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Will Older Workers Change Their Retirement Plans in Line with Government Thinking? A Review of Recent Literature on Retirement Intentions

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  • Jackson, N.
  • Walter, M.
  • Felmingham, B.
  • Spinaze, A.

Abstract

This paper reviews recent retirement and retirement intention literature, with a view to assessing the acceptability of growing calls for later retirement and the conditions that may lead to a change in present plans. The review finds broad consensus with regard to the key factors that enter the retirement decision, significant among which are that financial considerations are not always prioritised, and that high rates of involuntary retirement may hold the key to understanding the recent trend to early retirement. Across a broad range of studies, many external factors serve to disrupt retirement intentions, which exceed actual retirement by 1 to 3 years and desired retirement age by double that margin. The findings indicate an elasticity of around 6 years wherein actual retirement could now move up or down depending on how well revisions to retirement, and labour market policy, accord with the needs and interests of older workers. They also illustrate a related need for more information on the retirement intentions and circumstances of women, whose increasing labour force participation at older ages appears to account for the recent small increase in Australia’s average retirement age.

Suggested Citation

  • Jackson, N. & Walter, M. & Felmingham, B. & Spinaze, A., 2006. "Will Older Workers Change Their Retirement Plans in Line with Government Thinking? A Review of Recent Literature on Retirement Intentions," Australian Bulletin of Labour, National Institute of Labour Studies, vol. 32(4), pages 315-344.
    • Handle: RePEc:fli:journl:26177
    Note: Jackson, N., Walter, M., Felmingham, B., Spinaze, A., 2006. Will Older Workers Change Their Retirement Plans in Line with Government Thinking? A Review of Recent Literature on Retirement Intentions. Australian Bulletin of Labour, Vol. 32 No. 4, pp. 315-344.
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    References listed on IDEAS

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    4. Pannell, David J. & Roberts, Anna M., 2010. "Australia’s National Action Plan for Salinity and Water Quality: a retrospective assessment," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(4), pages 1-20.
    5. Stefan Hajkowicz & Andrew Higgins & Kristen Williams & Daniel P. Faith & Michael Burton, 2007. "Optimisation and the selection of conservation contracts," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 51(1), pages 39-56, March.
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    Cited by:

    1. Philip Taylor & Catherine Earl & Christopher McLoughlin, 2016. "Contractual Arrangements and the Retirement Intentions of Women in Australia," Australian Journal of Labour Economics (AJLE), Bankwest Curtin Economics Centre (BCEC), Curtin Business School, vol. 19(3), pages 175-195.
    2. Seyed Mehdi Khadem & Darush Rahmati & Ali Yavari & Seyed Ehsan Etemadifar & Alireza Eftekharian, 2016. "Rating Effective Factors on Motivating Employees for Job Persistence by Using Fuzzy AHP Method: A Case Study among the Employees of the Deqat Khodro Kousha (IPACO) Company," Asian Social Science, Canadian Center of Science and Education, vol. 12(7), pages 159-159, July.

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