Filed Under:Annuities, Sales Strategies

OECD: Retirement Age Must Be Raised Worldwide

Change must occur in order to ensure public pension stability

Should workers retire later? AP Photo/NASA
Should workers retire later? AP Photo/NASA

The Organisation for Economic Co-operation and Development (OECD), a global forum advocating for sound fiscal policies, recently released a report, Pensions Outlook 2012, that recommends governments raise the retirement age to address increasing longevity and keep national pensions healthy.

According to the Paris-based organization, over the next 50 years, life expectancy at birth is projected to rise by more than seven years in developed countries. In half of OECD countries, the long-term retirement age will be 65, while in 14, it will be between 67 and 69. The group further points out that increases in retirement age ceilings are underway in 28 out of 34 OECD nations. Yet those changes are expected to keep pace with improved life expectancy in only six countries for men and in 10 for women.

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Nichole Morford

Nichole Morford
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