Forward Look Project of the European Science Foundation

“Ageing, Pensions and Health”

Goal: help to shape the European research agenda in the next 10 years

Lans Bovenberg, Arthur van Soest

Scientific and Policy Relevance

Policy: turn ageing from threat into an opportunity• Lisbon agenda: Europe leading the world• Protect human resources• Encourage financial and social innovation• Reinvent retirement, health care, income provisions

Research: exploit European diversity to our advantage • To uncover causal links• To create European Research Area (ERA): links across

countries and disciplines• To stimulate mobility of researchers and ideas

This implies a need for data and other infrastructures

Five Fields Studying Overlapping Sets of Issues:

• Micro-economics of ageing• Sociology and psychology of ageing• Health economics• Finance• Public policy & macro-economics

In this Forward Look, insights from these disciplines are combined and research topics are addressed from several disciplines

Three Broad Themes

• Point of departure: decisions at the micro level (individuals, households, firms, ….)

• Organized along three themes:

• Labour market issues• Income security at an older age• Well-being of the elderly

Activities of the Forward Look (1)

10 Commissioned papers (3-4 per theme) structured as follows:

• Policy questions

• Major progress in understandings

• remaining gaps in knowledge: main challenges

• current state of play of European research infrastructures and networks

• Required research infrastructures, methodological innovations, data, networks etc and consequences for research policy

• What (and when) can we deliver on policy questions?

• Length: between 7,500 and 10,000 words

Activities of the Forward Look (2)

Three workshops:

• Income security at an older ageTurin, September 19, 2008

• Well-being of the elderlyLausanne, October 24, 2008

• Labour market issuesDublin, November 14, 2008

Final Conference: The Hague, April 22, 2009

Final report (& perhaps, follow-up proposal(s))

Papers Theme 1 (Labour Market Issues):

“Employment at older ages - supply and demand factors,” Brendan Whelan, Amilcar Moreira and Asghar Zaidi

“Pension systems and human capital,” Bas Jacobs

“Labour force participation of older workers,” Arthur van Soest

Papers Theme 2 (Financial security):

“Adequacy of saving for old age,” Elsa Fornero, Annamaria Lusardi, Chiara Monticone

“Risk and portfolio choices,” Christian Gollier

“Financial institutions and innovative products,” Lans Bovenberg and Theo Nijman

Papers Theme 3 (Well-being of the elderly):

“Old age, health, long term care,” Alberto Holly

“Social productivity and well-being,” Johannes Siegrist and Morten Wahrendorf

“Social networks,” Martin Kohli & Harald Künemund

“Regulation of psycho-social well-being,” Dieter Ferring and Pascalina Perrig-Chiello