Today’s Image of Retirement

Posted by suzanne  at June 28th, 2013

Many factors have impacted our image of retirement with the traditional age for retirement influencing expectations in particular. Age sixty-five looms large as a magical age for retirement and seniorhood. Yet, this was not always the case.

Retirement is a social construction. In the past, there was no retirement. There were few elderly people because it was rare for someone to reach old age.

When retirement was first conceived in 1883 by Chancellor Otto Von Bismark of Germany, western society was different. Perspectives were different. Sixty-five years of age was chosen for an individual to receive a pension; however, this was with the expectation that most individuals would never live long enough to actually retire and collect the pension.

A lot has changed. Older adults are healthier and life expectancy has increased significantly over the past 130 years.

Individuals want to remain active and engaged. It is no longer your grandmother’s or your grandfather’s retirement.