MAINTAINING EMPLOYMENT OF SENIOR WORKERS IN OECD COUNTRIES. RE-CONFIGURATION OF THE MECHANISM

Nina Vishnevskaya ()

Public administration issues, 2021, issue 3, 135-154

Abstract: In the OECD countries, in the context of an aging population, the problem of providing the economy with labour resources is becoming increasingly important. One of the possible ways to solve it is to stimulate the economic activity of older age groups. In OECD countries, over the past two decades, there has been a significant readjustment of the existing mechanism for supporting older workers in the labour market. An increase in the supply of this category of labour is facilitated by the pension reforms aimed at raising the retirement age and restrictions on early pensions. Legislation prohibiting discrimination against workers on the basis of their age is considered as the most important lever for maintaining the employment of this group. Maintaining jobs for older people is often associated with special government support for these age groups. OECD countries have experimented a lot with this direction of policy, but its results were more often negative. The question of how not only to protect the rights of older workers, but also how to make this group more attractive to employers, is becoming more and more urgent. A significant obstacle to the wider involvement of older workers in the employment is the wage-setting model, in which its level is directly related to seniority. The participation of older workers in retraining programs is becoming an urgent need. Changes in wage-formation patterns, as well as greater involvement of older workers in retraining programs, can increase demand for older age groups.

Keywords: labour market; OECD; population aging; older workers; pension system; vocational retraining; labour market policy (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:nos:vgmu00:2021:i:3:p:135-154

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