Welfare Systems, Ageing and Work: An OECD Perspective

BNL Quarterly Review, Vol. 53, No. 212, 2000

27 Pages Posted: 13 May 2013

Date Written: March 15, 2000

Abstract

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.

Keywords: J14, H53, I38

JEL Classification: Ageing, Demographics, Older Workers, Pension, Welfare

Suggested Citation

Visco, Ignazio, Welfare Systems, Ageing and Work: An OECD Perspective (March 15, 2000). BNL Quarterly Review, Vol. 53, No. 212, 2000. Available at SSRN: https://ssrn.com/abstract=2264117

Ignazio Visco (Contact Author)

Bank of Italy ( email )

Via Nazionale 91
Rome, 00184
Italy

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