At a time when France is debating an extension to the national retirement age, mind RH has sought to assess the impact of this policy lever on the employment rate in the over-55 age bracket. Our comparative study targets 31 European nations and shows that over the past ten years while raising the legal retirement age has increased the number of older workers in the labour market, it has also increased their unemployment rate. Only those countries that have implemented proactive policies to keep them in employment have a relatively high percentage of older workers in employment.
While there are just about as many pension systems in Europe as there are states, the overriding issue that lies ahead for all is how to meet the challenge of demographic change. Virtually every country is defining, or implementing a timetable for reforming their pension systems to ensure their viability, and most of them are aiming for their retirement age to reach around 65 within the next ten years.
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Article authors
Nathalie Tran
Editor-in-Chief Mind HR