Should there be a specific age for mandatory retirement? If so, why or why not?

Should there be a specific age for mandatory retirement? If so, why or why not?

Introduction

Mandatory retirement is an act which is common in every country where people are forced to retire at an age of 60 or 65 because of the company policies or the national policy of the country. The only reasoning for this act is suggested is that it opens vacancy of growth for people who are below these old age citizens. However, if we critically analyze this policy it is raising grieve concerns for the individual, company and the country (Mauk, 2010).

Discussion

Firstly, when an efficient employee is forced to retire under the mandatory retirement policy it affects the individual in two means; financial dependency and psychological discouragement. When an individual is forced to retire from a job where he is dedicatedly working the person income is stopped and the financial dependency of his or her family increases as he becomes dependent upon the remaining members and in many situations the income of the remaining members is insufficient to support the person. Secondly, when an intelligent and experienced person is forced ion this manner the psychological impact upon the person is that he or she is no more needed by the society and society no more values his thinking, needs, and desire (Maes, 2013).

When a company forces an experienced person to retire it is very difficult to replace him or her with a person of same capability. Although, the system is not affected by the presence or absence of an individual but the overall efficiency of an experienced person cannot be replaced by someone who is new to that job. Although, many companies don't want to retire that individual but because of national policies they ...