The whole context of old age is being transformed

The following is an extract of an interesting article on changes in the context of old age, based on an international survey released recently.

Society must adapt to change in retirees

Retirees have changed and their exploding numbers require that both society and businesses evolve. That is the conclusion based on results from the AXA Retirement Scope.

The AXA Retirement Scope is an international survey with the objective of exploring and understanding the attitudes of the population towards retirement and compare its image to its reality. The sample is made up of more than 18,000 retirees and the survey was carried out in 26 countries.

The survey found that the whole context of old age is being transformed and society should fully recognize and actively seek and facilitate the contribution of these "young" retirees. Businesses will also want to understand the new context in order to adapt their products and services as well as their way of doing business.

In the past, retirement meant the beginning of old age. Today, it is the loss of autonomy or illness that heralds this beginning. Canadian retirees can now expect to enjoy 21 years of retirement before turning old... at 79!

A consensus remains: the social role of retirees is to transfer knowledge and skills. A supporting role in caring for the children also continues to be universally recognized.

58% of active Canadians would like to pursue a remunerated activity after retirement. The message is clear: working beyond the retirement age is fine, but it should remain a personal, not a forced decision. Interestingly, 92% of retirees consider themselves able to provide quality work. It will be up to employers to tap into this rich source of experienced workers, although at the cost of offering more flexibility.

Increased life expectancy will most probably force retirees to care for their aged parents: the fastest growing population segment in the world today is that of the 85 and older!