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Aging and Employment Policies – Working Better with Age – OECD – August 2019

16 October, 2019

People today live longer than ever, but what is a blessing to people can be a challenge for societies. If nothing is done to change existing work and retirement patterns, the number of inactive senior citizens who will need the support of active workers could increase by 40% on average in the OECD area between 2018 and 2050. This would slow the rise in living standards, and generate enormous pressure on the younger generations that will finance the social protection systems. Improving the employment prospects of elderly workers will be crucial. It will also be necessary to adopt a life cycle approach to avoid the accumulation of individual disadvantages in professions that discourage or prevent work at a more advanced age. What can countries do to help? How can they give older people better incentives and job opportunities? This report provides a synthesis of the main policy challenges and recommendations, along with a set of international best practices to promote employability, labor demand and incentives to work at a more advanced age.

According to the report, action is required in three areas. First, governments should improve incentives to continue working at more advanced ages by eliminating late retirement penalties and generating more flexible retirement/work options. Second, in cooperation with social actors, job opportunities for older workers should be improved by removing employer disincentives and barriers to retention and hiring of older workers, and promoting good management practices for workplaces with a range of different ages. Finally, the employability of older workers should be reinforced through better working conditions and training opportunities during their working years.

To download this study, please click on this link.

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