On Fri, 13 May 2005 14:26:11 GMT, "Mike Rapoport"
wrote:

In 1935, life expectancy was 63.

Probably it was a bit higher than that, but your premise is sound.
Ever wonder why the magic figure of 65 as the retirement age?

Because when Germany instituted the first old-age pension in the 19th
century, Otto von Bismark (whose idea it was) asked an economist to
tell him at what age most workers were already dead. The answer: 65.
So you got the old-age pension only if you beat the odds.

Today that would kick in at, what, 77?



-- all the best, Dan Ford

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