1. INTRODUCTION:
1.1. Aim:
The aim behind conducting the research is to study the life style of the retirees in Melbourne. The reason behind writing this report and conducting the study is to raise the awareness about the problems faced by the retirees and how they get to live after their retirement. The report will also states the importance of planning before the retirement age for the retired life. The report is written for the minister of [please complete the sentence]
1.2. Background:
After retirement, mostly people live alone with their partners, live as senior of the family or as the grandparents. Some of them move to the retirement villages in order to fulfill their daily basic requirements in the limited resources. According to the law, employers have to make contribution towards the retirement of the employees and this is done by contributing almost 9.5% of the employee’s salary into the superannuation fund [1]. This law is applicable for every employee whose age is 18 to 70 and is working for more than 30 hours per week. Individuals can also fund for their superannuation in order to secure their retired life. Superannuation fund can only be withdrawn after the age of 55 and for this there is a strict legislation. It can be withdrawn as lump sum or in the form of the pension [2]. According to the research, mostly men live 18.5 years after their retirements and mostly women live over 23 years after retirement whereas their superannuation funds last for almost 10 years of their retirement age [3]. That is why, now authorities are trying to increase the age of retirement so that people get to work a bit longer as organizations give preference to the young employees and do not want to hire the old minds.
It is said that after the retirement mostly people become depressed because of losing their everyday work routine. According to a research, retirees have to come across the serious relationship issues and this leads them to health issues [4].
The report is basically about retirees who face such difficulties and for the government to get awareness of the problem which come over after getting retired. The importance of this report cannot be neglected because now retirees are the big part of our society and sooner or later everyone has to reach at that point where he will become a victim to these problems. This report will provide the important statistics regarding the retirement reasons and other factors affecting the retirement decision.
(Bendick, Brown & Wall, 1999). A new awareness of older workers has emerged as retiring
The Ministry of Social Development, 2008. Office for Senior Citizens the Ministry of Social Development Highlights from the Positive Ageing Strategy Annual Report 2001/2008 and Action Plan 2008/2010
The older adult population consists of people 65 and older (Miller, & Stoeckel, 2011). Depression is greater in women than men, however, the cause is unknown (Public Health Agency of Canada, 2010). Both, males and females who have been previously depressed or have a biological relative with depression, have an increased risk of depression (Public Health Agency of Canada, 2010). Seniors in long-term care facilities have a higher rate of being diagnosed with depression (14-42%) than those who continue to live within the community (1%-5%), therefore, levels of diagnosed depression fluctuate depending on location of residence (Public Health Agency of Canada, 2010). A recent Canadian study shows 44% of older adults living in residential care have been diagnosed with depression or have symptoms of depression (Public Health Agency of Canada, 2010). Depression can cause higher mortality rates, even when supplementary risk factors are considered, however, the reasons are not entirely understood (Public Health Agency of Canada, 2010). Studies have shown that older adults with depression are one and a half to two times more likely to pass on than those without depression (Public Health Agency of Canada, 2010).
Only 23% of well-off retirees and 16% of all retirees polled are working today.Affluent nonretirees estimate they'll need only 53% of their pre-retirement income to support their retirement lifestyles. But well-off retirees say they actually require fully 71%. Fully 25% of affluent nonretirees think it's likely they will run out of money before they die vs. only 12% of well-off retirees.Affluent retirees single biggest regret is failing to put more money in tax-deferred retirees said they invested the maximum the law permits, compared with only 48% of the affluent nonretirees polled.Strategies1.
Aging and old age for a long time presented as dominated by negative traits and states such as sickness, depression and isolation. The aging process is not simply senescence most people over the age of 65 are not Senile, bedridden, isolated, or suicidal (Aldwin & Levenson, 1994). This change in perspective led the investigation of the other side of the coin. Ageing is seen as health, maturity and personal Royal growth, self-acceptance, happiness, generatively, coping and acceptance of age-related constraints (Birren & Fisher, 1995). Psychological und...
When the project analyzing about age discrimination, it could not proceed without mentioning about the social economic status and retirement policies. Because of the employment market will be always influenced by economy and government’s strategic incentives such as social security policy, and medical care policy.
In the Philippines, the ages to be considered a senior citizen are those who are aged 60 years old and over. The senior citizens made up 6.8 percent of the 92.1 million household populations in 2010, higher than the 6.0 percent recorded in 2000 and the number reached over six million in 2011 and it is seen to double in 16 years. The number of people 60 years old and above, or those considered as senior citizens, has increased, as the country's household population increases. With the growing number of senior citizens, there is a generalized notion associated with senior citizens such as degeneration and decline of health and well being but on the contrary, most of them are still active and productive, performing significant roles at home and
Late adulthood should be a time in a person's life where they feel fulfilled. They can look back on their memories and be happy with the way they have lived their life. Now, too many elderly people are not satisfied and look at this stage as depressing. Most fear death of either a loved one or for themselves. This topic is interesting to me because elderly people should make the best of their last stage of life. This topic discusses about getting older, the life changes that they go through physically, emotionally, and mentally. We should know more about it so that we can help our family and friends get through one of the best, yet toughest part of our mortal life.
The basis of this essay was to state the reasons why I think the aging
As you grow older, the urge of having a career, a stable employment which can provide for you and your love’s one is really salient. Nonetheless as age decreased and you getting in your old age it become to a point where one’s needs to end working and start his retirement; which is the action of ceasing to work. However what seems to be a natural process long time ago is now turning around as people start to realize the negative effects of it. Although it affects your marriage, financial, physical, and also your mental health for some, the question is if they have a crucial age for someone to retire? The answer is no and people should have the liberty to pursued a normal life as much as the can; Furthermore participate in constant activities an individual is keeping is body and mind alive.
Sociology is distinguished by the study of sociology theories, which play a significant key role in enabling us to analyze different societies. Sociology theories give us different outlooks different perspectives within factors of different societies that can be analyzed. This will make it easier for someone to understand and predict social behavior and happenings within societies that offer great importance to our generation. This author will focus on sociologist concepts that are related to the videos for our assignments and factors that have been put into consideration including: aging, discrimination and social theories with an increase in the size of the older population in relation to the younger generation. These videos in relating to aging, discrimination and social satisfaction I am going to analyze the findings that were a result in which will give an analytical detail of aging.
Retirement is one of the most important crossroads we face in life. It involves a fundamental change in lifestyle, one that calls for a totally new outlook on how we approach each day. All our lives we have been conditioned to think in terms of saving for our retirement years. Society has created this mystique about this time in our lives when we magically transform into different people with different lives when really we are the same people with different day to day lives. According to Medina, (2012) planning for retirement isn’t a "walk in the park" because for many people, debts are high while income is low.
One of the mental health issues that affects older adults is depression. The article “Aging and depression” published in the American Psychological Association discusses the affect that depression has on the older person. It discusses some possible causes of depression in the older adult and the resulting effects such as insomnia or memory loss. As the average age of individuals in our society increases so too will the incidence of late-life depression. This article summarizes the impact that depression has on older adults as well as the recognition and assessment of depression within this group.
Retirement can mean slowing down from your busy lifestyle to begin a more relaxing lifestyle. To me retirement means to enjoy all the things you worked hard for and to have but have yet to be able to enjoy. How people feel about or accept retirement can also differ from person to person. Life after retirement is dreadful for some, because of the uncertainty as to what retirement has to offer them. While for others it is an opportunity for leisure activities and to explore both old and new hobbies. I believe that every individual is different and unique. The intent of this paper is to show how two people of different genders view
Lots of working people are scared when comes planning for their retirement day, as well as there are some of them are confident to face theirs restful years. This people who fear with their retired age are the person whose are lack of knowledge about financial matters so they will ignore their planning for retirement as long as they can. The effect is, they will try to continue to work as long as they can work. Recently, the Ministry of Human Resource’s Malaysia, increase the retirement age to 60 years old for government sectors. As Hunt (2009) state that Malaysian confident for their retirement have decrease rapidly in some way. According to Lai Cheng Tung & Jean Dennis Comeau (2012) the people who agree with the new retirement age as they claim that they required more retirement savings, increasing retirement age will increase the life expectancy, and this provide retention of talent or improving skill proficiency especially in expert job that need longer years of experience to master it. To support more agreeableness in increasing retirement age, based from Life Insurance Association of Malaysia (LIAM), 5% and less than that percent are prepared completely for their retirement (Habib, 2007). All of the statement showed that Malaysian are still good enough to continue working even most of them are lately around 60’s as a period for preparing themselves before retired.