Live Longer, Work Longer

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This report helps establish a new agenda for age-friendly employment policies and practices. It sets out the policy challenges presented by rapidly ageing labour forces in OECD countries and draws out the main lessons learned from OECD's series of country reviews on Ageing and Employment policies.  Among other issues, it discusses how to remove work disincentives and increase choice in the work-retirement decision, improve employability of older workers, and change employer attitudes and employment practices.

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Removing Work Disincentives and Increasing Choice in Work-Retirement Decisions

Key messages: Pension reforms can alter the incentives to work and influence workers’ decisions on the timing of retirement. Reform measures include reductions of pension replacement rates, increasing the official and the earliest ages of retirement, and correcting the increments and decrements of pension benefits for early and late retirement. More flexibility in combining work and pensions could also help to increase labour-market participation of older people. Pension reform has been widespread across OECD countries, but a number of difficult issues remain in terms of finding the appropriate balance between, on the one hand, encouraging later retirement and, on the other hand, increasing flexibility in work-retirement choices. These issues include the appropriate design of more actuarially-neutral pension systems and whether countries should go beyond actuarial neutrality and take a more active stance in terms of promoting later retirement. Finally, while pension systems are being reformed, it is essential to ensure that other welfare benefits are not used unjustifiably as paths to early exit from the labour market.

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