Abstract
Sixty-five is the mandatory retirement age for civilian employees in the Philippines. Early this year, the optional retirement age was lowered from sixty to fifty-four years by the House of Representatives. This study aims to determine whether older Filipinos prefer early or late retirement based on identified predictors, i.e., individual attributes, family-related considerations, work environment, and socioeconomic context. Determining the reasons for employees to remain longer in the workforce will guide policymakers in retaining older employees and promoting age inclusion. The seventy participants from the academe represent the faculty, research extension and professional staff, and administrative staff aged fifty years and older as of 30 June 2020. Cross-tabulation was employed between the preferred retirement age and the predictors, with the Chi-square test of independence used to measure their association. The resulting p-value was tested at 5 percent and 10 percent levels of significance. The older employees’ mean preferred retirement age is 63.8 years (ranging from fifty-seven to seventy-one years). Sixty-six percent prefer late retirement (at sixty-five years and older) while 34 percent prefer early retirement (or younger than sixty-five years). Career development programs and recognition practices significantly affect preferred retirement age. Late retirement is preferred when career development programs like training on written and spoken communication, research skills, and creative design, as well as longevity and loyalty awards as recognition practices are available. Investing in career development programs and recognition awards motivates older employees to retire later and provides them the opportunity to age healthily.
Author Information
Jamila Dee A. Baluscang, University of the Philippines Manila, Philippines
Mary Ann J. Ladia, University of the Philippines Manila, Philippines
Paper Information
Conference: EGen2023
Stream: Public Policy
This paper is part of the EGen2023 Conference Proceedings (View)
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To cite this article:
Baluscang J., & Ladia M. (2023) Predictors of Preferred Retirement Age Among Filipino Older Employees in the Academe ISSN: 2435-4937 The European Conference on Aging & Gerontology 2023: Official Conference Proceedings https://doi.org/10.22492/issn.2435-4937.2023.11
To link to this article: https://doi.org/10.22492/issn.2435-4937.2023.11
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