Catherwood LibraryILR School

The Organisation for Economic Co-operation and Development wants workers to be encouraged to retire later in order to offset a number of problems that are leading to a pension crisis. Improved life expectancy burdens combined with a fall in the number of workers for each pensioner are proving to be a challenge for pension systems. Only half of people over 55 in OECD countries are in the workforce now. The OECD points to Scandinavian countries that do not have a pension crisis due largely to increasing labor force participation. Their efforts include encouraging more women back into the workforce through childcare subsidies and family incentives, and giving strong financial incentives to retire later.