Rethinking Retirement – Module Ageing & Later Life (Medicine and Health Cluster) Contributed to a Credit Suisse’s Global Study on Retirement.
Over the past decade, policymakers and business leaders as well as researchers around the world have been busy rethinking – and redefining – retirement a major life event in our later life in response to a rapidly ageing society today. Most developed countries around the world have sought to delay the timing of their workers’ retirement beyond the conventional retirement age, and workers’ retirement paths have become more diverse and complex than ever before. Amid such a global trend, our world has come to ask – what does it mean to work and age in the 21st century workforce and economy? What is a ‘successful model of retirement’ that we can envision and pursue this century for our rapidly ageing workforce?
Credit Suisse, headquartered in Zürich, Switzerland, is among the world’s largest multinational banks, and its primary research division, The Credit Suisse Research Institute (CSRI), recently conducted a global study titled “Rethinking Retirement.” In search of a sustainable model of retirement on our ageing globe, this ambitious study surveys the recent trends of retirement and analyzes the future prospects in most countries around the world today. The final report of this study was presented at the World Economic Forum Annual Meeting, one of the most important venues for national leaders around the world, on January 21, 2020.
Masa Higo, Leader of the Module Ageing & Later Life of Q-AOS Medicine and Health Cluster, was invited to contribute to the “Rethinking Retirement” study report as an expert of retirement issues in Asia and Oceania. In response to a request to summarize, from a global perspective, a Japanese approach to reforming retirement and its future prospects, he contributed a guest-authored commentary titled “Japan’s ‘Adjustment Approach’ to the Future of Retirement.” In this commentary article, Masa Higo outlines a set of distinctive approaches that a hyper-aged Japan has taken to date through a series of major public policies to help older workers remain in the labor force beyond age 60. He also highlights the country’s persistent gender inequality in employment as an area that calls for urgent improvement in order to help mitigate the impact of the country’s rapidly ageing and shrinking workforce. Together, his commentary encourages policymakers in other Asian countries to draw both positive and nagatie lessons from the case of Japan.
The CSRI’s study report, “Rethinking Retirement,” is available at the following URL (Masa Higo’s commentary article appears on page 31 of the report):
The Front Cover of the CSRI’s Global Study Report, “Rethinking Retirement” (January 2020)
World Economic Forum Annual Meeting 2020: A Digital Image for Public Use