Older Workers: Countries’ Experiences with Phased Retirement
“Phased retirement” lets you work less than full-time before you fully retire. This can help keep skilled people working longer while easing pressure on national pensions (e.g. Social Security).
The U.S. workforce is aging, but there are few formal phased retirement programs here. We looked at 4 other countries to potentially inform a U.S. strategy.
We found program designs that could work under the unique institutional conditions here. For example, many of the programs were designed to work with traditional pensions, but some included employee-directed retirement plans, which are more common here.
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