habit than enjoyment, and therefore a mandatory retirement may encourage them to enjoy their life more, having the free time to engage in hobbies and interests such as gardening, which they may not have previously had time for up to that point.
Yet there are significant disadvantages in forced retirement. Older staff members often have more experience, and may have no desire to leave their job. Requiring them to leave could mean a skill shortage for the company as well as a feeling of discontent from the employee. Added to that is the rising number of older people and the subsequent drain on resources if they are not working; if there are more elderly people on pensions or other benefits, the increased tax burden falls on the younger generation.
In conclusion, there are both social and economic benefits in allowing older people to remain in employment if so desired, so compulsory retirement would not be recommended.
