The Challenges and The Opportunities

8/14/2019 The Challenges and The Opportunities

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Retirement

By

SumaeraMahmood


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Definitions ofretirement

the state of being retired from one'sbusiness or occupation

withdrawal from your position oroccupation

withdrawal for prayer and study and

meditation; "the religious retreat is a formof vacation activity"


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Late Adulthood

Late Adulthood is the termcoined by developmental

psychologists describing theperiod in an individual's lifebeginning at ages sixty or seventyand ending at death. This life

period, like any other, is one of

continuing change andadjustment both in the physicaland the psychosocial realms.


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Retirement age

In most countries, the ideaof a fixed retirement age isof recent origin, beingintroduced during the 19thand 20th centuries - beforethen, the absence of pensionarrangements meant thatmost workers had tocontinue to work until death,

or rely on the support offamily or friends..


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Retirement age for teachers in France is

thirty years after employment and age50 for train engineers [2] on the SNCF,

the national railway. Policeman and

soldier in the United States are typically

allowed to retire at half pay after only20 years of service or three-quarter pay

after 30 years, allowing people in their

early forties or fifties to retire.

Many scientists, lawyers, TV

anchormen and professors still work

well into their 70s.
http://en.wikipedia.org/wiki/Francehttp://www.eiro.eurofound.eu.int/1997/02/feature/fr9702106f.htmlhttp://en.wikipedia.org/wiki/SNCFhttp://en.wikipedia.org/wiki/SNCFhttp://www.eiro.eurofound.eu.int/1997/02/feature/fr9702106f.htmlhttp://en.wikipedia.org/wiki/France


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Decide When to Retire

A secure, comfortable retirement is every

worker's dream. And now because we're

living longer, healthier lives, we canexpect to spend more time in retirement

than our ancestors did. Achieving the

dream of a secure, comfortable retirementis much easier when you plan your

finances.


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The Challenges and TheThe Challenges and The

OpportunitiesOpportunities

By sumaera mehmood


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Late adulthood is a time of relinquishing some roles and

adopting new ones.

Many seek full retirement, others shift their work

roles to accommodate their changing ideas and

schedules. Some become caregivers to ill spousesor aging family members. Some may lose their

role as spouse, and some begin dating again. For

many,

being a grandparent is a new and challenging. Regardless of the life changes, late adulthood is

a time of continued development and enjoyment.
http://www.mc.maricopa.edu/dept/d46/psy/dev/Spring00/lateadult/grandparent.htmlhttp://www.mc.maricopa.edu/dept/d46/psy/dev/Spring00/lateadult/grandparent.html


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At present time

Nowadays most developed nations have systemsto provide pensions on retirement in old age,which may be sponsored by employers or thestate. In many poorer countries, support for theold is still mainly provided through the family.

The retirement age varies from country tocountry but it is generally between 55 and 70. Insome countries this age is different for male andfemales. Sometimes certain jobs, the mostdangerous or fatiguing ones in particular, have anearlier retirement age.
http://en.wikipedia.org/wiki/Old_agehttp://en.wikipedia.org/wiki/Mandatory_retirement_agehttp://en.wikipedia.org/wiki/Mandatory_retirement_agehttp://en.wikipedia.org/wiki/Old_age


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Support and funds Retired workers then support

themselves either throughsuperannuation,pensions, or savings. Inmost cases the money is provided by thegovernment, but sometimes granted

only by private subscriptions tomutual funds. In this latter case,subscriptions might be compulsory orvoluntary. In some countries an

additional "bonus" is granted unatantum (once only) in proportion to theyears of work and the average wages;this is usually provided by the

employer.
http://en.wikipedia.org/wiki/Superannuationhttp://en.wikipedia.org/wiki/Pensionhttp://en.wikipedia.org/wiki/Mutual_fundshttp://en.wikipedia.org/wiki/Mutual_fundshttp://en.wikipedia.org/wiki/Pensionhttp://en.wikipedia.org/wiki/Superannuation


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The cost of health

The cost of health care in retirement islarge, because people tend to be illmore frequently in later life.Increasing numbers of older people,combined with an increase in the costof healthcare, has led to the funding of

post-retirement health care becoming a

political issue. There is then pressureto reform healthcare systems tocontain costs, or find new sources offunding.


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Life after Retirement

Retirement might coincide withimportant life changes; a retiredworker might move to a new location,for example a specialisedretirement village, thereby having lessfrequent contact with their previoussocial context.

In some countries, retired workers willcontinue to participate in the life oftheir family and their society, often

following ancient ethnic roles. Somecountries are sponsoring initiatives tohelp retired workers keep contributingto social and cultural life.
http://en.wikipedia.org/wiki/Retirement_villagehttp://en.wikipedia.org/wiki/Image:Retirement_home.jpghttp://en.wikipedia.org/wiki/Image:Retirement_home.jpghttp://en.wikipedia.org/wiki/Retirement_village


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later years of lives

Many people in the later years oftheir lives, due to failing health,require assistance, the highestdegree of assistance - in some

countries - being provided in anursing home. Those who needcare, but are not in need ofconstant assistance, may chooseto live in a retirement home. Thisis a facility giving the retired

person some degree of freedom,yet with close-by medicalassistance to handle emergencies.
http://en.wikipedia.org/wiki/Nursing_homehttp://en.wikipedia.org/wiki/Retirement_homehttp://en.wikipedia.org/wiki/Retirement_homehttp://en.wikipedia.org/wiki/Nursing_home


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What to Expect After Retirement

When you are finally there after having

finished your teaching career, you will feel

you have definitely earned your retirement.The excitement and work involved in the

process will be behind you, the dust will

have settled and the rest of your life will bein front of you. It can be the most exciting

and challenging time of all.


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With that in mind many teachers

begin to make plans before theyretire to build on successes in the

classroom and move into new

employment opportunities.

Many people may want to go

back to earlier dreams and try to

make them a reality by

expanding their skills and tryingout a whole new field


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Decide When to Retire

A secure, comfortable retirement is every

worker's dream. And now because we're

living longer, healthier lives, we canexpect to spend more time in retirement

than our ancestors did. Achieving the

dream of a secure, comfortable retirementis much easier when you plan your

finances.


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What stages can I expect to go through as

I adjust to my new retired life?

Whenever one retires from the work world,

researchers have found that there are

definite stages that people go through asthey enter this new chapter in their lives.

These phases do not apply to everyone,

because retirement is experienced on anindividual basis but it is worth considering

what many people encounter.


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ROBERT ATCHLEY (1985)

Proposed a model of retirement

that includes six phases.


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1. Preretirement phase

The worker becomes aware that

retirement is approaching. In the yearsprior to retirement, we save our money,dream of things we want to do, andgenerally prepare for this change in life.


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Honeymoon phase

It occurs immediately after the actual

event and is normally characterized

by enjoyment of one's free time.

Now the retiree can paint the

garage, garden, take a trip, and do

everything he or she has wanted to

do for years.


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1. Disenchantment phase

The retiree begins to feel depressed

about life and the lack of things todo. After the traveling, cleaning, anddoing the things most desired, the

person gets tired and bored.


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4. Reorientation phase

Developing a more realistic

attitude toward effective use of time.

Here he or she reevaluates these

activities and makes some decisionsabout what is most important.


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5.Stability phase

The retirement routine is established

and enjoyed. Perhaps volunteer work,visiting, or some other routine is

developed that keeps the retiree happyand feeling important.


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6. Terminal phase (end of retirement)

It occurs when illness or disability prevents the

retiree from actively caring for himself or herself.Also happening more frequently is terminating

retirement due to employment. Because we are

retiring earlier than we used to, many people are

young and healthy enough to get another job,

thus terminating retirement, at least temporarily.


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Professional activity after

retirement (age) Exercising a professional activity after retirement

(age) is possible for the self-employed person orassistant who

has reached retirement age and does not yetreceive a pension

has reached retirement age and receives a

retirement pension receives an early pension

receives a survivorship pension


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Married Life After Retirement

-- the day we retire.

And with it comes a

host of changes thatdramatically and often

tragically effect our

marriages.


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Thanks

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The Challenges and The Opportunities