With lifespans increasing, we cannot support that many people entitled to benefits such as that, therefore it is good that more and more people must stay in the workforce and contribute to society. After all who foots the bill for these entitlements, the common people, and if you want to retire, save and invest your own money.
As a person in my 30's, I always thought that you would work hard, save money and retire early enough in life to travel the world and enjoy your time. The harsh reality I found, once I entered the working world, is that life is not like I thought it would be. Job security and company loyalty to employees is not the norm, and the world is a much more expensive place. Savings accounts are lower, cost of living is higher, and retirement seems more and more like a myth these days.
I think more and more people will struggle to retire as time goes on. People's pensions are becoming worth less and less, now that massive stock market price rises are a thing of the past. Pension predictions were based on unrealistic projections. Also with a smaller proportion of the population working, taxes will eventually have to increase, making it even more expensive to retire.
Over the last decade or so, as the economy has slowed down, and corporate profits and government tax revenue have decreased, the retirement funds of the average worker have also taken a hit. There have been multiple cases nationwide of local or state governments who have lost the ability to pay the pensions of their retired workers. Likewise, corporations have become less willing to invest in workers' retirement funds. As these trends continue going forward, the very idea of retirement may become something of a myth, or at the least a luxury afforded by only the richest among us.
With the cost of basically everything rising, it's definitely going to be harder for people to retire in the coming years. Some people today are making low wages for their work and may not have enough money to put away for retirement each pay period. There are plenty of people living paycheck to paycheck and have no retirement accounts in place. For those people, as they stand now, retirement might prove a little rough if they don't have enough savings in place.