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ing from the 1st of July 2017 & reaching 67 on the 1st of July 2023.

The Government has reiterated the importance of such a decision by informing the public the increasing pension age is a responsible reform to meet the challenge of an ageing population and the economic impact it will have for all Australians. It is estimated that a person will be in retirement much more at present than it was in the early 20th century. In this scenario it is vital that the government introduced a scheme as this to prevent major economic & social implications.

Example - Rising Health costs

Many other developed countries have made the decision to increase their pension age. For example the United States, Germany, Norway, Denmark and Iceland are progressively increasing their pension age to 67 while the United Kingdom has increased it to 68.

The decision to increase the pension eligibility age has impacted the organisation's behaviour towards their employees. The report will now discuss the implications of this decision in the context of Human resources & Organisational development.

组织的影响HR&OD-Organisational Implications - HR & OD

The importance of mature age workers - The increase in pension eligibility criteria has further reiterated the importance of mature age workers. The experience of these workers is the main asset for the organisations as it will help younger employees to groom themselves in to future managers by working alongside experienced professionals.

With the continuing ageing of the workforce, agencies will need to ensure their management and work practices are geared to maximising the contribution of mature-aged workers and encouraging those who are making a valuable contribution to stay longer in the workforce. Organisations can influence the retirement plans of mature aged workers by giving attractive remuneration packages to keep them in the organisation for another year or so. The main reason in doing so the continuing decline of young people in the workforce. Mature aged workers will be an asset to retain as they would help in the progress of younger employees in the organisation. Organisations can also present mature aged workers with a flexible working schedule that suits them. This would motivate staff to get involved in the organisation more than usual as it suits them better. Human resources play a significant role in regards to these issues. Human resources need to be aware of the current situation in the labour market & act accordingly to mitigate the problem.

For example - Providing more flexible working arrangements as discussed above, such as part-time work and phased retirement would assist in the retention of mature-aged workers. Human resources could also consider giving mature employees more license to use their skills more creatively (mentoring, skills transfer, and different roles with the opportunity, where desired and appropriate, to phase out managerial responsibilities).

Human resources need to initiate a plan to encourage mature workers lead by example & develop themselves in accordance with their younger counterparts who consists of paper qualifications. Negative implications by mature workers could result in negative results for the organisation. So it is important to keep mature workers involved as much as possible to mitigate