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Additional resources for Ageing And Employment Policies Czech Republic: Czech Republic (Private Pensions Series)
In analysing the barriers older workers face to employment, it is apparent that older women face an even tougher challenge and, in this context, the issue of gender merits special consideration. 3. trends Non-employment among older workers: characteristics and While ensuring that older workers remain employed is a major policy requirement, mobilising older individuals (of working age) into jobs, who are either unemployed or inactive, will be of utmost importance. This section examines the characteristics of these individuals and describes recent trends in unemployment, long-term unemployment and labour market inactivity among older workers.
THE CHALLENGE AHEAD – 35 Nonetheless, this highlights the importance of raising participation rates among older workers as a key factor to supporting labour force growth. Of course, the higher participation rates of the current younger generation should improve the labour market participation rates of future generations of older workers. 5 Chapter 2 will review in more detail the labour market situation of older workers and identify potential areas for improvement. The trend towards early retirement These projections also highlight the importance of reversing the trend towards early retirement.
On current trends, the figure would reach nearly 15% of GDP by 2050. This raises the issue of how the rise of pension expenditures can be funded. Over the past few years, the public pension system was in deficit to the tune of around 1% of GDP per year. The system will be in balance in 2004, as the government recently raised the contribution rate to 28% of the wage bill. Looking further ahead, as the share of elderly in the entire population increases, financing the pension system from payroll taxes will become very expensive.
Ageing And Employment Policies Czech Republic: Czech Republic (Private Pensions Series) by Organisation for Economic Co-Operation and Development