Study: Many Want to Work in Retirement
Washington Post
April 26, 2006
Revising Retirement:
Attitudes Are Changing on Golden Years, Nest Eggs
Record
June 13, 2006
Hongkongers Willing to Save
for a Worry-Free Retirement
South China Morning Post
May 16, 2006
Canadians Positive on Retirement, But Not If Forced
Globe and Mail
April 28, 2006
Retirement Is Seen as Freedom, Says Survey
Trade Arabia
April 27, 2006
More Media
U.S. Print Coverage:
Akron Beacon Journal
June 11, 2006
Albuquerque Tribune
April 26, 2006
Bay City Times
May 1, 2006
Beaufort Gazette
April 27, 2006
Charlottesville Daily Progress
May 2, 2006
Chicago Tribune
June 11, 2006
Chicago Tribune
May 21, 2006
Claremore Daily Progress
April 27, 2006
Daily Freeman-Journal
April 27, 2006
Daily News
April 27, 2006
Florence Morning News
April 27, 2006
Fort Worth Star-Telegram
May 7, 2005
Grand Rapids Press
April 30, 2006
Great Falls Tribune
April 27, 2006
Harrison Daily Times
April 27, 2006
Huntington News
April 28, 2006
Kalamazoo Gazette
May 1, 2006
Ledger-Independent
April 28, 2006
Newsweek
June 19, 2006
Norfolk Daily News
April 27, 2006
North Platte Telegraph
April 27, 2006
Orlando Sentinel
May 21, 2006
Record
April 29, 1005
Record
June 13, 2006
Smart Investor
June 2006
South Florida Sun-Sentinel
May 24, 2006
Transcript
April 27, 2006
USA Today
June 25, 2006
International Print Coverage:
Australia
Age (Melbourne)
May 3, 2006
Brazil
Carta Capital
May 10, 2006
Consumidor Moderno
April 27, 2006
DCI
April 27, 2006
Diário de S. Paulo
May 21, 2006
Exame
May 5, 2006
Extra
April 27, 2006
Folha de S.Paulo
April 26, 2006
Gazeta Mercantil
April 27, 2006
O Estado de São Paulo
May 1, 2006
Revista Cobertura Mercado de Seguros
May 24, 2006
Valor Economico
May 3, 2006
Canada
Advisor’s Edge
June 2006
Advisor’s Edge
June 2006
Benefits & Pensions Monitor
May 1, 2006
Canadian HR reporter
June 2006
Globe and Mail
April 28, 2006
National Post
April 24, 2006
Chile
Business News Americas
May 9, 2006
France
20 Minutes
April 27, 2006
20 Minutes
April 28, 2006
Affiches Parisiennes et Départementales
May 18, 2006
Aujourd’hui en France / Le Parisien
April 27, 2006
Courrier International
June 2006
Entreprise et Carrières
May 2, 2006
Espace Social Européen
May 12, 2006
Gestion Sociale
May 12, 2006
Gestion Sociale
May 16, 2006
Indicateur Bertrand Paris-Banlieue
June 2006
Investir Magazine
June 9, 2006
L’AGEFI Hebdo
May 5, 2006
L’Alsace
April 27, 2006
L’ECHO
April 27, 2006
La Croix
May 22, 2006
La Tribune
April 27, 2006
La Vie Financière
June 2006
Le Figaro
April 27, 2006
Le Figaro
April 27, 2006
Le Monde supplément Economie
May 10, 2006
Le Monde
May 2, 2006
Le Revenu Placements
June 2006
Metro
April 27, 2006
Nice Matin
April 27, 2006
Nice Matin
April 27, 2006
Nice Matin
April 27, 2006
Nice Matin
May 15, 2006
Ouest France
April 27, 2006
Ouest France
April 27, 2006
Ouest France
April 27, 2006
Ressources Humaines & Management
June 2006
Var Matin
May 15, 2006
Westfall Weekly News
April 28, 2006
Hong Kong
Apple Daily
May 16, 2006
HK Commercial Daily
May 16, 2006
HK Daily News
May 16, 2006
HK Economic Journal
May 16, 2006
HK Economic Times
May 15, 2006
Metro
May 16, 2006
Oriental Daily News
May 16, 2006
Sing Pao Daily News
May 16, 2006
Sing Tao Daily
May 16, 2006
South China Morning Post
May 16, 2006
South China Morning Post
May 5, 2006
The Standard
May 16, 2006
Japan
Asahi Shimbun Evening Edition
May 17, 2006
Hoken Mainichi Shimbun
May 2, 2006
Mainichi Shimbun
May 5, 2006
Korea
Financial News
April 27, 2006
Maeil Business Newspaper
May 6, 2006
Yonhap Infomax
April 27, 2006
Malta
Independent
May 16, 2006
Malta Independent
June 18, 2006
Malta Today
May 14, 2006
Nazzjon
May 15, 2006
Sunday Times
May 14, 2006
Mexico
Crónica de Baja California
May 8,2006
Diario Monitor
April 27, 2006
Economista
May 3, 2006
El Economista
April 27, 2006
El Financiero
April 27, 2006
El Financiero
April 27, 2006
El Financiero
May 8,2006
El Occidental
May 18, 2006
El Regio
June 1, 2006
El Universal
April 27, 2006
El Universal
May 15,2006
Excélsior
April 27, 2006
Imagen de Veracruz
June 1, 2006
La Jornada
April 27, 2006
Milenio
May 8,2006
Milenio Diario
April 27, 2006
Milenio, Público de Guadalajara and Diario de Monterrey
May 1, 2006
Notipharma
May 1,2006
Público de Guadalajara
May 22, 2006
Vallarta Opina
May 8,2006
Qatar
The Peninsula
April 27, 2006
Singapore
Business Times
April 27, 2006
Business Times
June 7, 2006
Business Times
May 17, 2006
Business Times
May 24, 2006
Business Times
May 31, 2006
Inside Golf
June 2006
Lianhe Zaobao
May 1, 2006
Marketing Magazine
June 2006
Orient Magazine
June 2006
Smart Investor
June 2006
Smart Investor
June 2006
Straits Times
April 27, 2006
Straits Times
April 28, 2006
Straits Times
June 14, 2006
Today
July 6, 2006
South Africa
Financial Mail
May 5, 2006
UAE
Khaleej Times
April 29, 2006
United Kingdom
Bank Marketing International
June 2006
Birmingham Post
May 1, 2006
Bristol Evening Post
April 27, 2006
Choice Magazine
June 16, 2006
Citizen
May 9, 2006
City AM.
April 27, 2006
Daily Express
April 27, 2006
Daily Express
April 27, 2006
Daily Star
April 27, 2006
Daily Telegraph
April 27, 2006
Daily Telegraph
April 27, 2006
EPN
May 5, 2006
EPN
May 8, 2006
Financial Adviser
May 3, 2006
Financial Times
April 27, 2006
Financial Times
April 27, 2006
Financial Times
May 20, 2006
Global Investor
June 2006
Global Pensions Online
April 27, 2006
Guardian
April 27, 2006
Guardian
April 29, 2006
Herald
May 9, 2006
Independent
April 29, 2006
Management Issues
April 27, 2006
Money Marketing online
May 11, 2006
Money Marketing
June 2006
Money Observer
June 2006
Observer
April 30, 2006
Pensions Age
May 2006
Pensions Week
May 1, 2006
Pensions Week
May 17, 2006
Pensions World
June 20065
PersonnelToday.com
April 28, 2006
Professional Pensions
June 2006
South Wales Evening Post
May 3, 2006
Scotsman
April 27, 2006
Sunday Times
May 21, 2006
Times
April 27, 2006
Times
April 27, 2006
Times
April 5, 2006
Western Mail
April 24, 2006
The Future of Retirement II: What the World Wants
Building on the success of the Future of Retirement Study completed in 2005, Age Wave and HSBC collaborated in 2006 to expand the results of the study, both geographically and in the demographics of the people interviewed. This was the largest global survey into attitudes toward aging and retirement ever conducted. The study surveyed 21,000 people and 6,000 companies in 20 countries and territories and revealed some surprising new findings in a variety of focus areas, including:
- Retirement is being redefined. Rather than a time to “disappear” or “withdraw,” the new definition of retirement is to remain active and engaged. In the HSBC Future of Retirement: What the World Wants survey, few participants said they associate retirement with “the beginning of the end.” Instead, increasing numbers of people view retirement as a continuation of what life was or even as an opportunity for a new chapter in life, and, overwhelmingly, people have positive views of retirement. This shift in attitude reflects a global redefinition of retirement from a period of “rest” in the 1940s and 1950s, to “reward” in the 1970s to a “right” by the 1980s, to an entirely new model of “reinvention” today.
- There is more than one key to happiness in later life. All around the world, respondents said that family, friends, and fitness define the quality of later life, not necessarily money. But the definition of happiness does vary somewhat from country to country. In some regions, staying young at heart is viewed as the key to happiness, while for others having a strong religious faith is a priority. Moreover, we have found—surprisingly—that elders worldwide are less fearful and more optimistic than their younger cohorts about the potential of later life.
- The value of older workers must not be overlooked. Over the past several decades, labor force participation among those age 60 and over has substantially lessened. In an era of declining fertility rates and global population aging, companies will have to find new ways to tap into the resource of older workers in order to remain competitive. In fact, the HSBC Future of Retirement survey results reveal that older workers are actually valued as more reliable and loyal and just as productive and motivated as younger workers. Moreover, both employers and employees around the world reject mandatory retirement based on age.
- Employers must adapt and provide new flexibilities. People in almost every country would prefer to keep working in some fashion during retirement. However, this rarely means working full-time at the same job. Instead, people are looking for flexible arrangements, such as part-time work or even alternating between periods of work and leisure in later life. Moreover, for many, nonmonetary rewards—such as stimulating work, the ability to continue learning, or the opportunity to teach younger workers—are often viewed as more important than financial compensation. Nonetheless, many companies do not offer the flexibility or nonfinancial rewards older workers are seeking. Our research and studies have identified pioneering, effective programs and strategies to attract, retain, and motivate an ageing workforce, including phased retirement, part-time work, bridge careers, retraining, sabbaticals, and mentoring programs.
- Who will pay for the costs of increasing longevity? While there will certainly be continued reliance on family, employers, and governments, the majority of people around the world are recognizing they will need to take more personal responsibility for planning and preparing for their financial needs and goals in their retirement years. However, though individuals want to be self-sufficient in their retirement years, they also want governments to do more to help them help themselves. When given the choice, respondents in almost every country chose enforcement of additional private savings over other options to help finance and support aging populations, such as increasing retirement age, reducing pensions, and raising taxes.
For more on the results of this study, please visit www.thefutureofretirement.com