Too Young To Retire From Work
Being Old Does Not Mean Being Unable To Work
A reader asks for advice on how NOT to retire.
Note - all letters are reprinted as received (typos and grammatical) but names and other identifying details are deleted.
Q. I'm getting close to retirement, but I do not want to retire. The company I have faithfully worked for has made comments to me about the retirement, but nothing really direct. They keep making allusions to finding a replacement, and it hurts. What can I do?
-Over 60
A. You don't mention what type of work or business you are in right now, and yes, that might make a difference. If you are in a physically demanding area, the company rightly may be concerned about your health and ability to continue your work.
Has the company approached you about any dates, or have those in charge just thrown out some odd comments here and there? It could be they are trying to see how you feel about the situation. Do you have a pension with them? What happens to the pension if and when you retire, or if you don't?
The worst thing is not knowing. So, set up a meeting with Human Resources and your immediate boss. Ask them up front if they have any plans for you retiring, and make it clear you really do not want to go. Ask them if perhaps there might be another option, one that will allow both company and you to be happy. For example, many people who are mandated to retire due to government regulations, do retire, but come back to the same company and work part time or contract. This saves the company money as they do not keep contributing to your pension, or health insurance, but get the added benefit of your long experience with the company.
Has no one else retired with your company in the past couple of years? Without knowing if your company is large with many outlets, or a small office, it is difficult to know if any precedents have been set, or if the company has ever considered hiring back retired employees.
Also, leaving one company does not mean you have to stay home or not work. If your company is unable to "rehire" you, consider working part time or contract for another company in the same field. Many companies would love to hire the more experienced workers, but cannot afford the salary. Part time or consulting gets around that potential barrier!
So, set up that meeting right away!
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Copyright March 19, 2008. Paym Bergson and Suite 101. All rights reserved. Any unauthorized use of this material will constitute an infringement of copyright.
