Population ageing: Pension policies alone will not prevent the decline in the relative size of the labour force

a column by Hervé Boulhol and Christian Geppert for VOX: CEPR’s Policy Portal

As we live longer, the associated rise in the old-age dependency ratio puts pressure on pension systems and perhaps our standard of living.

The column argues that, on average in the OECD, stabilising the old-age dependency ratio between 2015 and 2050 requires an increase in retirement age of a stunning 8.4 years. This number far exceeds the projected increase in longevity and increases in retirement age driven by pension reforms alone.

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