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9 - Retirement

Published online by Cambridge University Press:  05 June 2012

By
Lynn McDonald
Edited by
Ian Stuart-Hamilton
Lynn McDonald
Affiliation:
University of Toronto
Ian Stuart-Hamilton
Affiliation:
University of Glamorgan
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Summary

OVERVIEW

This chapter examines key facets of retirement, including the institutionalization of retirement, definitions of retirement, the scope of retirement, the age of retirement, the length of retirement, retirement theories, reinventing the concept of retirement, health and wealth, the timing of retirement, and families and retirement.

Introduction

Retirement, as a social institution, emerged in modern industrialized societies at the beginning of the twentieth century. Scholarship into retirement began in earnest in the late 1940s and early 1950s, but because of its rapid evolution, there is always some doubt about the relevance of research conducted in earlier times to retirement today. Just as social scientists think they have a clear picture of the transition from work to retirement, its causes and consequences, the picture shifts, presenting different economic conditions, policies and individual preferences that require new explanations. For example, while retirement may have been initially developed as a reward for loyal older workers to encourage lifelong attachment to employers, in a recession, retirement may be used as a mechanism to trim older workers from the labour force as quickly as possible. These variations on retirement are founded on the underlying idea that retirement was designed to move the older worker out of the labour force in a systematic manner without causing undue financial upset, while solving the societal problem of what to do with an ageing labour force.

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An Introduction to Gerontology , pp. 251 - 282
Publisher: Cambridge University Press
Print publication year: 2011

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  • Retirement
  • Edited by Ian Stuart-Hamilton, University of Glamorgan
  • Book: An Introduction to Gerontology
  • Online publication: 05 June 2012
  • Chapter DOI: https://doi.org/10.1017/CBO9780511973697.009
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  • Retirement
  • Edited by Ian Stuart-Hamilton, University of Glamorgan
  • Book: An Introduction to Gerontology
  • Online publication: 05 June 2012
  • Chapter DOI: https://doi.org/10.1017/CBO9780511973697.009
Available formats
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  • Retirement
  • Edited by Ian Stuart-Hamilton, University of Glamorgan
  • Book: An Introduction to Gerontology
  • Online publication: 05 June 2012
  • Chapter DOI: https://doi.org/10.1017/CBO9780511973697.009
Available formats
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