This research is sponsored by the Economic and Social Research Council (ESRC) and the Research Grant Council (RGC). Its aim is to explore the choices workers have with regards to how and when they retire, thereby fostering workplaces in which people can pursue longer, healthier and more productive careers. The United Nations, World Health Organization and European Union are recommending that employers find ways to broaden the choices workers have late in their careers through human resource policies such as flexible working time, lifelong learning, job rotation, and working in age mixed teams. A wealth of research suggest that when older workers have flexibility over their retirement transitions, there are mutual benefits for the worker (who can maintain the benefits of work, such as income, social networks and identity) and her/his employer (who can better workforce plan and retain the skills of the retiring individual). Although the “phased retirement” option is popular with older workers and employers, it is seldom used in Hong Kong. Often, this is because neither older workers nor their managers are aware of the choices which are available to them.
In Japan, the government has invested heavily in what they call silver human resource centres, which deliver support and advice to jobseekers over 60. The key to these services is that in Japan jobcentres act as brokers, developing profiles of their clients’ skills and experience, and matching them with what businesses need. They also deploy the civically minded older people to deliver community services like caring for the elderly or helping with urban regeneration. It’s a win for businesses, who gain experienced and knowledgeable employees, a win for the people who are helped back into work, and a win for the public purse with the expansion of the taxpaying base.
Unemployed over-50s will be offered “career reviews” and help using computers as part of plans to get more people in that age group into work.
The shrinking and the ageing of Japan’s population are accelerating at a rapid pace unprecedented in other countries. This transformation makes savings shrink, national economic growth potential weaken and the financial structure deteriorate while giving rise to various other social problems. Although the shifts in Japan’s demographic situation as shown by relevant future predictions are fairly certain, the Japanese government has avoided dealing with this problem in a proactive manner and thus has exacerbated it.
Retirement advice from retirees worldwide
Reaching State Pension age doesn’t mean you have to give up work – paid or voluntary. You can choose to keep on working while claiming State Pension, or delay your claim and get paid more later on. The government also offers schemes and incentives to help you find work.
Age UK is the country’s largest charity dedicated to helping everyone make the most of later life.
Review your options, plan your future,
Work ability is a measure of an inter-relationship between the work capacity of the
worker and the work he or she does. It takes into account all the factors that might
influence that capacity, and make the job more or less do-able.
What does ‘career’ mean to people in their 60th year? Reflections, projections and interpretations by people born in the late 1940s
The International Longevity Centre-UK is the leading think tank on longevity and demographic change. It is an independent, non-partisan think tank dedicated to addressing issues of longevity, ageing and population change. We develop ideas, undertake research and create a forum for debate.
Working with The International Longevity Centre, The Prince’s Initiative for Mature Enterprise (PRIME) and Business In The Community have embarked on a campaign to tackle this issue and have launched the first of three reports looking at the economic barriers facing the over 50s: The missing million: illuminating the employment challenges of the over 50s.