Deanna Strable, CEO of Principal Financial Group, says European employers are unprepared for workers to remain in the labor market longer amid falling birth rates and the retirement of millions of baby boomers. In 2025, two-thirds of workers aged 55 to 64 in the European Union were employed, a record that requires companies to adapt their recruitment practices, job designs and training programs. Longer life expectancy also widens pension inequalities: an EU woman typically works four fewer years than a man, lives five years longer and receives a pension that is on average 24.5% lower. Principal recommends automatic enrollment in workplace pension plans, automatic contribution increases and accessible financial guidance for women, who express less confidence in public pension systems than men.
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