"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,"
Later Retirement by Babyboomers to Ease Economic Pain of Population Aging
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.
