As it concerns the demographic data it stated that more than half of all men and women ages 60 and over interviewed for the report, do not receive income from a pension fund and stated this was the main reason they remained active in the labour force.
The report projects that the proportion of older folks ages 60 and above in the workplace will rise to 15% by 2050, an increase from 7.5% in 2015.
ECLAC states:
"This [increase] is due, above all, to the ageing of the population and, to a lesser degree, a moderate increase in older adults' labour participation."
Inspite of the recent expansion of contributory pension systems across eight of the Latin American and Caribbean countries, the data shows that an average 57.7% of persons between the ages of 65 and 69 years old, and 51.8% of persons 70 years and older, still do not receive a pension from a contributory system. Alarmingly, the figures are higher for women. The report noted that this forces many older persons to work. The report also noted that most of the elderly labour force work in the agricultural sector where the pension coverage is low.
----------------------------------------------------------References:
Economic Commission for Latin America and the Caribbean. 'Employment Situation in Latin America and the Caribbean'. 2018. Retrieved repository.eclac.org S1800397_en
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