Many respondents believe lowering retirement age may open up job opportunities for younger workers and remove older workers from positions of power
SEATTLE, Sept. 11, 2023 /PRNewswire-PRWeb/ -- ResumeBuilder.com, the premier resource for professional resume templates and career advice, has published a recent survey report that examines millennials' and Gen Zers' attitudes toward the current retirement age in the United States. The report also shares insight into fears surrounding the availability of social security funds. This survey generated responses from 702 people between the ages of 18 and 43.
According to the survey, 51 percent of millennials and Gen Zers surveyed say they want to lower the retirement age. Of this group, 59 percent say the retirement age should be adjusted to age 60 or younger. Respondents' main reasons for lowering the retirement age include opening up job opportunities for younger workers and removing older workers from positions of power. Through write-in responses, millennials and Gen Zers also expressed sympathy for older workers, citing how they are unable to spend time with their loved ones or enjoy 'the benefits of their hard-earned money.'
"I'm not surprised that the majority of Gen Zers and millennials support lowering the retirement age," says Julia Toothacre, Resume and Career Strategist at ResumeBuilder.com. "Gen Z and millennials tend to focus more on balance and enjoying life than working.
"I've seen millennial values shift throughout the years from being focused on work and promotions to now being more focused on family and having time to live their lives. With Gen Z, I've seen the need for balance start much earlier, so it makes sense that they would also be in favor of lowering the social security age," Toothacre says.
Despite the sizable number of respondents who are in favor of lowering the retirement age, 41 percent believe it is 'somewhat' or 'very unlikely' that social security funds will still be available for them when they retire. However, two-thirds of respondents say they are still 'somewhat' or 'very much' counting on social security to be available to them. Additionally, 3 in 4 millennials and Gen Zers 'somewhat' or 'strongly agree' that wealthy individuals should not be able to receive social security payments.
This online poll was commissioned by ResumeBuilder.com and conducted on SurveyMonkey Audience starting August 31, 2023. Respondents consist of a national sample that was randomly selected from a United States panel and balanced according to United States census data for age, gender, and region. Overall, 702 respondents between the ages of 18 and 43 completed the survey. To view the complete report, please visit: https://www.resumebuilder.com/30-of-gen-zers-and-millennials-say-retirement-age-should-be-lowered-to-60-or-younger/.
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SOURCE ResumeBuilder.com
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