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Thoughts on retirement and pension – an age study

By: Robb Stark

Let us go back one hundred years; pension was unheard of and most people usually worked until they died, that was the only way of staying alive. Today we live longer, work less and are more active during the last stages of our lives. Someone who retires and starts using their pension at sixty five years of age usually have twenty more years to go for other things. However, many are forced or choose to retire earlier than that.

The trend moves towards a higher general age in which people are working and this in turn has resulted in higher demands for the market and companies to reconstruct their organizations and views on the working environment. At the same time the demand for education, competence development and flexibility has grown larger. These changes in particular submit further strains on the older generation close to pension, which may lead to increased sick leaves, early retirement and unemployment within the age group.

With increasing age also comes increased risk for long-term sick-leaves and early retirement and the most common reason for persons between fifty five and sixty four not being at work is ill health. This means that as the general age of people working increases, so will the sick-leaves. Industry is a trade in which older people are particularly exposed. Previously, those who have had an extremely demanding work has had the option of getting less demanding work within the same company, such as janitor type jobs. Nowadays, these types of positions have usually been made obsolete or our sourced.

Another concerning phenomena is that at the same time as we live longer and have fewer children, the number of older people increases at the same time as the number of younger people decreases. This, in essence, means that fewer people will have to support ever more as time moves on. Especially in countries where pension in large is subsidized by taxes.

To be able to utilize the older people close to pension is therefore quite important, in both a community perspective as well as an organizational one because less have to support more and companies are awaiting mass retirements and pensions have to be paid out. From the individual stand point this may be even more important. Employees have to be able to work until retirement and pension in a satisfactory manner and, afterwards, enter retirement with a high quality of life.

The biological aging process can also be hurried substantially by life style factors. If one is active in different ways, both through social activities and physical exercise, it usually has a positive impact on one’s health. At the same time, good health makes it easier to be active. It is a classic hamster wheel that goes round and round. The type of work people does usually have an impact on how their life style looks and on relationships outside the work place. To some, work gives meaning to their lives and is connected to joy and development, at the same time others feel stress and experience ill health which usually results in early pension and retirement.

Article Source: http://www.articlewheel.com

Robb is thinking of - and writing about - his future retirement. This article was inspired by PP Pension - Avtalspension and will be posted at Robb's blog about money matters.

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