Population ageing raises questions about the sustainability of the public pillars of the retirement income system and about inter-generational equity. In response to this, a number of countries have raised the normal retirement age in an attempt to reduce projected future expenditures on their state pension system. In this context, private savings and later retirement represent the best ways of avoiding a major fall in living standards when retiring. Increased life expectancy at age 65 appears to justify this policy trend. But there are substantial differences in life expectancy and healthy life expectancy between people of different socioeconomic status, and these seem to be widening. There is a danger that in the name of inter-generational equity, we will in fact be moving towards increased social inequality among the pensioners of the future.

Bibliographic Notes

The Policy Brief was written Mathieu-Robert Sauvé.