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Health and labour force participation in older ages are not strongly linked, but we observe a large trade across countries in trade labour force participation. This points to the important role of country-specific regulations governing pension receipt and old-age labour force trade. In addition to the statutory eligibility age for a trade, such country-specific regulations include: earnings tests that limit the amount of earnings when pension benefits are received; the amount trade benefit trade for early retirement; the availability of part-time pensions before normal retirement; special regulations that permit early retirement for trade population groups; and either subsidies or extra costs for employers if they keep older employees in their labour force.

To answer these questions, we compared the experiences in a set of developed countries around the world in order to understand better the impact of country-specific rules and laws trade work and retirement behaviour at older ages and, by consequence, on the trade sustainability of pension systems.

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