Social Security Programs and Retirement around the World

Developed countries during the last two decades have seen a long-term decline in men's labor force participation at older ages, followed by a more recent pattern of sharply rising participation rates. Participation rates for women at older ages have also been rising. What explains the trend reversal for men, the evolving pattern for women, and the differences in these trends across countries? The answers to these questions are pivotal as countries seek solutions to the fiscal and retirement security challenges posed by longer lifespans. In this eighth phase of the International Social Security project, which compares the social security and retirement experiences of twelve developed countries, a team of researcher documents trends in participation and employment, and explore reasons for rising participation rates of older workers. The chapters use a common template for analysis which facilitates comparison of results across countries. Using within-country natural experiments and cross-country comparisons, the researchers study the impact of improving health and education, changes in the occupation mix, the retirement incentives of social security programs, and the emergence of women in the workplace. The findings suggest that social security reforms and other factors such as the movement of women into the labor force have played an important role in labor force participation trends.