Many Older Workers Would Prefer to Ease into Retirement - SHRM
This is the first of a two-part series published by SHRM - The Society for Human Resource Management
"Phased retirement is an employer-based program that allows older workers to reduce their working hours and transition into retirement. These programs may include a partial drawdown of funds from defined contribution or defined benefit retirement plans and continuing employer-sponsored health coverage."
'"Older workers may be tired of dealing with their current level of responsibility and are looking for less-stressful roles or roles that are project-based, where their schedules can be more flexible," said Sean Nehlsen, Cleveland-based regional managing director at OneDigital, an HR services provider.'
Phased retirements also can allow time for older workers to share their knowledge with other employees, Nehlsen said. "When employees announce that they're ready to retire, it's too late to do any transfer of knowledge," he noted, which is why forward-looking organizations are more likely than others to offer phased retirement opportunities."