Welfare systems, ageing and work: an OECD perspective
This paper examines the scale of the demographic problem facing OECD economies and the labour market trends among older workers, considering the macroeconomic implications of welfare provision for ageing on living standards and fiscal balances. The nature and the scale of incentives for early retirement are then discussed, concluding that welfare systems in OECD countries will come under increasing pressure as the share of public pension payments on total welfare outlays could rise dramatically over the coming decades. The paper illustrates some of the recent OECD recommendations for responding to the challenges posed by ageing societies in the context of diverse social welfare systems and concludes that policies are urgently needed in a number of countries to pursue two fundamental objectives: increasing the average number of years individuals spend active in the labour force and raising the sources of provision for an adequate retirement income.
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- Ketil Hviding & Marcel Mérette, 1998. "Macroeconomic Effects of Pension Reforms in The Context of Ageing Populations: Overlapping Generations Model Simulations for Seven OECD Countries," OECD Economics Department Working Papers 201, OECD Publishing.
- Sheetal K. Chand & Albert Jaeger, 1996. "Aging Populations and Public Pension Schemes," IMF Occasional Papers 147, International Monetary Fund.