New Delhi, July 11 -- Age-related workplace barriers could cost Organisation for Economic Co-operation and Development (OECD) economies nearly $500 billion in cumulative productivity losses by 2040, the World Economic Forum and Marsh said in a new report, as ageing populations grow far faster than the working-age workforce.

OECD economies refer to the 38 member countries that are highly developed, democratic, high-income nations that operate on free-market principles.

"OECD countries, it is estimated, will suffer nearly $500 billion in productivity losses by 2040, due to under- and unemployment of adults aged 55+ relative to younger workers," the report finds. The losses are tied to longer unemployment spells and structural barriers tha...