The long goodbye: Age, demographics, and flexibility in retirement
Keywords:Workforce aging, life expectancy, partial retirement
AbstractThe current literature on retirement decisions has given inadequate attention to the impacts of increasing life expectancy. This paper examines workforce aging and retirement within a framework that not only includes age, but also integrates increasing life expectancy into the discussion. Employee preference surveys regarding choice in retirement are supported by the demographic and by work-time compression arguments for retirement flexibility. We outlinearguments why partial-retirement policies would be a practical and timely transition strategy for organizations and societies in a world of increasing life expectancies and aging workforces,especially when facing the imminent retirement of the large post-war baby-boom generation.
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