H&A - March 12th, 2012.docx

11 views3 pages
Work and Retirement in Later Life
Importance of work
Identity, meaning, social status, role, satisfaction, source of income
Retirement can be viewed as:
A social institution
A social role
A process
A phase of life
Institutionalization of retirement
For retirement to become institutionalized, conditions that must be present:
1. A large group of people must live long enough to retire
2. The economy must be productive enough to support people who are not in the work
force
3. There must be pensions or insurance programs to support people during their
retirement (political and societal influences.)
Institutional form of retirement
Is a function of numerous factors:
- Population aging
- The state of the economy
- Historical events (depression, recession, war)
- Pressures from various interest groups (unions)
- Support from employers, employees and government
Concepts
Retirement principle: the idea that at a fixed age, regardless of mental or physical ability,
a person leaves work.
Retirement wage: a person paid by the state to support all older workers (not in labor
force)
Citizen’s wage: a share of the social product over and above any claims they may have
possessed in their capacity as wage earners
Factors leading to retirement
Social forces:
If there are mandatory retirement rules
Pension availability at age 65 eligibility for government income programs begins
at 65 (OAS, GIS)
More positive societal attitudes towards retirement
Personal conditions/factors:
Poor health
Attitude towards work (less attached)
Financial situation
Unlock document

This preview shows page 1 of the document.
Unlock all 3 pages and 3 million more documents.

Already have an account? Log in

Get OneClass Notes+

Unlimited access to class notes and textbook notes.

YearlyBest Value
75% OFF
$8 USD/m
Monthly
$30 USD/m
You will be charged $96 USD upfront and auto renewed at the end of each cycle. You may cancel anytime under Payment Settings. For more information, see our Terms and Privacy.
Payments are encrypted using 256-bit SSL. Powered by Stripe.