Rethinking Retirement in the 21st Century

As part of the ‘What Happens Next – Future of Ageing’ editorial project, Quartz published a video discussing what’s next for the global economy as it adapts to a rapidly ageing global population.

Various themes were interwoven throughout, discussing employment, retirement and caregiving in relation to the shifting population demographics. It provides insights for multiple ways in which older people are impacted by retirement, a topic which greatly excites IFA Expert Dr Amy D’Aprix.

For example, many older people may want to retire but are unable to do so due to financial insecurity, while others are forced into retirement, and a financially precarious situation, as many jobs and workplaces are not age-friendly. Compounding these issues are ageist narratives that dominate society suggesting that as people age, they have less to offer society.

“We are going to need to completely rethink the last third of life given that people are living much longer” – Dr Amy D’Aprix

The idea of retirement that has existed in the past is no longer viable. Not only are more older people continuing to work to much later ages, but many want to continue to make meaningful contributions to their communities and gain purpose through their work.

“Moving forward, we need to figure out how individuals, government and business can work together to address work-life sustainability and create more opportunities to meaningfully participate in the workforce” – Dr Amy D’Aprix

If left unaddressed, this increasingly complicated issue will not just effect those currently thinking about their impending retirement dates, but those just entering the workforce. Creating opportunities that take account for the varied needs of age-diverse communities and ensuring that ageist assumptions don’t negatively impact an older person’s ability to work is critical moving forward.

To learn more about changing the narrative around retirement and the importance of creating a sustainable workforce, contact Dr D’Aprix, or other IFA experts, today.