Pre-retirement, retirement, and post-retirement: policy considerations and consequences

Purpose The purpose of this article is to expand the merely economic notion of phased retirement towards a holistic perspective. It builds on the logic that the process of ageing, if it does not run well, can negatively affect societal well-being, from public health to national productivity, as well as the intergenerational dimension of sustainable development and knowledge issues in all organizations. Design/methodology/approach The article analyses what needs to be done to prepare retirees to better cope with life after their contract has ended — whether by providing a facility to work part-time, training for self-employment, intensifying their pursuit of new digital capabilities, or through other engagements that facilitate “re-participation” in the workforce — and how public policies can best support these efforts. Findings It is widely acknowledged that all parties engaged in phase-out policies or similar post-retirement strategies — governments, employers, employees, and employee representatives — will gain from these initiatives. On the other hand, it has been argued that public retirement programs pay the elderly substantially more than the effect is worth. This must be carefully examined, as it may only apply to specific employment situations. Originality/value Much of existing literature on this theme is limited to policies and certain statistical evidence. This article expands the scope to explore the opportunities that phased retirement presents for the future of the retirees and how the benefits they receive can also benefit society. By combining practice and theory, this article serves as a valuable resource for both scholars and policymakers.