Extending Working Life of the Ageing Population in Europe – Push and Pull Factors of Retirement

Abstract

Objectives: The main objectives of this study were to examine which factors might push ageing employers to early retirement in Europe, as well as the factors that might pull them to work longer and extend their working lives. The phenomenon of extending working lives is promoted by ageing population; declining birth rates and people living longer than before. In the primary research the objective was to compare the presence of the factors on older employees from three example countries from EU region (Finland, Italy and the United Kingdom).

Summary: First the main push and pull factors were identified from the literature conducted previously on this topic. Then a quantitative study was conducted to discover over 50-year-old employees’ work-related wellbeing. A questionnaire was created and deployed to people working in Finland, Italy and the UK. A convenience sample of n=65 was gathered, and results were combined with the literature.

Conclusions: The study discovered clear similarities between the push and pull factors that were identified from the literature, and the findings from primary research. The findings and the conceptual framework of this thesis might provide employers some insights on how to manage a wellbeing ageing workforce, and how to encourage them to extend their working lives. However, further research and a bigger sample could provide more insights and more relatable results on this topic.