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AIG Boss: Get Ready to Retire at 80

Robert Benmosche makes gloomy comment in response to EU debt crisis

By Matt Cantor,  Newser Staff

Posted Jun 4, 2012 12:36 PM CDT

(Newser) – Europe's debt crisis proves the need for governments around the globe to take big steps to get their economies back on track—and that may mean their citizens working for an extra decade ... or two. AIG's chief executive expects the retirement age to ultimately jump to "70, 80 years old," Robert Benmosche tells Bloomberg. "That would make pensions, medical services more affordable. They will keep people working longer and will take that burden off of the youth." To wit, the life expectancy in Greece is 81.3 years but the effective retirement age is just 59.6. Its people "have to see there is no easy way out of this," he adds.

Robert Benmosche, president and CEO of American International Group (AIG).
Robert Benmosche, president and CEO of American International Group (AIG).   (Getty Images)
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COMMENTS
Showing 3 of 21 comments
T-MAN
Jun 5, 2012 4:58 AM CDT
AIG,Wall St.,Big Banks need everyone to work more years to pay off their pathetic ass. Scum bags
Bundy714
Jun 5, 2012 12:06 AM CDT
Telling someone he has to work till 80 is one thing, finding someone to hire you when you are over 60 is quite another thing.  Where are the jobs for the septuagenarians going to come from? There are only so many Walmart greeter jobs to be had.
trailmix
Jun 4, 2012 10:39 PM CDT
Bullshit,  Retirement should be lower not higher The United States Highway System was funded with money borrowed from Social Security. That money needs to be paid back. Also Industries that have prospered so greatly from the U.S. Highway project should pony up some cash off the top, before taxes and make Social Security a solid program with enough funding to increase benefits providing our seniors with actual buying power.  The reality is that the United States Government invested Social Security money and built a very successful highway system and because of that, major Industries such as the - Oil, Auto, tire, Auto Insurance, and many others. all became huge Corporations, and that's a great thing. But Now it's time for these great Corporations to do the right thing, Social Security deserves to get a return on that investment, and get  the principle paid back. This can happen, and it should.

 
retirement • AIG • recession depression • Robert Benmosche • European Union debt crisis

 
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