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Download or read book The Consequences of Changing the Mandatory Retirement Age Limit written by Richard F. Wertheimer and published by . This book was released on 1979 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Abolishing Mandatory Retirement written by and published by . This book was released on 1981 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effects of Raising the Age Limit for Mandatory Retirement in the Age Discrimination in Employment Act written by and published by . This book was released on 1981 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Relationship Between Mandatory Retirement Age Limits and Pension Rules in the Retirement Decision written by Richard V. Burkhauser and published by . This book was released on 1981 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author: Joseph Han
Publisher:
Published: 2020
Total Pages:
ISBN-13:
DOWNLOAD EBOOKThe phased implementation of the minimum mandatory retirement age (60) from 2016 has expanded the employment of older workers (55-60) but reduced that of young workers (15-29). The negative effect has been particularly pronounced at large companies or firms with a previously low official retirement age. - A difference-in-difference analysis at the establishment level reveals that a 1 person increase in those who could potentially stay owing to the new mandatory retirement age leads to a 0.6 person increase in older workers and a 0.2 person decrease in young workers. - The decline in youth employment was marked at establishments with 100+ employees or those whose retirement age was 55 or below before the statutory change. These results imply that a gradual approach is required to minimize the negative impact of delayed mandatory retirement, and that additional labor market policies are needed particularly for older workers whose employment is not protected. - Increasing the mandatory retirement age is necessary given the rapidly aging population, but the negative impact on employment can only be minimized if it proceeds slowly and in phases. - Employment services tailored to older workers should be provided, particularly for those whose retirement age is not guaranteed, and legal standards need to be improved to facilitate the creation of jobs with flexible hours.
Download or read book The Effects of Delayed Mandatory Retirement on Elderly and Youth Employment written by Joseph Han and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The phased implementation of the minimum mandatory retirement age (60) from 2016 has expanded the employment of older workers (55-60) but reduced that of young workers (15-29). The negative effect has been particularly pronounced at large companies or firms with a previously low official retirement age. - A difference-in-difference analysis at the establishment level reveals that a 1 person increase in those who could potentially stay owing to the new mandatory retirement age leads to a 0.6 person increase in older workers and a 0.2 person decrease in young workers. - The decline in youth employment was marked at establishments with 100+ employees or those whose retirement age was 55 or below before the statutory change. These results imply that a gradual approach is required to minimize the negative impact of delayed mandatory retirement, and that additional labor market policies are needed particularly for older workers whose employment is not protected. - Increasing the mandatory retirement age is necessary given the rapidly aging population, but the negative impact on employment can only be minimized if it proceeds slowly and in phases. - Employment services tailored to older workers should be provided, particularly for those whose retirement age is not guaranteed, and legal standards need to be improved to facilitate the creation of jobs with flexible hours.
Author: National Research Council
Publisher: National Academies Press
Published: 2013-01-10
Total Pages: 230
ISBN-13: 0309261961
DOWNLOAD EBOOKThe United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Download or read book Aging and the Macroeconomy written by National Research Council and published by National Academies Press. This book was released on 2013-01-10 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Author: Anders Frederiksen
Publisher:
Published: 2019
Total Pages:
ISBN-13:
DOWNLOAD EBOOKThe Age Discrimination in Employment Act of 1978 expanded employee age protections to age 70, making the widespread practice by U.S. firms of mandating retirement at age 65 illegal. Building on the work of Lazear (1979), we propose that the law change not only weakened the long-term employment contract, but also contributed to the rise in pay-for-performance incentives. We model the firm's choice between offering long-term incentive contracts with low monitoring requirements and pay-for-performance (PFP) contracts with high monitoring requirements, showing how the law change increased the relative attractiveness of PFP contracts. We test the model's predictions using data from the Baker-Gibbs-Holmstrom firm, evaluating the effect of the law change on the slope of the age-pay profile, turnover rates, and the sensitivity of pay to performance. Further, we find direct evidence of strategic response to the law change by the firm, including the introduction of bonus payments, change in performance management system, and increase in the proportion of top managers. The setting also provides an opportunity to empirically investigate how firms navigate career incentives for employees.
Download or read book Responding to Regulation written by Anders Frederiksen and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Age Discrimination in Employment Act of 1978 expanded employee age protections to age 70, making the widespread practice by U.S. firms of mandating retirement at age 65 illegal. Building on the work of Lazear (1979), we propose that the law change not only weakened the long-term employment contract, but also contributed to the rise in pay-for-performance incentives. We model the firm's choice between offering long-term incentive contracts with low monitoring requirements and pay-for-performance (PFP) contracts with high monitoring requirements, showing how the law change increased the relative attractiveness of PFP contracts. We test the model's predictions using data from the Baker-Gibbs-Holmstrom firm, evaluating the effect of the law change on the slope of the age-pay profile, turnover rates, and the sensitivity of pay to performance. Further, we find direct evidence of strategic response to the law change by the firm, including the introduction of bonus payments, change in performance management system, and increase in the proportion of top managers. The setting also provides an opportunity to empirically investigate how firms navigate career incentives for employees.
Author: National Research Council
Publisher: National Academies Press
Published: 2012-07-31
Total Pages: 486
ISBN-13: 0309254094
DOWNLOAD EBOOKThe population of Asia is growing both larger and older. Demographically the most important continent on the world, Asia's population, currently estimated to be 4.2 billion, is expected to increase to about 5.9 billion by 2050. Rapid declines in fertility, together with rising life expectancy, are altering the age structure of the population so that in 2050, for the first time in history, there will be roughly as many people in Asia over the age of 65 as under the age of 15. It is against this backdrop that the Division of Behavioral and Social Research at the U.S. National Institute on Aging (NIA) asked the National Research Council (NRC), through the Committee on Population, to undertake a project on advancing behavioral and social research on aging in Asia. Aging in Asia: Findings from New and Emerging Data Initiatives is a peer-reviewed collection of papers from China, India, Indonesia, Japan, and Thailand that were presented at two conferences organized in conjunction with the Chinese Academy of Sciences, Indian National Science Academy, Indonesian Academy of Sciences, and Science Council of Japan; the first conference was hosted by the Chinese Academy of Social Sciences in Beijing, and the second conference was hosted by the Indian National Science Academy in New Delhi. The papers in the volume highlight the contributions from new and emerging data initiatives in the region and cover subject areas such as economic growth, labor markets, and consumption; family roles and responsibilities; and labor markets and consumption.
Download or read book Aging in Asia written by National Research Council and published by National Academies Press. This book was released on 2012-07-31 with total page 486 pages. Available in PDF, EPUB and Kindle. Book excerpt: The population of Asia is growing both larger and older. Demographically the most important continent on the world, Asia's population, currently estimated to be 4.2 billion, is expected to increase to about 5.9 billion by 2050. Rapid declines in fertility, together with rising life expectancy, are altering the age structure of the population so that in 2050, for the first time in history, there will be roughly as many people in Asia over the age of 65 as under the age of 15. It is against this backdrop that the Division of Behavioral and Social Research at the U.S. National Institute on Aging (NIA) asked the National Research Council (NRC), through the Committee on Population, to undertake a project on advancing behavioral and social research on aging in Asia. Aging in Asia: Findings from New and Emerging Data Initiatives is a peer-reviewed collection of papers from China, India, Indonesia, Japan, and Thailand that were presented at two conferences organized in conjunction with the Chinese Academy of Sciences, Indian National Science Academy, Indonesian Academy of Sciences, and Science Council of Japan; the first conference was hosted by the Chinese Academy of Social Sciences in Beijing, and the second conference was hosted by the Indian National Science Academy in New Delhi. The papers in the volume highlight the contributions from new and emerging data initiatives in the region and cover subject areas such as economic growth, labor markets, and consumption; family roles and responsibilities; and labor markets and consumption.
Author: Samuel Pienknagura
Publisher: International Monetary Fund
Published: 2021-09-10
Total Pages: 52
ISBN-13: 151359611X
DOWNLOAD EBOOKChile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.
Download or read book Assessing Chile's Pension System: Challenges and Reform Options written by Samuel Pienknagura and published by International Monetary Fund. This book was released on 2021-09-10 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.
Download or read book Abolishing Mandatory Retirement written by and published by . This book was released on 1981 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt:
