How are psychosocial factors related to retirement intentions?

Abstract

Purpose – This study aims to explore the psycho-social factors (i.e. older worker identity, development opportunities on the job, anticipation of lost social integration upon retirement) related to three types of retirement intention (i.e. full retirement, part-time retirement, job mobility). Design/methodology/approach – A representative sample of 196 workers aged 50 and over employed in an Italian public-sector organization completed a research questionnaire. Hypotheses were tested by using structural equation models. Findings – The results showed that: the older-worker identity was related positively to full retirement intention and negatively to job mobility; development opportunity on the job was negatively related to the full retirement intention; the anticipation of lost social integration upon retirement was positively related to the intention to take part-time retirement and job mobility. Research limitations/implications – There are several limitations to the study: the cross-sectional design; use of single items; the fact that the findings can be generalized only to the organization in which the study was conducted. Practical implications – Retirement preparation programs should consider the various factors that affect the transition from work to retirement and which may facilitate prior planning by both the individual and the organization. Originality/value – Expanding previous research studies, the study considers the complexity of preparation for retirement transition by exploring different types of retirement intentions and the psychosocial factors related to them.