Introducing explicit pension age changes as in the UK is not the end of the line

Aaron George Grech outlines the thinking underpinning this policy innovation and compares it with other approaches used internationally to address rising longevity. He concludes that while many different complex ‘solutions’ have been devised, their effectiveness will depend on economic behaviour changing significantly. This will require complementary policies, such as ensuring citizens understand their pension system and taking action to improve labour market participation at older ages and among women.