This book focuses on the meaning of retirement and how individuals andsocieties may approach it in the future. Crucial issues are raised about thebalance between work, leisure and care, which involves reconcilingpeople’s expectations and desires with the costs involved. At thestart of the 20th century only the privileged few could expect to retire andhave an income that would enable them to enjoy their retirement (Macnicol,1998). An age-related income was guaranteed in all OECD (Organisation forEconomic Cooperation and Development) nations during the 20th century andthe idea that older workers should have the right to retire was firmlyestablished in the popular consciousness. By the start of the 21st centurythe average age at which people exited the paid labour force – notquite the same as retirement, as we shall see later – was closer to60 than 65 (OECD, 1998a). Some ‘retirees’ are undoubtedlyforced to retire early due to illness, disability, pressure from employersor their spouse, or because they resign themselves to the reality of agediscrimination in the labour market. For others retirement and the idea oftime to do as they please is eagerly anticipated. Although the prospects forretirees in the 21st century might seem to be healthy there are some ominousand disturbing signs. In future it may only be those who have saved, or whohave contributed enough to a reliable fund, who can expect to retire.

Anthony Giddens, one of Britain’s best known and most widely quotedsociologists, has argued that the concept of retirement needs to bereconsidered, that the retirement age should be abolished and thatpensioners are the clearest example of welfare dependency that can be found(1998, pp 119-20). He is not alone, however, in wanting to radically rethinkthe concepts of ‘retirement’ and ‘pensioner’.The OECD (1998a, 1998b; Visco, 2001) has advocated major reforms that would,in effect, scrap the statutory age of retirement around the world. The USand Sweden are among a number of countries that have already introduced agraduated age of retirement, which means that younger people can expect toretire later than their predecessors. The British government is alsoconsidering whether “The very concept of ‘retirement’needs to be challenged” (PIU, 2000, p 47).