Australia: "Stubborn Streak" Keeps Older Workers Working?

According to an article by Cameron Stewart, as Australia gets greyer and the baby boomer generation enters its twilight years, jobs are not shifting as people once thought they would: "The grey-haired warriors are staying put in their jobs, shutting out younger wannabes and declaring that retirement is for wimps."

"The Prime Minister has set the example, he is leading the pack," says Allan McLean, director of the National Ageing Research Institute. "We now know that stopping work suddenly is bad for you. It can kill you."

Among other things, Stewart also cites the results of a survey of retirement intentions released early in 2006 by AXA Australia taht found that almost two-thirds of baby boomers are planning to have some form of paid job in their retirement years and that today's average retirement age of 59 is set to increase, with most people expecting to retire at 62 or older.

Source: The Australian"Retiring for wimps, say grey warriors" (August 21 2006)