L'âge de la retraite : choix politique, économique ou individuel ?

Developed countries are facing demographic changes that are going to unbalance their pay-as-you-go pension schemes. In order to solve this problem, an increase in the retirement age appears as desirable and even necessary, but in numerous countries the old workers? employment rates are dramatically low. This is due both to demand and to labour supply conditions: the compulsory pension schemes parameters affect both the employees? individual choices and the employers? behaviour. If one wants to enhance the seniors? labour market, economic agents ? firms and employees ? must be conduced to work more by the mean of financial incentives. By the way, a pension scheme that would allow a completely free retirement age ? fully determined by the workers ? would not fulfil its commitment if one accepts that the social security role is both to limit income inequalities and to protect the myopic individuals against their lack of foresight. Finding an optimal retirement age appears as a difficult exercise mainly because the economics are mixed with political and individual considerations.