ABSTRACT
We are always hearing about the threat posed to pensions by the ageing of the population, and particularly pensions in the first pillar financed by the working age population. The wealth of statistical resources available, particularly from United Nations, International Labour Organization and Organization for Economic Cooperation and Development, make it possible to measure the combined effect of the ageing of the population and of labour market developments. The projections for proportion of GDP devoted to the cost of retirement benefits in this hypothesis are similar to those of the World Bank. With regard to the level of these costs as a proportion of the wage mass, it is predicted that contributions will be more or less at the level required to finance the old-age insurance system. It point to the need to eliminate any negative incentives for employment, at all ages, with a view to encouraging the employment of workers who are approaching, or have passed the retirement age.
