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Phased Retirement: Problems and Prospects

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  • Robert Hutchens

Abstract

As baby boomers near traditional retirement ages, many express an intent to work longer. But older workers often look for greater flexibility that would allow them more time for non-work activities. Not surprisingly then, the notion of phased retirement — where an older full-time worker remains with the same employer and gradually reduces work hours — has considerable appeal for employees. Phased retirement may help employers as well by allowing them to keep experienced and productive workers. This brief begins by exploring the potential benefits of phased retirement. The next section documents the extent of phased retirement in today’s workplace and describes the types of people who take it. The following section discusses the problems that employers face when arranging phased retirements. The brief concludes that, while rare today, phased retirement may become more popular in the future.

Suggested Citation

  • Robert Hutchens, 2007. "Phased Retirement: Problems and Prospects," Work Opportunity Briefs wob_8, Center for Retirement Research, revised Feb 2007.
    • Handle: RePEc:crr:crrwob:wob_8
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    File URL: http://crr.bc.edu/briefs/phased-retirement-problems-and-prospects/
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    References listed on IDEAS

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    1. Steven G. Allen & Robert L. Clark & Linda S. Ghent, 2004. "Phasing into Retirement," ILR Review, Cornell University, ILR School, vol. 58(1), pages 112-127, October.
    2. Joseph F. Quinn & Richard V. Burkhauser & Daniel A. Myers, 1990. "Passing the Torch: The Influence of Economic Incentives on Work and Retirement," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number pt, November.
    3. Steven G. Allen & Robert L. Clark & Linda S. Ghent, 2003. "Phasing Into Retirement," NBER Working Papers 9779, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Esteban Calvo & Kelly Haverstick & Steven A. Sass, 2007. "What Makes Retirees Happier: A Gradual or 'Cold Turkey' Retirement?," Working Papers, Center for Retirement Research at Boston College wp2007-18, Center for Retirement Research, revised Oct 2007.
    2. Leora Friedberg & Michael Owyang & Anthony Webb, 2008. "Identifying Local Differences in Retirement Patterns," Working Papers, Center for Retirement Research at Boston College wp2008-18, Center for Retirement Research, revised Dec 2008.

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    Keywords

    baby boomers; traditional retirement ages; older workers; phased retirement; potential benefits;
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