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  • Essay / The advantages and disadvantages of retirement - 721

    In recent years, the Canadian government has imposed the cessation of compulsory retirement. Lifestyles have changed, lifespans have increased and experience is essential in today's world. Statistics show that individuals want to continue working after age sixty-five and continue to contribute while being able, as education has a significant impact on the willingness to retire. Factors such as demographics, lifestyles and the financial market have pushed the retirement age back in recent years. Ending RetirementIn recent years, individuals and businesses have noticed that retirement age is becoming an issue. Individuals did not have the desire, or even the financial support, to leave their businesses at sixty-five. Freedom 55 became less of a reality and more of a nightmare for Canadians. In December 2006, the Canadian government decided to end the mandatory retirement age. “Before mandatory retirement rules were changed in Canada, an employer could step in and say 'you're over 65, clean your office' (CBC News Business, 2009). Traditionally, companies have focused on cutting costs and hiring new employees with new ideas, but they have never valued experience, knowledge and relationships. “People today are living longer and leading more active lives” (CBC News Business, 2009). Individuals have the desire and need to work after age sixty-five. The qualities that the baby boom generation brings to organizations weigh heavily on the costs of