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Workforce ageing and public policy
Sol Encel
Social Policy Research Centre
Contact Email: s.encel
unsw.edu.au
In recent years, against a background of population ageing, concerns about rising pension costs, and declining participation rates, governments and private corporations have begun to explore options for extending the working lives of older people. The Prime Minister, John Howard, voiced his concern in a speech in November 2002 in which he deplored the 'cult' of early retirement that leads to an exodus of people aged 55-64 from the labour force.
In reality, early exit from the labour force is due at least as much to retrenchments, redundancies and downsizing as it is to 'retirement' in any conventional sense. Nevertheless, community attitudes and government policies, especially in relation to superannuation, encourage early exit. Governments throughout the OECD are considering the removal of incentives for early retirement, increasing the age of pension eligibility, and schemes such as phased retirement. Finland, Germany, Japan and the Netherlands have been leading players, and the UK program New Deal-50 Plus is following suit. In Australia, there are small programs at State level but little action, despite much talk, from the Commonwealth.
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Copyright © 2003 Social Policy Research Centre.
