Retirement Expectations and Labour Force Transitions: The Experience of the Baby Boomer Generation
Melbourne Institute of Applied Economic and Social Research, 2008 - Baby boom generation - 43 pages
More diverse pathways to retirement appear to be developing, with many more people expected make a gradual transition into retirement rather than leaving the labour force abruptly at the age of 65. Older baby boomers are now beginning to approach retirement age, but there is a general lack of data about the retirement intentions of Australian men and women in this age group. This paper describes the retirement intentions of baby boomers, investigating: how many are already in a transition job; how many intend to retire gradually; and how long they intend to spend in this transition phase. It then identifies the main patterns of labour force participation of baby boomers over the period 2000-2006, and the main factors influencing the most common patterns of labour supply observed over this period. These factors include: health, education, work experience, age and partner's employment status. Country of birth and carer responsibilities are also significant predictors of labour force participation patterns for baby boomer women.
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