World Education Services’ Post

Do you think the workforce is ageing? - well it is - age 65+ in 1980 = 258m, 2022 = 771m, projections for 2030 = 994m and 2050 = 1.6bn. An interesting read!

One of the most prominent trends in today’s rapidly changing work landscape is the ageing workforce. Alongside increasing state pension and retirement ages, countries are revamping pension systems, offering wage subsidies and tax incentives to support older workers. Employers must prepare for this ageing workforce, as state retirement policies evolve to encourage longer careers, prompting a need for revised recruitment and retention strategies. In our latest report, which includes a survey of 26 countries, we explore global population trends, paying particular attention to their effects on the workplace and examine the government and employer measures that have already been implemented in various countries to address the reality of an ageing workforce. Download it here: https://lnkd.in/equ3hefq #AgeingWorkforce #WorkplaceTrends #RetirementPolicies #Recruitment #RetentionStrategies

This trend is something that's long been talked about in relation to immigration policy, so having information on the current position and future projections is useful to have!

This is a really interesting look at the global impact of the aging workforce and how different countries are managing it #futureofwork

The Employment (Restriction of Certain Mandatory Retirement Ages) Bill2024 This is a new Bill which seems is going to get delayed. For private sector workers, to allow them to work longer, if they want to. A number of successful age discrimination cases have been won recently against employers. Many are working longer, not because they want to. Because they need to. This is a separate issue which needs to be examined in itself. (This post is for information purposes only. For advice specific to your circumstances email [email protected] ). # mandatory retirement # age discrimination # unfairdismissal.ie

Beyond simple wages, the compensation gap goes further, affecting retirement savings and access to affordable healthcare. This inequity is ingrained, with raises, bonuses, and benefits often structured in ways that perpetuate the pay gap. Even seemingly neutral benefits like paid leave can disadvantage female employees due to criteria that favor longer tenures. Learn more about addressing these issues: 🔗 https://aon.io/3zsdnTZ #PayTransparency #EmployeeBenefits #BenefitsEquity #GenderPayGap #Aon

This seems to be one of the more powerful explanations of the gap in retirement funds between men and women. An extra 7 years would make a huge difference to retirement income. So here women retire early seemingly because of health issues. The union avoids saying definitively this is the cause but still wants 10 days more leave. They suggest that that these 10 days are going to mean all those early retirements will be postponed because of this. WEGA says the problem for women is the gender pay gap. Both say let’s make employers treat men and women the same , when they clearly are not. The most fundamental and important changes for women in the workforce have been equal pay legislation, step changing the Awards for those industries dominated by women and full employment. These changes address any embedded, systemic discrimination in the workplace. We are so focused on getting more “productivity” out of women the workplace I.e. more hours , less part time. , longer years of employment we not addressing the fundamental issues. Invest the cost of these policies into medical research and services for women to increase their joy of life, pay women more for their caring work (we are desperate for more carers) and in the short term boost retirement incomes for women who need it.

‘Single mothers and divorced women face heightened gender pensions gap.’ ‘More than a third (37%) of single mothers leave their jobs to look after children, and 48% said having children slowed their career progression.’ These are the scary findings from the recent women and retirement report. Again pointing to the fact that lack of flexibility in the workplace (among other elements) is impacting women not just now but also later in life. Could more flexibility in your workplace be further supporting single mothers? If you read one piece today please take a look at the below 👇

The Gender Pension Parity press coverage continues as our own Shane O'Farrell was featured once again over the weekend, this time by The Sunday Times Ireland. Discussing how important it is for women to be aware of the impact that time out of the workforce - such as maternity leave - can have on their pensions, Shane also highlighted some of the key things women can do to make up for missing years and how it's never too late to make a difference. Learn more about Gender Pension Parity, from the key drivers to solutions for closing the gap: https://lnkd.in/emJBgTMj

Here's something you may not think too much about regarding Paid Family Leave. What happens to your retirement contributions? The Australian Government has it covered (for Australians, I presume!). According to this article from Bloomberg, the Australian government not only provides paid leave, but starting in 2025 will also make contributions toward the workers' #pensions. Important to note that employers in Australia are already required to pay 11% of salary as a #pension contribution. Here in the US, it's not required, but many (most white collar jobs for sure) employers contribute toward an employees 401(k) (or 403b) retirement. Traditional pensions still exist in the US, but they are pretty rare. I have seen retirement contribution riders on disability income policies, but they aren't very common. I've not seen anything like this for Paid Family Leave. But what about it? Do you think employers would pay the extra cost of funding retirement plans for disabled workers or workers on parental leave? #paidfamilyleave #paidleave #retirement #retirementplanning #parentalleave #maternityleave #paternityleave #familyleave #401k #benefits #groupbenefits #disabilityinsurance #incomeprotection https://lnkd.in/d9Fub49c