The past 10 years have witnessed a significant change in many benefits provided by employers and mandated by governments, according to an analysis of a decade of Mercer’s annual Worldwide Benefit and Employment Guidelines (WBEG). The 2014 WBEG is now available and includes in-depth data for 64 countries on trends, overviews, statutory and typical benefits, employment conditions, and more. Among the most significant changes in the past 10 years is the retirement age at which workers are eligible to access their state pensions. The increasing age of eligibility illustrates one way nations are responding to the financial pressures brought by an aging population — and it has serious talent and cost implications for employers.
“Benefit laws and regulations, including government-mandated retirement ages, are constantly changing, which can create challenges for companies operating in multiple locations,” says Samantha Polovina, the Mercer Principal responsible for the report. “To stay competitive for top talent and remain in compliance, employers must create effective and attractive benefit plans that are statutorily correct.”
Learn more about benefit practices around the world.
For more information about this report, visit www.imercer.com/wbeg.