Statutory Age at Retirement and Emerging Illnesses

The increase in the statutory age at retirement is perhaps the most common prescription to reduce the financial deficits of social security funds. However, a large share of individuals reaches age 60 suffering ailments that limit partially or totally their capacity to work. The disability for work after age 60 comes from a legacy of insufficient prevention and from emerging illnesses. Individuals reaching age 60 in the next two decades have often histories of obesity, smoking and other conditions that have been common since the 20th century. Additionally, with aging it is found that the prevalence of mental illnesses may grow, while it is not altogether understood the cause or even the correct way to diagnose a condition. Social security policy and administration face the challenge of adopting regulations to face this changing environment. Increasing statutory retirement ages can be damaging to those facing actual restrictions, and it may not be easy to design administrative solutions to improve the adjudication of disability benefits in the absence of knowledge of the changing conditions of the population and its causes.