Ageing and demographic change

Projected population ageing across G20 economies has far-reaching implications for economic growth, productivity, inequality within and between generations and the sustainability of public finances. 

Old-age dependency ratios will rise in all G20 members in the next decades, although at different paces. Japan is experiencing the fastest ageing of its population, with 47 people older than 65 per 100 working-age adults in 2015, up from 19 in 1990, and rising to 80 by 2060. Among advanced G20 countries, Italy, Germany and Korea will also face some of the most significant challenges from ageing. 

Rising old-age dependency ratios will put the financing of adequate pensions, health and long-term care under high pressure.

A comprehensive approach is needed to deal with ageing costs and promote inclusive growth in an era of demographic change. It should be tailored to each country’s institutional and policy settings and social preferences, and may span many areas of public policy:

• improving the design of public pensions,
• incentivising private savings,
• enhancing the efficiency of health care provision,
• expanding the coverage of social security systems,
• promoting employability and skills of older workers, and
• striving for a better labour market inclusion of women, youth and migrants.

Read the full Report, Fiscal challenges and inclusive growth in ageing societies, 67 pages (pdf)

Blog post: Is age just a number? Meeting the economic challenges of a graying world

• Austria Responding to key well-being challenges (2013)
• Belgium Enhancing the cost efficiency of the health sector to adjust to population ageing (2013)
• Brazil Pension Reform in Brazil (2017)
• Canada Increasing inclusiveness for women, youth and seniors (2018)
  
• Colombia Reforming the pension system to increase coverage and equity (2015)
• Denmark Getting the incentives right in an ageing society (2016)
• Denmark Ambitious retirement age indexation ensures sustainable public finances in Denmark (2018)
• Finland Age, skills and labour market outcomes (2016)
• Finland The economic consequences of ageing (2014)
• Finland Coping with the job crisis and preparing for ageing (2010)
• France Objectives and challenges in the implementation of a universal pension system (2019)
• Germany Raising wellbeing in Germany's ageing society (2016)
• Hungary The challenges of sustaining Hungary's pension and health systems (2018)
• Israel Improving the pension system and the welfare of retirees in Israel (2016)
• Italy Intergenerational accounts (coming 2019)
• Japan Ensuring fiscal sustainability in the context of shrinking and ageing population (2017)
•  Japan Meeting fiscal challenges in a rapidly ageing society and Labour market reform to cope with a shrinking and ageing population (2019)
  
• Lithuania Ageing together (2018)
• Netherlands Making the pension system less vulnerable to financial crises (2010)
• Netherlands Coping with population ageing, (2018)
• Switzerland Ageing, pensions, health and long-term care (2019)
• Slovenia The economic consequences of an ageing population in Slovenia (2015)
• United States Restoring fiscal sustainability (2010)

• Labour supply of older people in advanced economies: the impact of changes to statutory retirement ages
• The Long View: Scenarios for the world economy to 2060
• Public pensions: http://www.oecd.org/els/public-pensions/
• Private pensions: https://www.oecd.org/finance/private-pensions/
• Long-term care: https://www.oecd.org/els/health-systems/long-term-care.htm
• Ageing and employment policies: http://www.oecd.org/employment/ageingandemploymentpolicies.htm