Retirement

By
Sumaera
Mahmood
 Definitions of retirement
 the state of being retired from one's
business or occupation
 withdrawal from your position or
occupation
 withdrawal for prayer and study and
meditation; "the religious retreat is a form
of vacation activity"
Late Adulthood

 Late Adulthood is the term

coined by developmental
psychologists describing the
period in an individual's life
beginning at ages sixty or seventy
and ending at death. This life
period, like any other, is one of
continuing change and
adjustment both in the physical
and the psychosocial realms.
 Retirement age
 In most countries, the idea
of a fixed retirement age is
of recent origin, being
introduced during the 19th
and 20th centuries - before
then, the absence of pension
arrangements meant that
most workers had to
continue to work until death,
or rely on the support of
family or friends..
 Retirement age for teachers in France is
thirty years after employment and age
50 for train engineers [2] on the SNCF,
the national railway. Policeman and
soldier in the United States are typically
allowed to retire at half pay after only
20 years of service or three-quarter pay
after 30 years, allowing people in their
early forties or fifties to retire.
 Many scientists, lawyers, TV
anchormen and professors still work
well into their 70s.
 Decide When to Retire
 A secure, comfortable retirement is every
worker's dream. And now because we're
living longer, healthier lives, we can
expect to spend more time in retirement
than our ancestors did. Achieving the
dream of a secure, comfortable retirement
is much easier when you plan your
finances.
The Challenges and The
Opportunities

By sumaera mehmood
Late adulthood is a time of relinquishing some roles and

adopting new ones.

 Many seek full retirement, others shift their work

roles to accommodate their changing ideas and
schedules. Some become caregivers to ill spouses
or aging family members. Some may lose their
role as spouse, and some begin dating again. For
many,
being a grandparent is a new and challenging rol
. Regardless of the life changes, late adulthood is
a time of continued development and enjoyment.
 At present time
 Nowadays most developed nations have systems
to provide pensions on retirement in old age,
which may be sponsored by employers or the
state. In many poorer countries, support for the
old is still mainly provided through the family.
 The retirement age varies from country to
country but it is generally between 55 and 70. In
some countries this age is different for male and
females. Sometimes certain jobs, the most
dangerous or fatiguing ones in particular, have an
earlier retirement age.
 Support and funds
 Retired workers then support
themselves either through
superannuation, pensions, or savings. In
most cases the money is provided by the
government, but sometimes granted
only by private subscriptions to
mutual funds. In this latter case,
subscriptions might be compulsory or
voluntary. In some countries an
additional "bonus" is granted una
tantum (once only) in proportion to the
years of work and the average wages;
this is usually provided by the
employer.
The cost of health

 The cost of health care in retirement is

large, because people tend to be ill
more frequently in later life.
Increasing numbers of older people,
combined with an increase in the cost
of healthcare, has led to the funding of
post-retirement health care becoming a
political issue. There is then pressure
to reform healthcare systems to
contain costs, or find new sources of
funding.
Life after Retirement
 Retirement might coincide with
important life changes; a retired
worker might move to a new location,
for example a specialised
retirement village, thereby having less
frequent contact with their previous
social context.
 In some countries, retired workers will
continue to participate in the life of
their family and their society, often
following ancient ethnic roles. Some
countries are sponsoring initiatives to
help retired workers keep contributing
to social and cultural life.
 later years of lives
 Many people in the later years of
their lives, due to failing health,
require assistance, the highest
degree of assistance - in some
countries - being provided in a
nursing home. Those who need
care, but are not in need of
constant assistance, may choose
to live in a retirement home. This
is a facility giving the retired
person some degree of freedom,
yet with close-by medical
assistance to handle emergencies.
 What to Expect After Retirement

 When you are finally there after having

finished your teaching career, you will feel
you have definitely earned your retirement.
The excitement and work involved in the
process will be behind you, the dust will
have settled and the rest of your life will be
in front of you. It can be the most exciting
and challenging time of all.
 With that in mind many teachers
begin to make plans before they
retire to build on successes in the
classroom and move into new
employment opportunities.
 Many people may want to go
back to earlier dreams and try to
make them a reality by
expanding their skills and trying
out a whole new field
 Decide When to Retire
 A secure, comfortable retirement is every
worker's dream. And now because we're
living longer, healthier lives, we can
expect to spend more time in retirement
than our ancestors did. Achieving the
dream of a secure, comfortable retirement
is much easier when you plan your
finances.
What stages can I expect to go through as
I adjust to my new retired life?

 Whenever one retires from the work world,

researchers have found that there are
definite stages that people go through as
they enter this new chapter in their lives.
These phases do not apply to everyone,
because retirement is experienced on an
individual basis but it is worth considering
what many people encounter.
ROBERT ATCHLEY (1985)

Proposed a model of retirement

that includes six phases.
1. Preretirement phase
The worker becomes aware that
retirement is approaching. In the years
prior to retirement, we save our money,
dream of things we want to do, and
generally prepare for this change in life.
• Honeymoon phase
It occurs immediately after the actual
event and is normally characterized
by enjoyment of one's free time.
Now the retiree can paint the
garage, garden, take a trip, and do
everything he or she has wanted to
do for years.
1. Disenchantment phase
The retiree begins to feel depressed
about life and the lack of things to
do. After the traveling, cleaning, and
doing the things most desired, the
person gets tired and bored.
4. Reorientation phase
Developing a more realistic
attitude toward effective use of time.
Here he or she reevaluates these
activities and makes some decisions
about what is most important.
5. Stability phase
The retirement routine is established
and enjoyed. Perhaps volunteer work,
visiting, or some other routine is
developed that keeps the retiree happy
and feeling important.
6. Terminal phase (end of retirement)
It occurs when illness or disability prevents the
retiree from actively caring for himself or herself.
Also happening more frequently is terminating
retirement due to employment. Because we are
retiring earlier than we used to, many people are
young and healthy enough to get another job,
thus terminating retirement, at least temporarily.
 Professional activity after
retirement (age)
 Exercising a professional activity after retirement
(age) is possible for the self-employed person or
assistant who
 has reached retirement age and does not yet
receive a pension
 has reached retirement age and receives a
retirement pension
 receives an early pension
 receives a survivorship pension
 Married Life After Retirement
 -- the day we retire.
And with it comes a
host of changes that
dramatically and often
tragically effect our
marriages.
Thanks