This post was originally published on this site
The trend of people, on average, living longer, healthier lives has important implications for the U.S. retirement system, including one of the most vital pieces of it: Social Security.
Because of average longevity increases, Social Security funds retirement benefits throughout longer claiming periods—that is, the postretirement period when a person starts drawing their benefits. Since 1940, life expectancy at age 65 has increased by about 6.5 years while the full retirement age, or FRA, when full retirement benefits can be…
