04:05 Issue 14

04:05 GLOBAL

The Baby Boomer generation — still working, delaying retirement, or continuing to work despite receiving pensions — is the main financial backer of the emerging workforce. Rent, private school fees, summer internships, overseas dreams… much of it is still powered by family support. So, it’s not just social security carrying the younger generation — family economics are, too. And that creates a new equation: The younger generation can afford not to work because mature workers are both working and supporting them. But this quiet wealth transfer won’t last forever. As Boomers age, that support chain will break. When that day comes, the emerging workforce won’t have the luxury of waiting — they’ll have no choice but to work. But here’s the question: Will the system still be calling them in?

In Türkiye, millions are officially “retired” but still head to work each morning. Retirement is no longer a status; it’s a side income.

proportion of workers aged 55–64 has increased by more than 66%. In Sweden, the retirement age is approaching 75. France was in flames over a two-year increase. Even China has raised the retirement age for the first time since 1978. In Türkiye, millions are officially “retired” but still head to work each morning. Retirement is no longer a status; it’s a side income. These “unretired retirees” are helping keep the system afloat. Why Is The Younger Generation So Comfortable? Because — for now — they’re still being supported.

According to research by a talent platform: 80% believe the four- day work week should

be the new normal. 60% won’t consider a job unless it offers hybrid flexibility.

And without emotional incentives like meaning, belonging, and flexibility, they won’t even consider applying. There are jobs, but the emerging workforce isn’t showing up for that kind of package. Mature Workers Can’t Afford to Retire OECD data shows that while overall employment rates have remained stable since the 1990s, the

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GLOBAL PAYROLL MAGAZINE ISSUE 14

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