Retirement is an old, overused word. Retirement is no longer relevant in today’s global society. This opinion (mine) is that Bermuda’s economy is just not producing (or keeping on Island)* our skilled young people in numbers anywhere near close enough to replace their elders.

This is not speculation. It is pure math. There are more of us than there are of them younga’ ones. Statistically, the numbers of our Bermuda seniors (65 and over) will grow to 22 per cent of our population by the year 2030, a serious factor impacting our already diminished workforce (and the volume of social benefit contributions from payroll) according to the Sage report and other data.

Age discrimination and too early retirement regulations are also impeding senior’s right to independent choices to remain active in the workplace — were addressed again last September 10, 2014 at the Age Concern AGM by Charles Jeffers, chairman of Community Advocacy and Human Rights Commission chairman Michael Hanson.

So, it was of great interest to see that last week the Finance Minister presented the Public Service Superannuation Fund (PSSF) actuarial report to Parliament that included a number of cost savings — including the option to raise the civil service retirement age to 65. It is not yet a matter of law as this article went to press, so we shall have to wait the outcome.

However, the whole issue of retirement is simply ludicrous in this day and global society. The word and the act retirement should be banished completely from English and every other language. Yes, the individual who wants to retire should be allowed to do so as not everyone wants to keep a job in senior life. Many, many of us seniors, however, want to continue to earn, practise trades, stay fully independent, carry our own weight without assistance, knowing that we are contributing to the life of the economy.

• Why does it seem that current retirement regulations in many countries are applied so unequally?

• Why is it that politicians and heads of states, leaders of countries can represent a constituency almost no matter the age?

• Why is it that the finest legal minds in the world have had career spans extended into their 80s and 90s, such as those amazing persons on the United State Supreme Court like my favourite of course, the tiny powerful lady, Ruth Bader Ginsberg?

• Why are some executives of the largest multinational firms, financial institutions, media, fashion, investment firms are highly regarded (and still working) no matter their age? Well, Warren Buffet, Carl Icahn, George Soros work for themselves — not an employer. But, Janet Yellen does.

Is it because they are more respected?

Is there a double standard for the skilled but ordinary senior?

The prevailing perception of older people. Aren’t you tired of seeing the endless stereotypical portrayals of older individuals in irreverent ads? I am. A woman above 50 appears in dull-coloured, frumpy clothes, cropped hair, no make-up, looking somewhat defeated, implying she cannot take care if herself chatting about how she needs something get her back on track. No wonder she is depressed. She is treated as fading out — into the background of life — while purchasing that product won’t really save her.

Her male counterpart marketing products does not fare much better. He often seems confused, uncomfortable in a product role, ambivalent about where he is in life, trying to be far younger than is, or recovering from some major illness.

Nothing could be farther from the truth. We so seldom see older women or men in marketing products, dressed confidently, depicted as vibrantly successful in their lives, leaders in their community and fully confident in their personal abilities as individuals.

Yet, they are there. They are us — in all walks of life.

You may not think so, but age discrimination becomes age bias which is then embedded within in our minds. It is prevalent. It is perpetrated by the media, using the current perception of older people as being not quite up to the task, not tuned into the modern world, somewhat inflexible, immobile, and irrelevant.

That perception is reinforced with regulations on age of retirement. If we are told enough that we are old, eventually, we all buy in because the law is the law.

Think about it. In our tremendous population trend to longevity (a couple of incredible Bermudians have already survived to the age of 105-109) where is the validity of encouraging (really pushing out) any individual from the workforce at 60-65-70-75 only to have them scrimp, save, then to have to seek Financial Assistance because they will live another 40 years? Where is the common sense thinking that allows a productive employee who boosts revenue for any business to vacate a job - because of a number?

The criteria for any employee, any good employee is whether the individual has the skills, the education, the experience, the physical ability,the maturity, and the tenacity to fulfill the position. That is all that matters.

We are needed, every one of us willing and able to bring this country back to economic self-sufficiency.

The decision to leave the workforce should be a personal (and employer-consulted) one, whether the individual is in civil service, the public, or non-profit sector.

Raising the retirement age is a good start as proposed by our Minister of Finance. But it is not enough. Retirement age boundaries should be completed eliminated. Enforce age discrimination.

It is said that almost all of us in the new era of productivity are more than twenty years younger than our actual physical age. Take the test here. See how young you really are! http://www.realage.com/

Millions of incredibly knowledgable, experienced, wise, intellectually curious, vocal and passionately committed to life and personal causes individuals the world over are watching their stars still arising.

Age is a number, that is all. Readers, I think you know where I stand on this issue.

In a few weeks, we review the civil service pensions versus private pensions.

Martha Harris Myron CPA PFS CFP JSM; Masters of Law, International Tax and Financial Services; Appointed to the Professional Tax Advisory Council, American Citizens Abroad, Geneva, Switzerland; The Pondstraddler* Life™ Consultancy providing cross border financial planning for international tax, immigration, investment, retirement, legacy, and related financial challenges to the lifestyles of internationally mobile individuals and their businesses residing, working, crossing borders, and straddling ponds in the North Atlantic Quadrangle. Specific focus on residents of Bermuda, the premier international finance centre. Contact: martha@pondstraddler.com.