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date: 22 August 2019

Abstract and Keywords

This article discusses the transition to retirement and how it might evolve in the future to provide adequate income for workers as well as meeting the demands of employers. Several factors are identified as important for workers' willingness to continue working: economic incentives in pension systems, labour-market legislation, and flexibility. On the demand side, the cost of older workers and employers' attitudes play a crucial role. The article is organized as follows: the first section summarizes labour-force participation among workers approaching retirement in the OECD countries. The next two sections discuss reasons why older workers might be likely to increase their labour supply in the future. The article then looks at the demand side and asks whether employers will hire older workers.

Keywords: economic incentive, pension system, older workers, labour force, OECD countries, labour supply

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