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According to estimates from the State General Accounting Office, published by Istat, the retirement age will continue to rise in the coming decades. The age limit for old-age pensions will rise from 67 years to 68 years and 11 months in 2050, reaching 70 years in 2067 for both men and women. The increase in the retirement age is accompanied by an increase in labor market participation among older age groups. Between 2024 and 2050, the employment rate for people aged 55 to 64 is predicted to rise from 61% to 70%, while the share of those aged 65 to 74 who will continue to work may rise from 11% to 16%. Overall, the employment rate for people aged 15 to 74 would rise from 58% to 62%. According to Istat, the female contribution will continue to be the most dynamic: women are expected to increase by more than five percentage points, from 49.4% to 55%, while males are expected to increase their participation to 68.3%. The demographic picture depicts an increasingly aging country: people over 65, who presently account for around a quarter of the population (24.3%), could account for more than a third (34.6%) by 2050. Over the same period, the 15-64 age group will decrease by nearly ten percentage points, from 63.5% to 54.3%. At the same time, life expectancy will continue to rise. In 2050, men could live an average of 84.3 years, while women could live 87.8. Even at age 65, residual life expectancy is anticipated to rise by 21.5 years for males and 24.4 years for women. Istat highlights that this progress will be accompanied by an overall improvement in the population's health.
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