Unveiling the labour market and social security perspectives of ageing: a systematic review

India is going through a rapid demographic change, with an increasing older population due to rising life expectancy and lower fertility rates. This transformation poses enormous economic concerns, particularly in pension systems, social security, healthcare, and labor market dynamics. By 2050, the proportion of India's population aged 60 and more is predicted to rise from 10% to 20%, putting a pressure on the country's present social assistance system. While the aging population offers issues, it also provides opportunity for change and innovation, particularly in the areas of developing sustainable pension systems, enhancing healthcare for the elderly, and resolving unemployment concerns. This research investigates the economic implications of an aging population in India, with a focus on the effectiveness and sustainability of the country's pension systems, social security mechanisms, healthcare infrastructure, and employment policies. It reviews the current state of India's pension system, which largely excludes informal sector workers, and the strain on social security programs that are ill-equipped to meet the needs of an expanding elderly population. This research offers a set of policy recommendations aimed at expanding pension coverage, improving elder care, and addressing unemployment. The key recommendations include extending pension schemes to informal sector workers, investing in healthcare infrastructure, and creating inclusive labor markets that provide opportunities for both older workers and youth. By adopting these reforms, India can address the economy. Key words: Aging Population, Social Security, Economy, Pension, India, Employment.

The participation of older individuals in the labour market has increased as a result of recent demographic and societal shifts, as well as reforms of pension and social security systems. However, employment inequalities in late working life and labour market exit persist. Early exit from the labour market affects the sustainability of public finances and the availability of skilled labour, as well as the financial, social, mental, and physical well-being of individuals. So far, the literature on employment in late working life and labour market exit has mainly focused on individual choices. However, employment and exit in late working life are complex phenomena that depend on a variety of factors, such as individual life courses and labour market conditions. Based on Swedish register data, this thesis examines inequalities in employment and labour market exit among people aged 55 and over in Sweden, and the role of life course and age-related labour market disadvantages, including studies on: inequalities and diversity between gender and educational groups (Study 1); the relationship between mid-life labour market attachment and patterns of labour market exit (Study 2); age-related disadvantages in unemployment risk and re-employment chances (Study 3); and the link between older workers’ hiring chances and the characteristics and labour market conditions of employers (Study 4). Study 1 shows that employment trajectories, including the receipt of pension, unemployment and disability benefits, are structured by gender and education. While women tend to exit the labour market earlier than men and are more likely to receive disability benefits, men are more likely to move into self-employment or to receive unemployment benefits. Study 2 demonstrates that individuals with low labour market attachment early (at age 30) or late (at age 50-59) in their working careers are more likely to exit the labour market early, while low labour market attachment in mid-career (at age 40-49) is linked with later labour market exit. However, low labour market attachment in all career stages is associated with the receipt of work-related benefits in the year of labour market exit. Study 3 reveals that older workers (in their late 50s and early 60s) are less likely (compared with workers in their early 50s) to be wage-employed after a spell of unemployment, and more likely to become self-employed, to remain unemployed, to exit the labour market, or, if re-employed, to experience downward mobility (lower wage or part-time unemployment). Finally, Study 4 shows that the age and educational composition of employees, combined with the sectoral affiliation of employers and local labour market conditions, are directly related to the likelihood of hiring older workers. That is, older workers are more likely to be hired in establishments with a high share of older and low educated employees, in the health, education, transport and storage sectors, and in municipalities with a high share of older people of working age, a high unemployment rate, and a low share of unfilled vacancies. This thesis makes a unique contribution to the literature on inequalities and age-related disadvantages in late working life, as well as on policies to extend working life and tackle inequalities in old age. The overall conclusion is that the diversity of employment trajectories is socially structured and related to individuals’ employability, workability, and flexibility to change employment or exit from the labour market – structured by individual life courses and labour market conditions. Policies towards equal and prolonged working lives should focus on sustainable working conditions, lifelong learning, and discriminatory practices, not only in late working life but throughout the overall working life course.

Introduction: In response to increasing longevity, many countries are seeking to extend the working lives of their populations. Often, the aim is to increase the employment of older workers. This requires tackling different forms of ageism in the labour market and social security. This article describes how Finland managed this shift which started in the mid-90s when Finland was exiting a deep recession. Older people faced iscrimination, and social security was becoming financially unsustainable in the long run. A holistic reform of public policy was initiated. The root cause for the unsustainability was ageism. The reforms resulted in better inclusion of people over 50 in various forms of employment and lifelong learning.Purpose: In the space of thirty years, Finland has moved from being a country of early retirees to a country of later retirement. This shift required a profound change in the way workers, employers and the whole society perceived employment of older people. We review the major national initiatives and reforms in Finland since 1990s aimed at extending the working careers of older workers. A major guideline was to promote the work ability of older workers and to understand their experience as an asset. The pension reforms that were implemented are also presented briefly. The article compiles analyses of these changes and discusses their impact.Materials and methods: The author examines relevant policy and legislative changes to understand what the Finnish society did. The author carefully describes the most important parts of the reforms and policy initiatives. The author analyses relevant research articles and policy papers to study the impact and the ideological shift of different policy changes. The article is a case study focussing on Finland.Results: The effective retirement age in Finland has steadily increased since the early 90s. Compared to 1993, the employment rate for the 60–65 age group had increased by 44 percentage points in 2023. The change is explained by successful pension reforms, demographic shift and educational effects.

Introduction: In recent years, employees over the age of 50 form one third of the active workforce in the UK labour market, being the fastest growing age group in terms of employment.Objective: To present the challenges related to the active participation of people aged 50+ in the British labour market and the solutions offered by the social security system for this age group.Materials and methods: Review of legislation, government programmes and other initiatives to support people aged 50 and older who are actively involved in working life. Presentation of statistical data on the structure of employment and the share of this age group in the labour market.Results: The situation of people aged 50+ on the British labour market shows dynamic changes. The increased activity of the 50‒64 and 65+ age groups is due to both the aging population and financial factors. The implementation of government programs such as ‘Restart Scheme’ and ‘Universal Credit’contribute to the improvement of the professional activity of those aged 50 and over and employees who are past the retirement age. Nevertheless, further adaptation of labour market and social security policies is necessary due to the importance of income stability and economic security for older people.

In 2001, the OECD launched a review of policies to improve labour market prospects for older workers. The aim of this review is to examine both supply-side and demand-side aspects of this topic. Older workers have been defined as those aged 50 years and over. This report on Japan outlines the demographic challenges, examines the current labour market situation, discusses the impact of Japan’s pension system and other welfare benefits on retirement decisions and work incentives, assesses the main factors that influence employers to hire and retain older workers, and analyses the different ways to provide better access to better jobs for older workers. Among the OECD countries, Japan has one of the oldest populations and already Japan has given priority to developing a range of labour market policy measures to cope with its ageing population. These include: the reform of the Law for the Stabilisation of Employment of Older Workers; reforms to improve the financial sustainability of the National Pension System; measures to improve training opportunities; a new provision in the Employment Measure Law to tackle age discrimination; and not introducing any early retirement programs. However, there is still scope for further action and the following areas are highlighted as requiring further reform: pensions and income-support arrangements; changing employer attitudes and improving job retention; and improving the employability of older workers. Recommendations for reform are also included.

Increasing the availability of skilled labor to small and innovative ventures is imperative if entrepreneurship and innovation are to flourish within the European Union. Building up a qualitatively and quantitatively fitting labor force is always a challenge for new, growing ventures, but Europe’s labor market and social security systems tend to create specific barriers to such growth. By aiming for neutrality and portability in social security systems, we propose reforms that will increase the mobility and flexibility of labor, while maintaining a generous level of social security and labor protection. As competencies in labor markets and social security are concentrated at the member state level, the proposals made in this chapter mainly speak to policymakers at that level. Moreover, our proposals extend the scope of what is traditionally considered entrepreneurship policy.

In many countries, population ageing is challenging the viability of the welfare state and generating higher demands for long-term care. At the same time, increasing participation in the labour force is essential to ensuring the sustainability of the welfare state. To address the latter issue, affected countries have adopted measures to increase employment; e.g. welfare recipients in Germany are required to be available for any type of legal work. However, 7 per cent of welfare benefit recipients in Germany provide long-term care for relatives or friends, and this care-giving may interfere with their job search efforts and decrease their employment opportunities. Our paper provides evidence of the relationship between the care responsibilities and employment chances of welfare recipients in Germany. Our analyses are based on survey data obtained from the panel study ‘Labour Market and Social Security’ and on panel regression methods. The results reveal a negative relationship between intensive care-giving (ten or more hours per week) and employment for male and female welfare recipients. However, employment prospects recover when care duties end and are subsequently no longer lower for carers than for non-carers.

This article contributes to the literature on persistent gender inequalities in the labour market by investigating gender role attitudes in Germany and their association with labour market behaviour. Based on the German Panel Study ‘Labour Market and Social Security’ (PASS), longitudinal analyses are applied to examine the influence of gender role attitudes and the household context on various employment states. The results reveal that gender role attitudes are crucial for labour market behaviour and that there are differences among women and men in different household contexts. Whereas single men and women do not differ significantly in their employment probabilities, women in couple households are less active in the labour market than their male counterparts. Furthermore, differences in employment are largest in couples with children. Among women, differences in full-time employment by household context become smaller when these women hold egalitarian attitudes.

This article gives a survey of the position of migrant workers in the Belgian labor market and social security system. Total employment of migrants has increased from 114,000 in 1954 to 224,900 in 1970.In contrast to overall employment in the Belgian economy, it went on climbing till 1978, up to a 245,900 level. Beyond this year, forecasts point at a slight decrease. Since WWII, the gravity point of the sectoral division of migrant workers has shifted from minig and industry, to industry and tertiary activities. The share of industry in the employment of migrants bas remained relatively stable, in contrast to the tertiary sector, that witnessed a considerable expansion. However, the latter has not contributed substantially to the quality level of the average guest worker's job.On the whole, there is a strong correspondence between the unstable position of migrants in the labor market and their demographic characteristics on one side, their participation in the social security system on the other side. Their young family structure is reflected in a high share in family allowances and a limited appeal to pension funds. Statistical analysis at the aggregate level does not point at discriminatory practices vis-à-vis migrants and their families in social security ; but at thedisaggregate level and through the inspection of laws, regulations and international conventions, it appears that non-EEC nationals, with an unstable professional career, do not have the same rights as Belgians or EEC-citizens having a confortable position in the labor market and the social security system. In order to guarantee the rights of the farmer, the author suggests to establish a citizenship entitling to full social security rights after five years of regular residence in Belgium.

The global process of population aging leads to a number of challenges for socio-economic development in countries and regions. This includes the increased demographic and economic burden on working-age population, as well as changes in the labor market, health care, and social security system. With shifting retirement age, the role of older workers also needs to be reconsidered. The purpose of this article is to analyze the situation of older generations on the Russian labor market. The study uses official statistics, including data from a sample survey on employment and labor force participation and a comprehensive study of living conditions of the population conducted by the Federal State Statistics Service. The paper addresses issues such as employment, unemployment, participation in the workforce, and wages for this population group. It is determined that the growth of the labor supply in Russia is largely ensured by representatives of the older generation. However, employment in old age is, in many ways, a forced measure to improve the standard and quality of life. The study reveals the professional and qualification features of employment for retirement-age population. The issue of vulnerability when involving older people in informal and precarious work is outlined. The paper considers issues related to the participation of older generations in volunteer work and the production of goods for personal use. It has been shown that old age is a risk factor for becoming underpaid, and it also increases the length of the job search process, largely due to prevailing stereotypes about this age group's abilities. It is determined that older people represent a significant resource in the labor market, particularly in terms of increasing the potential workforce. In conclusion, the article underlines the need to support employment for the elderly in order to provide opportunities for self-fulfillment and achieve a prosperous old age.

Although migration has multidimensional effects, it seems to have radical consequences in the social sphere. The movement of people and communities brings together, integrates and transforms people of different languages, races, beliefs and traditions. This two-way process of interaction, which affects and transforms the migrating and receiving communities, gives rise to different forms of society and organization. Since international migration movements affect at least two states, interstate cooperation is an indispensable part of migration management. Especially today, bilateral, regional and global cooperation plays an important role in the management of migration. Nevertheless, there is no agreed global consensus on migration management. The international refugee regime is an exception to this. Globalization and increased labor mobility have made migration processes one of the most important demographic and economic dynamics of the modern world. Migration does not mean only the movement of population; It also has direct effects on social security systems, labor markets and economic growth. In this context, studies on the economic consequences of migration in terms of social security reveal how demographic development affects social welfare and security systems in the long run. Migration is one of the main factors causing significant changes in population structure. As migrant workers are generally concentrated in younger age groups, they contribute to the youth population in countries with aging populations. This situation has a positive effect on demographic development, increases labor supply and plays a balancing role in the financing of social security systems. However, the impact of migration is closely related to the integration policy and economic structure of the host country towards immigrants. Migration processes and demographic development have important economic consequences for social security systems. The integration of immigrants into the social security system is important for the sustainability of both the labor market and the social security system. In order to ensure that social security systems are balanced and sustainable in the long term, the contributions of immigrants and the level of their benefit from social assistance must be carefully managed. Active participation of immigrants in the labor market and participation in the social security system both creates economic opportunities for immigrant-receiving countries and supports the financing of social security systems. Keywords: migration, population, demography, economy, social situation, immigrant, labor, unemployment, integration.

Purpose This study investigates the welfare implications of publicly mandated social security programs in Lebanon, focusing on their impact on employment choices and labor market outcomes. The recent crises in Lebanon have highlighted the urgent need for universal social protection measures that extend coverage beyond formally employed individuals to marginalized and informal workers. By analyzing the role of National Social Security Fund (NSSF) enrollment, this research aims to provide insights into how social security programs influence the labor market, particularly in fostering wage employment over self-employment and addressing disparities in access to social protection. Design/methodology/approach The study employs an empirical approach using Lebanon's latest labor force household survey data (2019). A multinomial logit model evaluates how NSSF enrollment affects employment choices, distinguishing between wage employment, self-employment and other labor market categories. This quantitative analysis examines the relationship between social security coverage, education levels and employment outcomes, providing a comprehensive understanding of the structural barriers different groups face in accessing social protection. The methodology facilitates a robust examination of the interplay between social security participation and labor market dynamics in economic instability. Findings The findings reveal that NSSF enrollment significantly increases the likelihood of workers opting for wage employment over self-employment. Highly educated individuals demonstrate the highest levels of NSSF coverage and are more likely to engage in wage employment. Conversely, self-employed workers face substantial challenges securing social security coverage, which correlates with less favorable labor market outcomes. The study highlights the need for inclusive reforms to expand social security schemes' reach, address coverage gaps for self-employed and informal workers and enhance their socioeconomic welfare. Originality/value This research provides valuable empirical insights into the interplay between social security enrollment and labor market outcomes in Lebanon, a context marked by economic crises and inadequate social protection systems. Focusing on the NSSF's role, the study contributes to the broader discourse on universal social protection and labor market equity in developing economies. Its findings underscore the importance of reforming existing schemes to include marginalized groups, particularly informal and self-employed workers, offering a policy-relevant perspective to promote inclusive economic recovery and social welfare in Lebanon.

This paper builds a small open economy business cycle model with labor and financial market frictions that incorporates frictional, endogenous self-employment entry and a link between formal credit markets, informal credit, and the labor market. The paper then shows that the model is consistent with the cyclical behavior of both labor and credit markets in Latin American economies and analyzes the aggregate consequences of cyclical macroprudential policy for labor market and aggregate dynamics. It is found that a policy that reduces credit fluctuations successfully reduces consumption, investment, and output volatility, but generates substantially higher unemployment fluctuations in response to productivity shocks. Moreover, the policy increases the volatility of all these variables in response to net worth shocks. The link between formal credit markets, input credit between firms, and self-employment plays a key role in explaining the adverse impact of macroprudential policy on unemployment dynamics. The findings point to potential gains from policy complementarities between macroprudential regulation and active labor market interventions over the business cycle.

Macroprudential Policy and Labor Market Dynamics in Latin America

This chapter examines the intersections between the labour market and social security. It describes the changes in the labour market. These include the increased participation of women, the dramatic expansion of casual and part-time work and the rapid growth of unemployment. The chapter discusses how Australian governments in the 1990s have attempted to respond to these changes, for example by means of labour market assistance, changes to social security allowances and the introduction of a national employment-based superannuation scheme. J. Pech and Innes argue that the decline in the participation rate of men 'was not caused by women displacing men in the labour market - the Australian workforce remains one of the most gender-segregated in the world'. It is estimated that the unemployment rate for indigenous Australians is about 26 per cent. The changes to the income test were designed to encourage unemployed people to take up part-time and casual work by reducing the high effective marginal tax rates.