Early Retirement Policy and Youth Unemployment: A Review of International Experiences

Document Type : Original Article

Authors

1 PhD in Economics, Assistant Professor, Economics Group – Yazd University (Corresponding Author) h.samani@yazd.ac.ir

2 MSc in Economics, Yazd University.

Abstract

Purpose: Countries have implemented various policies aimed at creating jobs for the youth. One of these policies has been the early retirement plan to open job opportunities for young people; However, due to low fertility rate and increasing life expectancy, the society is facing the challenge of aging, which requires attention to maintain and create jobs for the elderly. Due to the high cost of these schemes for pension funds and social security system, these schemes were gradually removed from the agenda and stricter social security laws were introduced. The purpose of this article is a comparative study of implemented policies and their results in
different countries in this field.
Method and Material: In this research, by comparative study method, the experience of implementing the abovementioned policies as well as the literature of related experimental research have been reviewed. Totally, the experience of 15 structural modifications in 9 countries has been reviewed along with 14 foreign studies and 5 related domestic studies.
Findings and Results: The results shows that in most of the surveyed countries, early retirement has led to a decrease in the employment rate of young people and the elderly. Some countries have experienced an increase in the employment of both groups by repealing this policy and implementing policies related to the type of employment of young people and the elderly. The results of some studies emphasize the negative relationship or lack of obvious relationship between youth unemployment rate and elderly employment.

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History

  • Receive Date: 04 April 2022
  • Accept Date: 04 April 2022

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