Retirement in a global labour market: a call for abolishing the fixed retirement age

Abstract

Purpose

The purpose of this paper is to explore potential benefits and possible pitfalls of the removal of the default retirement age.

Design/methodology/approach

A human capital and labour market perspective provide theoretical lenses for exploring the potential implications for individuals, organizations and societies. The paper employs financial costing analysis to demonstrate.

Findings

The paper uses the UK case to illustrate anticipated managerial and societal outcomes. The main finding from the discussion and the financial analysis is that indeed the current system is unsustainable.

Originality/value

The paper offers areas where lessons about age management can be learnt from other experiences of flexible retirement strategies such as enhancing older workers ' human capital. The idea is of global nature and relevance and forms a “wake-up call” for decision makers at national level.

Citation

Baruch, Y., Sayce, S. and Gregoriou, A. (2014), "Retirement in a global labour market: a call for abolishing the fixed retirement age", Personnel Review, Vol. 43 No. 3, pp. 464-482. https://doi.org/10.1108/PR-04-2013-0059