Chapter 9 Questions Flashcards
What social forces led retirement to arise in modern society?
Retirement has become a normative life event, but this is changing. Due to a longer life expectancy today, if they retire at age 65, some people will spend a quarter or more of their adult life in retirement
What philosophy or perspective supported the developemnt of retirement and made it possible? How do public pensions plan support the retirement plans of older workers?
Retirement gives older workers a graceful way to leave work. The government pushed for encouraging retirement, as it was seen that companies may push their workers out for more un-skilled younger employees that they may pay less.
Why do people choose to retire?
This could include a person’s expected pension income, early retirement incentives, loss of a job, health, a spouses decision to retire, and family responsibilities.
What social and economical forces lead workers to decide to retire?
Social forces include mandatory retirement rules, better pensions that start at age 65 and a more positive societal attitude toward retirement.
A poor regional economy led workers to retire early.
What social changes would encourage people to stay at work longer?
Longer life expectancies, better health among older workers, the change in the type of work people do (less manual), and the need for older worker’s expertise.
Why do some people choose early retirement?
Those workers in poor health, women who retire for personal reasons, and those who expect a good income in retirement choose to have an early retirement
Why do some people delay retirement?
Many can’t afford to retire at 65. Retirement often depends in part on a person’s past experience in the workplace and the economic conditions they face throughout life.
What effect will delayed retirement have on the labour forces? What social conditions today encouraged later retirement?
Many forgo early retirement to ensure a better pension, increase their savings, and ensure more years of income due to longer life expectancies. Older women in the workforce will push up the average retirement age. Companies have also started shifting to defined contributions plans, encouraging later retirement.
What are some of the options workers now have to traditional retirement?
A flexible retirement
- Option that allows them to slowly cut back the number of hours they work each week
Part-time work
- Part-time jobs can ease a worker’s move to full retirement.
Second careers
- These people work at second careers for more than the money, and allows them to express and develop skills they could not use when they worked full-time
What trends exist today that could open more options for women?
Women are more independent of their husbands and often are able to support themselves and their pension plans more often without less interruption.
