Remove disincentives for older workers to work

This would also raise subjective wellbeing. The pension reform in
Norway in 2010-11 provides an example for a comprehensive flexible retirement scheme that
does not penalise continued work (OECD, 2013c; OECD, 2014m). In Norway, pension and work
income can be combined without any restrictions and employment income earned by
pensioners generates additional pension rights.

Pension discounts for drawing a pension
before the pensionable age are large enough to fully compensate for the longer period of
expected pension receipt and the shorter contribution record (so-called actuarial neutrality).
Nearly 65% of workers aged 62-66 combine old age pensions with work.