Work Long - Live Long

Revised 2007

I have always doubted this conclusion for myself at least - I haven't the slightest desire to stop working completely, at any point in my life. I find it a bit depressing when I hear someone say: "Only 17 years until I retire and get my pension...".

The important factor, I suppose, is: Do you enjoy your work - and how much?

I can certainly understand some groups in the UK - for example teachers and nurses - looking forward to retirement; because their jobs do not have the respect attached to them that they have had in the past. And other groups still are respected to some extent, but have massive work loads which are draining - I'm thinking of doctors, for example.

It's Up To You To Enjoy Your Work
It is completely up to the individual to choose a job they find rewarding and satisfying, as well as providing an appropriate wage or salary. Of course it is difficult to change career - but it is not impossible. It only takes a definite decision, in fact, which presupposes a solid commitment - the hard bit! It's a risk, of course; but then life is most rewarding when lived to the full.

Up jump many in the social professions and exclaim: "But my job is a 'calling' - what would all these people I help do if I wasn't there?"

Well, it is not actually necessary to suffer low respect, overwork, high stress or relatively low pay to help lots of people.

There are other ways you can help people which will give you more positive benefits. And these other ways don't involve the risk to your mental and physical health that long term stress, for example, produces.

You Can Give More - If You Feel Fulfilled
After all, if your quality of life - the key issue here - is good; then you are in the best position to use your skills and desires to the maximum to help friends and family. You are also best placed to nurture close relationships and benefit those you meet in life - including those you touch through your chosen calling or career.

Back To Living Longer...
Anyway, that was a bit of a tangent; I really wanted to tell you about the 'excitingly' named "Continuous Mortality Investigation".

This is a UK body whose studies are used by actuaries and insurance folks to assess the risks of insuring people, and determining likely pension benefits.

A study of theirs has confounded conventional assumptions, by finding that the longer people work, the longer they are likely to live. The study shows that people who retired aged 60 are likely to live to age 82; people who retire five years later at 65 are likely to live 6 months longer; but those who work until they are 70 are likely to live to 83 and a half - a full eighteen months longer.

These findings seriously challenge the view that white collar workers who retire are likely to drop dead a few months after their retirement party. Though a widely held view, there is little hard evidence for it.

A Help For A Difficult Government Decision
These new figures will lend justification to - mainly European - governments who would love to introduce a politically dangerous policy; raising retirement age.

This is necessary to help them cope with the 'demographic time bomb', which kicks in over the next 20-30 years. This is where much larger amounts in state pensions will have to be paid, to a growing number of longer living pensioners. The "demographics" part is that, because of the 'baby-boomer' years when birth rates soared, pensioner numbers increased dramatically; then because of the later drop in birth rate, the numbers in work - who pay these pensions out of their current income - will shrink at the same time. Taxes will have to rise dramatically to pay for this at some point in the future.

Japan is going to be in a terrible position in a generation.

The UK still has a significant challenge here - but is better placed than most of the rest of Europe, due to re-aligning of pensions in the 80s, and a more favourable demographic profile.

Anyway, sooner or later governments will have to do something. And the one obvious 'something' to do is - raise the retirement age.

[Next: Education holds the key...]

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