Happier Oldsters, Richer Youngsters?
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Could older workers be induced to stay in the labor force longer, helping to forestall problems in the nation’s pension systems? That’s the question over at the Freakonomics blog, where they highlight this paper [PDF] showing that more flexible workplaces keep older workers working longer. If older workers eased into retirement more slowly at flexible workplaces, some of the pension burden could be lifted off younger workers as the Boomers retire. Plus, it would be beneficial to keep older workers and their skills and knowledge around.
Of course, this would cut against the real original purpose of Social Security: pushing old people into retirement to open up jobs for younger people.
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Inre “Happier Oldsters, Richer Youngsters” – I think that is an excellent plan – unless you live in California where a whole slew of government employees retire with astronomical pensions and are then free to be hired as consultants for same agencies at equally astronomical salaries – one retired city manager of Anaheim pulls in over $400,000 a year doing this .