The Gerontologist, Vol 34, Issue 6 731-735, Copyright © 1994 by The Gerontological Society of America
"Equivalent retirement ages" and their implications for Social Security and Medicare financing
University of Massachusetts-Boston 02125.
The projected implications of population aging, especially the attendant
costs of income support and health care, are based on a definition of
normal retirement age as age 65, although the retirement age for full
Social Security benefits will be raised gradually to age 67 by the year
2027. Should the retirement age be increased beyond what is now scheduled
in the 1983 law? This article discusses the concept of "equivalent
retirement ages" as a method for determining an appropriate age for normal
retirement, and points out the usefulness and limitations of raising normal
retirement age as a policy instrument.