I. The average age of retirement has dropped throughout the 20th century.
A. Pension plans and social security have made it unnecessary for older individuals to work.
B. Contribution of retirees in terms of volunteerism and caregiving is equivalent to 12 million full-time jobs.
C. People are staying healthy to a much later age.
1. Most people are relatively healthy and robust well into their 60s and 70s, and many even older.
II. It is no longer believed that older people cannot learn new skills.
A. Older people have been found to be retrainable for new technologies just as readily as young people.
B. Older people are less likely to find employment in times of economic recession when preference of employment is given to younger workers.
1. In times of economic booms, the older individuals are more likely to find employment, and to be kept on longer.
C. Productive aging can be achieved in which older individuals are still able to produce goods and services, even if not compensated for them.
III. There are conflicting interests between the elderly and the young which prevent the elderly from working longer.
A. There is a culture lag which has not caught up with the idea that older people are valuable resources economically.
B. Some older people have things they would prefer to do other than working or volunteering.
1. The defective-institution hypothesis says that working conditions and the volunteer options are so bad older people often avoid both options.
C. There is institutional ageism in which there are unspoken rules and traditions that people retire at a certain age.
1. Many people are led to believe that they are not capable of doing much once they reach a certain age, and so should retire.
IV. Older individuals in reality have more time, more experience, and an added desire for achievement as they reach retirement age because they realize their remaining time on earth is limited.