Retirement ages on the rise to protect pension systems, OECD says

Submitted by pmassetti on Tue, 12/19/2023 - 16:38
Body (14.12.2023) Millions of people globally will have no choice but to work into their seventies to ease increasing pressure on pension systems as life expectancy rates continue to rise, the Organisation for Economic Co-operation and Development has said. OECD countries are moving to increase statutory retirement ages, curb early retirement and offer employees incentives to work longer to boost the sustainability of their pension systems, the Paris-based organisation said in its Pensions at a Glance 2023 report. “Governments have several tools available to further promote the employment and employability of all workers, at first by boosting support for reskilling and upskilling,” OECD secretary-general Mathias Cormann said on Wednesday. “[But] older workers still struggle to keep their skills up to date, have limited access to good-quality jobs and risk having an inadequate old-age pension because of short and unstable working careers.”

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