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  • Title: [Retirement and the obligations of the future].
    Author: Picot J.
    Journal: J Soc Stat Paris; 1982; 123(4):231-7. PubMed ID: 12265266.
    Abstract:
    Retirement, when funds are transferred to the nonworking elderly regardless of their physical condition, is a modern invention not without problems. The ever earlier withdrawal from the labor force of large numbers of persons, an increasing proportion of whom are in robust health, creates a problem of providing something to do for people who may not have the means of amusing themselves adequately and who do not have many family responsibilities in an age of shrinking families. Another question involves the cost to the working population of maintaining the growing numbers condemned to retirement. French households obtained 32.4% of their financial resources through transfer payments in 1980, up from 25.1% in 1970. Since 1979 the growth of household income has been due completely to transfer payments and not at all to salaries. 42% of transfer payments are pension benefits. Only about 10% of the increase in pensions thus far is due to aging of the population; the 2 major causes are the improvement of pensions and the declining rate of activity that transforms workers into retirees. From 1968-79, the activity rate of those aged 60-64 declined from 63.9% to 43.7% among men and from 35.3% to 23.9% among women. The requirements for supplemental financing of retirement benefits when the full weight of the pension reforms is felt will depend on the behavior of the economy and the ability to absorb more workers, and on the numbers of workers who choose early retirement, which will probably be large. Present tendencies toward an increasing role for transfer payments in household income can only increase, leading to the very difficult question of what the future will hold for the income levels of the active population.
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