DCU is a young university, and one of the consequences is that it has a younger community of staff. In my last job in the University of Hull I was Dean of a Faculty, and typically we would have retirement functions for members of staff four or five times a year. In DCU, for the entire university, I have attended fewer retirement functions (and I do attend them all) in ten years than I did for one Faculty in Hull during three years. But right now the generation of entrepreneurial and determined colleagues who were there when DCU admitted its first students, and most of whom have stayed extraordinarily loyal to the institution, is approaching retirement age, and some of them have already embarked upon this new phase of their lives. On one of the occasions when we were celebrating their...
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Those working on ageing as well as literacy may be interested to see how financial literacy affects the retirement decision.How Ordinary Consumers Make Complex Economic Decisions: Financial Literacy and Retirement Readiness Annamaria Lusardi, Olivia S. MitchellThis paper reports on several self-assessed and objective measures of financial literacy newly added to the American Life Panel (ALP), and it links these performance measures to efforts consumers make to plan for retirement. We evaluate the causal relationship between financial literacy and retirement planning by exploiting information about respondents’ financial knowledge acquired in school - before entering the labor market and certainly before starting to plan for retirement. Results show that those with more advanced...
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Again, the BBC carries a piece on the potential removal of the default retirement age. link here One of the age charities comments:"We all know about the problems this country faces with pensions, and the best way of solving that is to encourage people to work a few years longer. It's good news for employers and for the economy, for people to stay on in work into their sixties."The main employers groups calls the move...
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I happened to be watching some coverage of the European elections the other night (sad I know) when the name of Proinsias De Rossa was mentioned. It struck me that this lefty sticky has been around for as long as I can remember. I was sure that this old communist relic must be past retirement age by now so I did a bit of research to satisfy my curiosity. Sure enough Franky Sticky Ross is 69 years old. Now this got me annoyed. I know of a number of people who have recently reached the "mandatory" retirement age of 65 and been forced to quit jobs that they were perfectly willing and able to continue performing. However, as most contracts of employment in Ireland specify a retirement age of 65 or less, the ordinary men and women of this country are forced out of the workforce whether they...
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