chapter 9 - retirement and work Flashcards
the idea that a person leaves work at a fixed age, regardless of mental or physical ability
Retirement principle
a person paid by the state to support all older people
Retirement wage
a government pension tied to age
Citizens wage
taxes paid on earnings by recipients of the Guaranteed Income Supplement and provincial supplements, which can amount to a 100% reduction in supplement payments for the poorest older people who work.
taxback
a job that a worker takes on the path to retirement (often in work outside the individual’s former career)
Bridge job
an option that allows workers to slowly cut back the number of hours they work each week
Flexible retirement
work that allows a person to develop skills they did not use in their pre-retirement career
second career
a second career in a field that allows a person to explore previously dormant or undeveloped interests.
free career
the period of life after the period of work and child rearing in the middle years, but before frailty and dependence set in (the fourth age); a period of life created by longer life expectancy and a longer period of good health in later life
third age
takes place after a midlife career ends; it accomplishes something important: it pays a salary and allows a person to give back to society
encore career
occurs as disadvantages such as low pay and time off work due to family caregiving for women add up and lead to economic disadvantage in later life
Cumulative disadvantage
consists of a person’s commitments to specific activities and relationships, including family, community service, spiritual development, recreation, and in some cases, work.
life portfolio
