EXERCISES FROM PAGE 23

THE AGEING POPULATION 

The number of men and women in the US aged 60 or over still in work has been rising for more than a decade. Economists have given a number of reasons for this trend. First, since 1985 the US economy has been expanding, so there has been an increased demand for labour. At the same time, the cost of some services, such as health care, has been increasing so workers need to earn more money in later life. In addition, changes in social security benefits and rules have had a considerable effect on labour patterns. First, in 1977 and 1983 changes to the Social Security Act raised the full-benefit age from 65 to 67 and introduced other changes that make delaying retirement more attractive. Then, in 1986, the Age Discrimination Act ended compulsory retirement for all workers, allowing them to work later in life. Changes to pension laws have also encouraged workers to stay in employment longer, as this gives them more chance of a larger pension when they retire.