Chapter 7 Strategies to Retain Older Workers

Abstract

Abstract This chapter begins by outlining the economic and demographic realities facing employers, and spells out how these change the ‘retirement promise’. The effects of several factors on older workers' retirement patterns are quantified, including early retirement incentives in DB plans, retiree medical coverage, and various work/life benefits including phased retirement and eldercare programs. The potential increase in older workers' labour force participation from changing these benefit offerings are estimated. It is argued that these will only marginally offset expected gaps between labour supply and demand in the coming decade.