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The labour supply of older workers in Hungary

The labour supply of older workers in Hungary. Scharle Ágota Ministry of Finance, Hungary Department of Economic Policy. Activity rates drop after age 45. This is very low compared to EU, even CEE levels. An experiment: increase activity rates for men aged 45-54 and 55-64.

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The labour supply of older workers in Hungary

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  1. The labour supply of older workers in Hungary Scharle Ágota Ministry of Finance, Hungary Department of Economic Policy

  2. Activity rates drop after age 45

  3. This is very low compared to EU, even CEE levels

  4. An experiment: increase activity rates for men aged 45-54 and 55-64

  5. And it is threatening the balance of the Pension Fund

  6. Activity would need to increase by 12 % points to balance PF

  7. Reasons behind low activity rates in old age • Low qualifications • High unemployment • Pension receipt • Attitudes

  8. Disability pension receipt has hardly declined since transition schock

  9. Possible solutions • Increase statutory retirement age (62->65) • Tighten eligibility for disability pension • Premium for later retirement • Integrate taxes and social support • Subsidies for low wage employment and old age workers • Minimum wage legislation

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