Phasing into Retirement

June 2005
Journal of Financial Planning;Jun2005, Vol. 18 Issue 6, p19
Academic Journal
The article focuses on a survey about phased retirement program in the U.S. A substantial percentage of workers would remain in the workforce longer if they could phase into their retirement. According to a survey by the American Association of Retired Persons, 38 percent of all workers ages 50 and older said they would be interested in participating in a phased retirement program, with some reservations. Yet only one in five had even heard the term phased retirement before it was presented to them in the survey. Based from the result of the survey: 78 percent of those interested in phased retirement said such a plan would encourage them to work past their expected retirement age; 61 is the average age workers would like to start a phased retirement; 53 percent would want to reduce their weekly schedule by 12 hours or more; and 33 percent of current retirees said they would have worked longer if such a plan had been available to them. Those interested in a phased retirement program had one big concern: whether it would reduce their final pension benefits. It it did, they said forget it.


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