In this respect, it is good to note that this concept of life-long learning is one of the leading principles of education at INSEAD. Living and working longer also requires an increase in retirement ages. Until recently, most European countries never increased their statutory retirement ages despite the increased longevity of their population.
This threatens the sustainability of the pay-as-you-go financed European public pension schemes. Germany and the UK have recently announced a gradual increase in the statutory pension age to 67 and 68 respectively. Other European countries should also increase retirement ages in response to longevity developments if they want to keep a sound public pension scheme.