Donna Kastner: Phased Retirement—on Easing Your Way Out
Donna Kastner at Retirepreneur covers the trend of phased retirement in her latest video update. It’s a trend that’s catching on with companies who are looking to retain their workforce and to accommodate workers who are looking for ways to ease their way out of the workforce and into retirement.
From CNBC: How to gauge your chances of a phased retirement
- 81 percent of employers say they support employees planning to work past age 65, according to the TransAmerica Center for Retirement Studies.
- Less than a third of companies allow workers to transition from full-time to part-time work.
Four in five companies say they support employees working into their 60s and older, and 71 percent say they are “aging friendly.” Yet workplace policies show a less promising picture for aging workers, said Catherine Collinson, president of the Transamerica Center for Retirement Studies.
While many companies say they are age friendly, it doesn’t always translate into policies. The companies consider the conversations could lead to liabilities of age discrimination.
From AARP: Downshifting the Daily Grind: How to negotiate a phased retirement
“As people live longer and in good health, retirement is becoming a more active life stage, with more people looking for the opportunity to combine work and leisure,” says Catherine Collinson, president of the Transamerica Center for Retirement Studies. “Many workers have retired the notion of fully retiring at age 60 or 65.”
While this is the case for many, starting the conversation in your workplace requires some maneuvering and planning.
Here are some tips from the article:
1. Talk to coworkers.
2. Be clear about your vision.
3. Outline your exact duties in the new arrangement.
4. Set a salary expectation.
5. Expand your definition of “phased retirement.”
6. Solve special problems.
7. Use mentoring as a bargaining chip.
8. Start the conversation.
9. Create regular checkpoints.
Donna Kastner is on a mission to help others get a jumpstart on mapping out their encore career plan. From short talks to interactive workshops, she’s delivering the learning and networking experiences this crowd craves.
Find out more at Retirepreneur.com
