November 2024
22Nov

Universalizing the Access to Long-Term Care: Evidence from Spain

By Joan Costa-i-Font, Sergi Jiménez-Martín, Cristina Vilaplana Prieto & Analía Viola Spain together with Scotland are two countries that exhibit the largest expansions in long term care (LTC) in the last two decades, universalizing subsidies and supports. This paper is part of a global effort to provide a snapshot of the trends in LTC use and access, as well as the financing, and organization of the LTC system compared to other higher-income countries. The passage of Act 39/2006 on the Promotion of Personal Autonomy...

November 22, 2024
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20Nov

Healthy New Town: Revitalizing neighborhoods in the wake of aging populations

Planned suburban residential neighborhoods in metropolitan areas known as new towns were initially developed in England. The new town movement spread from Europe to East Asia, such as to Japan, South Korea, Hong Kong, and Singapore. In Japan alone, 2,903 New Towns were built, but many experienced rapid population decline and aging in the 40 years after their development. Therefore, they changed into old new towns and had to transform their facilities. Dr. Haruka Kato, a junior associate professor at...

November 20, 2024
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20Nov

‘Golden Girls’ no more: How America’s concept of old age became outdated

The idea of retirement is losing its luster The stereotype of retirement as a time to play golf, travel and relax is a relatively new concept in American history. But by now, even that idea is outdated as more older adults work longer and grapple with the need for purpose in their older years. Also, with people living longer and healthier, there may be several chapters in their lives to pursue different jobs, vocations and hobbies. In the new book, "Golden...

November 20, 2024
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15Nov

Rethinking Pension Reform

By Giulia Giupponi & Arthur Seibold Population ageing is exerting unprecedented fiscal pressure on social security systems around the world. In response, many governments are implementing or planning pension reforms, often aimed at encouraging later retirement. A long-standing literature in public economics and labour economics investigates how the design of pension systems affects individual labour supply and retirement choices. In recent years, this literature has seen a revival, with a wave of new studies from Europe and the US combining high-quality...

November 15, 2024
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15Nov

Lessons on strengthening pensions and social insurance for sustainable development

By Gustavo Demarco, Gonzalo Reyes, Diego Wachs & Aaron Buchsbaum In today's rapidly evolving world, robust pension systems and social insurance programs are vital for ensuring economic stability, financial inclusion, and the well-being of citizens, particularly in the face of aging populations. Understanding the multifaceted benefits of these systems, as well as the challenges in implementing sustainable pension systems, is crucial for informed policymaking. The World Bank is responding by revitalizing its in-depth training courses for government officials. In a recent course, experts...

November 15, 2024
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14Nov

China’s economy adapts to serve older people

One person's aging is another's opportunity. In China, companies and services are adapting to serve what demographers call the silver economy - hundreds of millions of people over the age of 60. NPR's Emily Feng has this report. (SOUNDBITE OF MUSIC) EMILY FENG, BYLINE: This is a drumming club in southwestern China for people over 65 years of age only. They've occupied a large warehouse base and filled it with rows of drums and disco lights. ZHU NANFEI: (Speaking Mandarin). FENG: Zhu Nanfei,...

November 14, 2024
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13Nov

Brazil’s aging population poses challenges, economists warn

By Marsílea Gombata Brazil is set to experience rapid demographic changes within the next 20 years, which could slow economic growth and increase expenditures on healthcare and pensions. However, these shifts are not being adequately considered in government decision-making, according to economists from the Fundação Getulio Vargas’s Brazilian Institute of Economics (Ibre-FGV). They caution that, from a budgetary standpoint, the government should exercise greater caution with projected spending in areas like education, given the anticipated decline in the population aged...

November 13, 2024
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08Nov

Real-World Shocks and Retirement System Resiliency

By Olivia S. Mitchell, John Sabelhaus & Stephen P. Utkus Growing awareness of real-world shocks including market downturns, health surprises, and labor market readjustment is calling into question the ability of global retirement systems to remain healthy and sustain future retirees. Financial and labor market stresses are shaping how older workers fare as they head into retirement, and how younger workers must prepare financially for their futures. These shocks come on top of long-standing concerns surrounding rising longevity, along with...

November 8, 2024
Books, Books, Reports, System Characterization, , , , , ,
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08Nov

Pensions in Aging Asia and the Pacific: Policy Insights and Priorities

By Rafal Chomik, Philip O’Keefe & John Piggott Asia and the Pacific has the most diverse regional pension landscape globally. Yet the region’s pension systems are facing common challenges as they attempt to expand coverage, and ensure adequacy and fairness, while maintaining fiscal sustainability. We review the structures and performance of pension systems across Asia and the Pacific. Most remain characterized by low contributory coverage, social pensions with inadequate benefits and often low (or no) coverage, and informal sector schemes...

November 8, 2024
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08Nov

Forever young: where older workers keep on working

By Steven G. Allen & Ting Wang This paper examines inter-industry patterns of the employment of older workers over the last 20 years to understand where employment opportunities have grown the most. The underlying premise is that firms strategically align their age mix depending on production function and labor cost parameters. The industries that had the largest increases in the percentage of older workers were those that had the broadest pension coverage and those that made the greatest use of high-tech capital. There...

November 8, 2024
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