Rethinking Retirement

Lead Research Organisation: University of Brighton
Department Name: Brighton Business School

Abstract

Abstracts are not currently available in GtR for all funded research. This is normally because the abstract was not required at the time of proposal submission, but may be because it included sensitive information such as personal details.

Publications

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Lain D (2012) Introduction: Rethinking Retirement Incomes: Inequality and Policy Change in the UK and Anglo Saxon Countries in Social Policy and Society

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Loretto W (2013) Rethinking retirement: changing realities for older workers and employee relations? in Employee Relations

 
Title Rethinking employment and retirement : ESRC seminar 
Description This is the third in a series of videos for the ESRC Seminar Series 'Rethinking Retirement'. Experts discuss issue of employment in older age. 
Type Of Art Film/Video/Animation 
Year Produced 2011 
Impact This is the third in a series of videos for the ESRC Seminar Series 'Rethinking Retirement'. Experts discuss issue of employment in older age. It makes findings from the seminar accessible to policy makers and the general public 
URL http://www.rethinkingretirement.org/employment.html
 
Title Rethinking retirement : activity, unpaid work and active ageing 
Description This is the fourth in a series of videos for the ESRC Seminar Series 'Rethinking Retirement'. Experts discuss issue of Activity, Unpaid Work and Active Ageing. 
Type Of Art Film/Video/Animation 
Year Produced 2012 
Impact This is the fourth in a series of videos for the ESRC Seminar Series 'Rethinking Retirement'. Experts discuss issue of Activity, Unpaid Work and Active Ageing. This brings findings from the seminar series to policy makers and the general public. 
URL http://www.rethinkingretirement.org/activity.html
 
Title Rethinking retirement incomes : ESRC seminar 
Description This is the second in a series of videos for the ESRC Seminar Series 'Rethinking Retirement'. Experts discuss issue of retirement incomes and planning. 
Type Of Art Film/Video/Animation 
Year Produced 2011 
Impact This is the second in a series of videos for the ESRC Seminar Series 'Rethinking Retirement'. Experts discuss issue of retirement incomes and planning. It makes findings from the series accessible to the general public and policy makers. 
URL http://www.rethinkingretirement.org/income.html
 
Title Rethinking retirement, ESRC seminar series 
Description The launch video for the ESRC 'Rethinking Retirement' Seminar Series. Experts give their views on how the timing, experience and funding of retirement is changing. 
Type Of Art Film/Video/Animation 
Year Produced 2011 
Impact The launch video for the ESRC 'Rethinking Retirement' Seminar Series. Experts give their views on how the timing, experience and funding of retirement is changing. It has been viewed 868 times. 
URL http://www.rethinkingretirement.org/index.html
 
Title The future of retirement 
Description The final video for the ESRC 'Rethinking Retirement' Seminar Series. Experts give their views on the future of retirement. 
Type Of Art Film/Video/Animation 
Year Produced 2013 
Impact This makes findings of the seminar available to the general public and policy makers in the context of a dedicated website and on yuotube. 
URL http://www.rethinkingretirement.org/future.html
 
Description The main findings of the series can be summarised as follows:

Employment
• Early retirement is in decline across OECD countries, but has historically been higher in some countries (such as Germany) than in others (the US, UK and Sweden). Employment beyond normal pension age has also been rising across OECD countries, although to a higher levels in Anglo Saxon countries.
• Policy changes, such as the closure of early retirement schemes and incentives, rising state pension ages and the abolition of mandatory retirement, have contributed to employment increases. Relatively high labour market demand for much of the 2000s was a factor in the UK, but since the economic crash older Britons have nevertheless fared better than in previous recessions.
• Older workers are not a homogenous group, and their desires and motivations to work vary considerably depending on their work and family circumstances. Flexible part-time options are nevertheless attractive to many older people, although employers typically fail to provide them. Furthermore, whilst employers recognise that workforces in general are ageing, they often do not appreciate that their workforce will age. Older workers are frequently stereotyped, and they receive less training.
• Poor health, low education, and fewer training opportunities amongst a significant share of older people place constraints on their employment. Paid employment is not a realistic solution for the problem of low retirement incomes. Arguably it is more attractive for people to make decisions about employment from a position of financial security, not insecurity.

Retirement incomes and activity in older age
• In a number of countries, such as the US and Germany, older people are facing increasing financial insecurity. UK reforms have improved pension prospects for women and the low paid to a degree, but from very low initial pension levels. Financial returns from the NEST retirement savings scheme may also be highly variable.
• There have been persistent and strong inequalities in terms of retirement incomes, health and lifestyle outcomes.
• There is a need for greater emphasis and support for individual retirement planning. At the same time, however, people make decisions about working, saving and expenditure in a household context and policy needs to recognise this.
• Older people involved in 'socially productive' activities - volunteering, paid work, and caring - on average report having higher levels of psychological well-being. However, well-being nevertheless varies considerably for those involved in different activities, and is lower for those feeling under-appreciated for their efforts.
• Whilst the promotion of activity is a good thing in general, people need to feel in control of the activities they engage in. Furthermore, activity for the oldest old is seriously constrained. We need to consider other factors, such as relationships, alongside activity when thinking about well-being in older age.

A fuller description of these findings is on the website (www.rethinkingretirement.org). Papers from the series will also be collected together for special issues of Social Policy and Society (on retirement incomes) and Employee Relations (on employment), both scheduled for publication in 2013.
Exploitation Route A range of materials created for the seminar series are available on the website. These can be used for teaching, research, and widening debate on the issues explored by the seminar series.
Sectors Education,Healthcare,Government, Democracy and Justice,Retail,Other
URL http://www.rethinkingretirement.org/