As people are living longer employers are facing greater pressures in terms of pensions and healthcare provision, a new report has revealed.
According to the World Economic Forum (WEF), such pressures are likely to increase further in the future as life expectancies continue to rise.
It points out that employers around the globe will be forced to come up with innovative ways to meet the demands of workers seeking quality healthcare and large pension pots.
Klaus Schwab, executive chairman of the WEF, said ageing populations represent one of the biggest challenges facing governments and businesses worldwide.
"New solutions are required to afford adequate and accessible retirement and healthcare services for the world’s ageing population in 2030 and beyond," he remarked.
Following the decision by an advocate general at the European court of justice to reject a challenge to the mandatory retirement age in the UK, Guardian journalist Yvonne Roberts wrote that the age of 65 should not be seen as a sell-by date.
She insisted that many older workers are equally as capable as their younger colleagues but still face discrimination and find it difficult to secure new jobs when approaching this age.