ABSTRACT
Population ageing is taking place at an accelerated rate across the world. United Nations World Population Prospects predict the world's share of individuals. Developing countries, many of which lack a formal income-security system for old-age, are experiencing the fastest growth in the number of older individuals. The ageing process is especially pronounced in the industrialized countries and regions. Labor force participation at older ages should therefore be a priority for economic policy. The expected rise in the average age of the workforce has raised concerns about the prospects for labor productivity increases. The political economy of retirement in Europe is a complicated one. Another factor that has led women to reduce labor market participation is the lack of access to formal labor markets. Finally, advances in life expectancy and in the number of healthy years means that many individuals reaching retirement age may want in fact to remain economically active.
