By Patrick Anderson
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Additional resources for Ageing and Employment Policies: Sweden (Ageing and Employment Policies)
E. PAYG and pre-funded scheme) can be drawn, in part or in full, at any age from 61 onwards with no upper age limit. Since the system is actuarially neutral, pension entitlements will among other things depend on number of years worked, the size of lifetime earnings and remaining life expectancy at the age of withdrawal. People with low lifetime earnings or with short or no employment record will receive a guaranteed pension. The guaranteed pension is financed with general revenues from the central government budget.
This means that they are less able to switch to a new 36 job or to move from unemployment to employment; thus, they run a greater risk of becoming long-term unemployed. e. 3). For the United Kingdom, this difference is much smaller, because of a higher incidence of long-term unemployment for prime-aged workers and a lower incidence for older workers. The United States stands in total contrast to European countries. 5% for prime-aged workers (these figures are in fact even more striking since older workers refer to the age group 55-64).
In general, employment rates are high for most age groups and only start to decline above the age of 60. In 1970, the labour force participation rate for men was 91% in the age group 55-59 and 80% in the age group 60-64. For women, the corresponding figures were 51% and 37%. In other words, the figures for men were more or less twice as big as for women. By 1990, these gaps had narrowed considerably. Labour force participation rates for men had declined to 87% in the 55-59 age group and to 63% in the 60-64 age group.
Ageing and Employment Policies: Sweden (Ageing and Employment Policies) by Patrick Anderson
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