RJ and Makay

To help ensure the financial security of their citizens in old age, the United States and other developed countries should raise the age at which people can begin collecting government retirement benefits like Social Security. Otherwise, there could be severe consequences for the elderly, the Organization for Economic Cooperation and Development (OECD) warns.

More fiscally and socially responsible measures are needed to avoid a resurgence of old-age poverty in the future, explains OECD secretary general Angel Gurria. “This risk is heightened by growing earnings inequality in many countries, which will feed through into greater inequality in retirement," he adds.