Career transitions often leave workers with inadequate financial buffers. The modern workforce is increasingly dynamic, with people moving between jobs, careers and countries and perhaps taking time out of work or working at a reduced rate. While these transitions can provide exciting new opportunities, workers who change jobs or careers may lose access to essential benefits such as health, disability and life insurance, leaving them financially vulnerable during crucial periods such as illness, disability or family needs. Without a system that guarantees continuity of coverage, individuals face gaps in their protection, which can have lasting financial repercussions. A comprehensive solution is needed to ensure that workers are protected, regardless of their job transitions or life phases. Caring responsibilities drive significant financial disparities. As noted in the discussion on the economics of caregiving and long-term care, caring responsibilities can have profound impacts on long-term financial security. Within an ageing population, more individuals, especially women, are expected to take career breaks to care for children, ageing parents or family members with disabilities. These breaks often lead to gaps in their earnings and contributions to retirement savings, as well as affecting their career progression, hindering their ability to accumulate wealth over time. Gig, freelance and informal workers face income instability and limited access to benefits. The rapid rise of gig, freelance and informal work is reshaping the labour market, but these jobs often come with significant challenges. The inherent income volatility makes it difficult for workers to make consistent contributions to retirement savings and build long-term financial security. Without the stability of regular, salaried employment, these workers can also face limited access to traditional employee benefits such as paid health insurance, occupational retirement plans and paid leave. As the gig economy expands, there is a pressing need for systems that can provide more reliable financial support and ensure adequate retirement security for these non-traditional workers. Access to lifelong skill-building is essential for career mobility and financial stability. In today’s rapidly evolving job market, workers need continuous access to skill-building and upskilling opportunities to remain competitive and financially secure. Many individuals who may be near or over retirement age but remain in good health may wish to continue working. However, the lack of accessible, affordable training programmes means that these workers are often unable to transition into higher-paying or more stable roles as they age, which affects their financial stability over time, especially for those who may have needed to take time away from their careers for caring responsibilities. Additionally, older workers or those in marginalized communities are often overlooked when it comes to career development programmes, further exacerbating inequalities.5.2 Understanding the challenges Future-Proofing the Longevity Economy: Innovations and Key Trends 41

Future Proofing the Longevity Economy 2025