Future of retirement
It is a quirk of public policy debate on retirement that an ageing population is often seen as a problem rather than a cause for celebration. As life expectancy rises and birth rates fall, pension systems based on compulsory retirement ages are coming under increasing financial strain. Yet a new survey shows a remarkable global consensus over what should be done, with far-reaching implications for employers.
The survey, published by HSBC, examined attitudes to ageing in rich countries such as the US, UK and France, and in emerging economies such as China, Brazil and India. Covering more than half the world's population, it shows dramatic variations in attitudes. Asians are much more likely to have negative views of older people than Americans, while the most positive views of later life are found in the more affluent countries.
Yet a clear majority in all the countries wanted to scrap mandatory retirement ages - ranging from just over 60 per cent in China to more than 90 per cent in the US. Four out of five said people should go on working as long as they were able, if they wished to.
The survey asked for preferences between increasing taxes, reducing pensions and raising the retirement age to pay for the rising pensions bill. Only 15 per cent wanted lower benefits and just 26 per cent said they would accept higher taxes, while 45 per cent chose raising the retirement age.
One reason is that most people expect to need to go on working - only 14 per cent thought they would be financially independent in old age. Yet there were more positive reasons, with most seeing a combination of work and leisure as the ideal "later lifestyle". Only 21 per cent thought avoiding stress was important to a happy life.
Yet people are still retiring before reaching retirement age - and below the age at which they say old age begins. One reason is that workplaces are geared up to full-time employment that ends abruptly with a complete cessation of paid work at retirement. This sudden and total withdrawal is often encouraged by pensions tied to final pay, which prompts older staff to retire at the peak of their career and employers to retire them earlier if possible.
Given the survey's findings that this is not what people want, the pressures that lead to such premature total retirement should be eased. This is also in the interests of employers, who are finding demographic changes making it increasingly difficult to recruit the staff they need - especially those with expertise and experience.
Governments have a role to play in abolishing compulsory retirement ages and reforming pension systems so they do not penalise those who work on. Employers must ensure that staff who wish to work less or downshift can do so without loss. And as HSBC notes in the survey, the financial services industry needs to develop products to match the expectations of older people, and to provide the advice they need to fulfil their ambitions.
反思退休制度
人口老龄化总被视为问题而非值得庆祝的事，这是有关退休的公共政策辩论的古怪之处。随着预期寿命延长和出生率下降，基于强制退休年龄的养老金体系正承受着越来越沉重的资金压力。不过，一项最新调查表明，全球已就未来行动达成引人瞩目的共识，这将对雇主产生深远影响。
由汇丰银行（HSBC）公布的这项调查，考察了美国、英国和法国等富裕国家以及中国、巴西和印度等新型经济体对老龄化问题的看法。该调查覆盖了世界逾半数人口，结果显示各国看法大相径庭。亚洲消极看待老年人的可能性要大大高于美国，而在较为富裕的国家，对晚年的看法最积极。
然而，在所有国家中，希望取消强制退休年龄者从中国的60%多一点到美国的90%多，都占明显多数。五分之四的人说，假如愿意的话，只要有能力就应继续工作。
该调查问到，为支付日增的养老金支出，在增加税收、减少养老金以及延长退休年龄之间，更喜欢采用哪种方式。只有15%的人希望减少福利，26%说会同意增税，而45%选择了提高退休年龄。
一个原因在于，大多数人预计需要继续工作，只有14%的人认为自己将在晚年实现完全经济独立。不过，还有一些更积极的原因：大多数人把既工作又休闲视为理想的“晚年生活方式”。只有21%的人认为，避免压力对幸福生活是重要的。
但人们仍然在达到退休年龄前退休，并且低于他们认为步入老年的年龄。一个原因在于，工作岗位处于全职就业状态，一旦领薪工作在退休时完全终止，这种就业也随之突然结束。由于养老金与最终薪酬挂钩，致使老龄雇员倾向于在事业巅峰时期退休，而雇主则希望尽早让其退休，这往往会助长上述那种突然的全退。
考虑到该调查发现这并非人们所愿，导致此类过早全退的压力应有所缓和。这也符合雇主的利益。他们发现，人口变化正使其越来越难以招聘到能够满足需要的雇员，特别是有技能、有经验的雇员。
政府可以发挥作用，取消强制退休年龄，改革养老金体系，从而不损害那些继续工作者的利益。对于那些希望减少工作量或降低工作节奏的雇员，雇主必须确保其免受不公平对待。正如汇丰在调查中所指出，金融服务业需要开发新产品，以迎合老龄人口的期望，并为他们实现自己的目标提供所需建议。
