Historically, 65 has attained that almost mythical status of being the age at which people retire from the workplace and fade into the realm of retirement to live out the rest of their days in glorious leisure and contemplation. This might have been the case from the 1950s to '70s, when retired people were subject to the ruling mortality of the age and generally dead within 10 to 15 years of retirement. A great deal has changed around the world, and probably more so in South Africa. The spectre of inflation and retrenchment had yet to become the challenge it is today. Why is the idea of retirement not so utopian as it was? 1. Mortality. People in their 60s are likely to have a good 20 to 25 years of active lifestyle ahead of them. They are, by far, more mentally alert and able to continue working than their forefathers. 2. Financial security. Even in the developed world, where the state assumes a reasonable level of financial support, people are approaching this mythical retirement ...
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