Retirement or committed to work?

Abstract

Purpose The purpose of this paper is to provide a UK older worker's perspective on the influences of multiple work and non‐work related commitments on their decision to extend working lives or to retire. As demographic change and economic challenges related to the financing of health care and pension plans affect retirement policies, this paper seeks to explore the individual worker's perspective. Their choice is framed by seeking to balance financial security in later life with the positive elements of work and the desire to match work with other commitments, something hardly taken into consideration by employers. Design/methodology/approach The paper combines findings from existing research studies and UK based, semi‐structured interviews conducted as part of two ESF (European Social Fund) funded projects aiming at extending labour market participation for older workers. Key areas, such as retirement planning, training, flexibility and health are explored and the organisational identities/commitment literature provides a conceptual framework for understanding the push and pull factors associated with labour market exit among the over 50s. Findings Fundamental to the success of changes in government pension policies in terms of extending labour market participation of older workers is the element of individual agency rather than a view of victimisation. Viewing older workers as the ones who have to pay for increasing life expectancy by working longer could lead to people staying in work for the wrong reasons, negatively affecting productivity and job satisfaction. The discussion and conclusion stress the need for deeper understanding of work as one contributor to overall quality of life. Originality/value The political agenda to prolong working lives is principally driven by economic arguments. However, for any future policies to lead to an intrinsic motivation to want to remain in work, the voices of older workers express the desire to combine work with non‐work related commitments and identities. Achieving such balance could benefit the whole labour force.

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