Business group seeking increase in retirement age to 70

HOLYOKE, Mass. (WWLP) - An influential group of business leaders wants the full future retirement age increased to 70 for Social Security and Medicare.

The Business Roundtable, a group of U.S. CEO’s, is suggesting the plan as a way to control long-term federal spending. The possibility of raising the retirement age has drawn criticism from Democrats and some advocacy groups for senior citizens, however.

At the Holyoke Senior Center on Thursday, people debated the issue. There was widespread difference of opinion how a later retirement would affect their lifestyles.         

Doris Koziol told 22News that she retired well before the age that the business leaders are suggesting; at age 58.

“You don't have the time while your working full time, and working full time occupies you full time,” Koziol said.

Jim Ubertalli, on the other hand, retired at age 73, and says that not everyone is interested in early retirement.

“I think a lot of people enjoy working past 65. I did,” he said.

The plan that the business leaders will propose to Congress wouldn't affect anyone currently age 55 or older.