The world’s population is growing older and that has important implications for the workforce for utilities and other sectors. The Ministry of Health, Labour and Welfare has projected that by 2060, about 40% of the population of Japan will be of retirement age. By 2030 over 20% of the Canadian population will be 65 or over.
One out of four middle class Americans say they will need to work until at least age 80 to live comfortably in retirement and 74% of Americans expect to work in their retirement years.
In 2010 France raised the retirement age from 60 to 62. The government of Poland has just announced that it plans to raise the retirement age from 60 (women) and 65 (men) to 67 for all. In Germany the retirement age will rise from the current limit of 65 to 67 gradually from 2012 through 2029. Denmark has decided to increase the statutory retirement age from 65 to 67 between 2024 and 2027. In the UK the statutory retirement age for women is rising from 60 to 65 between 2010 and 2020. There are also plans to increase the statutory retirement age for both sexes to 68 between 2024 and 2046. In Japan and Korea the effective age of retirement is close to 70 for men despite an official retirement age of 60. Yesterday Canada raised the retirement age (eligibility for old age pension) for Canadians from 65 to 67.
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