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Forbes
3 days ago
- Business
- Forbes
Raising The Retirement Age Also Requires Employment Policy Reform
Last week, Denmark passed legislation to raise its retirement age to 70 in 2040, positioning the country to have the highest statutory pension eligibility worldwide. But Denmark is not alone. Many other countries in Europe and Asia are making similar moves in response to demographic shifts. The OECD projects that by 2060, the average retirement age in the EU will approach 67, with several countries expected to reach age 70 or more. However, pension reform is only a partial solution. Without protections for older workers, systemic ageism will continue to reduce employment opportunities–risking increased unemployment and poverty. Governments are responding to increasing longevity and declining birth rates. This demographic duo produces older populations and shrinks the labor force, pressuring the sustainability of pension systems designed for shorter lives and larger labor pools. The OECD projects that age-related spending could increase by 6.5 percentage points of GDP between 2021 and 2060. Few governments can sustain multi-decade retirements on a mass scale. As it is, many pensions are inadequate to support independent living. In 2022, the EU had nearly 30 working-age people (20 to 64) for every 10 people aged 65 or older. By 2045, the ratio is expected to drop below 20 for every 10. In China, the retirement age is one of the lowest: 60 for men, 55 for white-collar women and 50 for women in factories. Yet, China's National Health Commission projects that the over-60 population will grow from 280 million in 2022 to more than 400 million by 2035. A decade ago, 10 workers supported each retiree. Today, it's only five. By 2050, it may only be two. Even the U.S. has discussed the possibility of increasing the age for full social security benefits from 67 to 70. However, raising the retirement age creates additional economic challenges. For pension reform to be successful, it requires parallel employment policy reform. Pension reforms are needed. But without systems to support continued hiring, development and retention of older workers, economic insecurity for older workers only increases. Older workers face systemic employment barriers. A 2022 study by the National Bureau of Economic Research revealed workplace age discrimination as a leading indicator of financial instability and heightened poverty risk. Once unemployed, older workers struggle to find re-employment for months or years–often without success. Millions lack retirement savings. The Pew Charitable Trusts reports that in the U.S., as many as 56 million private sector workers lack an employer-sponsored retirement plan. One in five people over 50 have no savings at all. Almost 40% worry about meeting basic living costs such as food and housing. For these people, working indefinitely is the only option for financial security. The consequences of extended unemployment include rising homelessness. The 2024 Annual Homelessness Assessment Report to Congress reported that one in every five people experiencing homelessness was aged 55 or older, with more than 104,000 people experiencing homelessness between the ages of 55 and 64. Another 42,150 people were 65 or older. The report noted that 'nearly half of adults aged 55 or older (46%) were experiencing unsheltered homelessness in places not meant for human habitation.' Homelessness becomes a discriminating factor because most employers refuse to hire people who do not have permanent residence. Once homeless, people find it challenging to re-home, leading to a cycle of chronic homelessness. Some countries are already pairing reform with protective policies, usually falling into one or more of the following four categories: 2. Flexible Retirement and Work Arrangements 3. Targeted Support and Training 4. Income Support for Vulnerable Older Workers Denmark, Netherlands, Germany and the U.K. are notable for integrating flexible retirement options, retraining, and robust legal protections as they raise the retirement age. The U.S. has foundational protections for older workers through the Age Discrimination in Employment Act and the Older Workers Benefit Protection Act; however, these laws have limitations, particularly in enforcement and the burden of proof. Despite numerous legislative proposals to strengthen protections (like POWADA), legislation has stalled in committees for years. As a result, age discrimination remains widespread, and older workers—especially those in their 50s and 60s—face significant barriers to employment, increasing the risk of poverty as retirement ages rise. Since the Trump administration has begun slashing government funding, protections for older workers are disappearing. For example, the Senior Community Service Employment Program (SCSEP), the only federal job training program specifically for low-income seniors, is currently facing complete defunding in 2026. The SCSEP specifically provides job training, reskilling and part-time employment opportunities for low-income, unemployed individuals aged 55 and older. A 2025 report ranks U.S. states from best to worst for older workers. Leading the way are Washington, New Hampshire, Alaska, Maryland and Colorado. These states offer strong labor markets, pay transparency, remote work opportunities, and higher median incomes for seniors. They also provide additional protections and workforce development initiatives that help older workers remain employed. The worst states for older workers include Mississippi, Arkansas, Alabama, West Virginia and Kentucky. These states tended to have higher rates of age discrimination at work, the lowest household incomes and few remote workers among older adults–coupled with a poor entrepreneurial environment. 'Increasing retirement ages have become a prevalent measure taken around the world to address the sustainability of pension systems. However, doing so requires a comprehensive approach that considers broader social, economic, labor market, and health-related factors,' according to a 2024 report from the International Labour Organization. Smart countries are investing in a longevity-centric policy. Instead of viewing ageing populations as an economic threat, they recognize a willing and untapped talent pool. Leveraging older workers is always a smart move, but it is essential in a shrinking labor market. Raising the retirement age may be a necessary step. But without additional employment protections, pathways and purpose, it risks leaving millions behind. In an age of longevity, ageing populations are not a threat to prosperity—they're a key to unlocking it.
The Guardian
19-05-2025
- Health
- The Guardian
UK ‘the sick person of the wealthy world' amid increase in deaths from drugs and violence
The UK is becoming 'the sick person of the wealthy world' because of the growing number of people dying from drugs, suicide and violence, research has found. Death rates among under-50s in the UK have got worse in recent years compared with many other rich countries, an international study shows. While mortality from cancer and heart disease has decreased, the number of deaths from injuries, accidents and poisonings has gone up, and got much worse for use of illicit drugs. The trends mean Britain is increasingly out of step with other well-off nations, most of which have had improvements in the numbers of people dying from such causes. The increase in drug-related deaths has been so dramatic that the rate of them occuring in the UK was three times higher in 2019 – among both sexes – than the median of 21 other countries studied. The findings are contained in a report by the Health Foundation thinktank, based on an in-depth study of health and death patterns in the 22 nations by academics at the London School of Hygiene and Tropical Medicine (LSHTM). 'The UK's health is fraying,' they concluded. The UK's rising mortality is especially evident among people of working age, aged 25 to 49. Deaths among women that age rose by 46% and among men by 31%, between 1990 and 2023. In contrast, mortality has fallen in 19 of the 21 other countries studied, with only the US and Canada showing the same rise as the UK. Britain now has the fourth highest overall female mortality and sixth highest overall male mortality rate among the 22 nations. The US topped both league tables. Jennifer Dixon, the Health Foundation's chief executive, said: 'This report is a health check we can't afford to ignore – and the diagnosis is grim. 'The UK is becoming the sick person of the wealthy world, especially for people of working age. While other nations moved forward, we stalled – and in some areas slipped badly behind.' Dixon pointed out the improvement in UK death rates since 1990 slowed significantly during the 2010s, with the austerity policies pursued by the coalition government after 2010 a significant factor. Smoking, alcohol misuse and bad diet also help explain Britain's increasingly sick population. By 2023, women in the UK had a 14% higher death rate than the median in the other countries, while among men of all ages it was 9%. Prof David Leon, who led the research at LSHTM, said: 'What is particularly disturbing about our findings is that the risk of dying among adults in the prime of life – those who have not yet got to the age of 50 – has been increasing in the UK for over a decade, while in most other countries it has declined. Sign up to First Edition Our morning email breaks down the key stories of the day, telling you what's happening and why it matters after newsletter promotion 'This is shocking as most mortality between the ages of 25 and 49 years is in principle avoidable.' Office for National Statistics figures show that 5,448 people died as a result of drug poisoning in England and Wales in 2023 – 11% up on the year before and the highest figure since records began in 1993. The rate of such deaths in 2023 – 93 per million population – was double the 43.5 per 100,000 that occurred as recently as 2012, which underlines the sharp increase in drug mortality. Mortality due to suicide has also risen but alcohol-related deaths plateaued for women and fell for men between 2009 and 2019, the thinktank found. The Local Government Association and WithYou, a drugs charity, called for the government to make it easier for drug users, people close to them and health professionals to access and use naloxone, an emergency antidote to overdoses involving heroin, methadone and other drugs. Robin Pollard, WithYou's head of policy and influencing, said: 'We also know getting people into structured treatment is critical to reduce the numbers of drug deaths, and so we continue to call for easier access to higher-quality opiate substitution treatment.' A Department of Health and Social Care spokesperson said: 'Every death from the misuse of drugs is a tragedy. This government is committed to reducing drug-related deaths and supporting more people into recovery to live healthier, longer lives. We remain on high alert to emerging drug threats, including from synthetic opioids.' In the UK and Ireland, Samaritans can be contacted on freephone 116 123, or email jo@ or jo@ In the US, you can call or text the National Suicide Prevention Lifeline on 988, chat on or text HOME to 741741 to connect with a crisis counselor. In Australia, the crisis support service Lifeline is 13 11 14. Other international helplines can be found at
