Later Retirement by Babyboomers to Ease Economic Pain of Population Aging
"The trend towards later retirement will significantly reduce, although not entirely offset, the much-discussed negative macro-economic and labour-market effects of population aging,"
By C.D. Howe Institute —— Bio and Archives--March 27, 2012
Canadian News, Opinion | Comments | Back To Full Article
Over the coming two decades people are likely to stay in the workforce much longer - by about five years - according to a report from the C.D. Howe Institute. In "Later Retirement: The Win-Win Solution," author Peter Hicks finds there will be a strong trend towards later retirement by babyboomers as a result of social and economic pressures, without any policy action by government to raise retirement levels. Delaying work-retirement transitions by five years would have large, positive economic and fiscal effects, the author reports, reducing pressures on growth, government finances and pension funding. Other gains in social well-being appear likely, if harder to quantify.
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