More and more people 65 and older are continuing to work across the OECD. The reasons for working beyond this particular point in life vary from person to person.
Labour force participation among this age group across the OECD ranges from 2.4% (Romania) to 41.7% (Indonesia). In Switzerland, the rate was 11.1% in 2020, higher than it was in 2005 (7.5%), but lower than it was in 1991 (14.9%). The OECD average is currently 15.5%, so Switzerland is 28% below average.
Men in Switzerland over 64 (15.2%) are far more likely to be working than women of the same age (7.8%).
Reasons for working beyond 64 typically include maintaining social connections, keeping physically and mentally active, having a sense of purpose, learning, continuing to contribute and the financial benefits of earning pay packet.
Unemployment rates among workers in older age groups are relatively low in Switzerland. In 2020, the unemployment rate across all age groups was 5.0%. However, rates among 55-64 year olds (3.9%) and over 64s (1.0%) were markedly lower. The age group with the highest unemployment rate was 15-24 (8.6%).
Nations with high labour force participation above 64 years old include: Indonesia (41.7%), South Korea (36.3%), Iceland (33.4%), Japan (25.6%) and New Zealand (25.1%). At the low end is a list of European nations that includes Romania (2.4%), Belgium (2.8%), Spain (3.2%), Croatia (3.4%) and France (3.5%).
OECD data (in English)