Trends in Retirement Age in Four Countries, 1965-95.

Abstract

Knowing the average age at retirement for a given population provides important information for administering and analyzing public and private pension programs. A cohort method of measuring the elderlys average age at exit from the labor force for specified periods has been used for the average age at exit from the labor force gives reasonable insight into the age at which older workers retire. Trends are compared in the average age at exit from the labor force in the US Germany Japan and Sweden. In an attempt to understand the potential impact of some salient demographic factors upon the future financial status of the countries public pension systems projections to the year 2030 are presented of the dependency burden and the balance between pension revenues and expenditures. The US Germany Japan and Sweden have all experienced a decline in the average age at which their workers retire and an increase in the duration of treatment. The analysis concludes with a brief description of some ways in which the governments of these four countries are dealing with the past and anticipated increases in the dependency burden caused in part by declines in the age at which people leave the labor force.

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