Career Development International Psychosocial factors in retirement intentions and adjustment: a multi-sample study Gabriela Topa Carlos-María Alcover Article information: To cite this document: Gabriela Topa Carlos-María Alcover , (2015),"Psychosocial factors in retirement intentions and adjustment: a multi-sample study", Career Development International, Vol. 20 Iss 4 pp. 384 - 408 Permanent link to this document: http://dx.doi.org/10.1108/CDI-09-2014-0129 Downloaded on: 26 April 2016, At: 23:16 (PT) References: this document contains references to 76 other documents. To copy this document: [email protected]The fulltext of this document has been downloaded 492 times since 2015* Users who downloaded this article also downloaded: (2008),"Postponing job retirement?: Psychosocial influences on the preference for early or late retirement", Career Development International, Vol. 13 Iss 2 pp. 150-167 http:// dx.doi.org/10.1108/13620430810860558 (2010),"How are psychosocial factors related to retirement intentions?", International Journal of Manpower, Vol. 31 Iss 3 pp. 271-285 http://dx.doi.org/10.1108/01437721011050576 (2015),"Differential predictors of post-retirement life and work satisfaction", Journal of Managerial Psychology, Vol. 30 Iss 2 pp. 216-231 http://dx.doi.org/10.1108/JMP-08-2012-0250 Access to this document was granted through an Emerald subscription provided by All users group For Authors If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.com Emerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services. Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. *Related content and download information correct at time of download. Downloaded by 93.145.134.178 At 23:16 26 April 2016 (PT)
Transcript
Career Development InternationalPsychosocial factors in retirement intentions and adjustment a multi-samplestudyGabriela Topa Carlos-Mariacutea Alcover
Article informationTo cite this documentGabriela Topa Carlos-Mariacutea Alcover (2015)Psychosocial factors in retirement intentions andadjustment a multi-sample study Career Development International Vol 20 Iss 4 pp 384 - 408Permanent link to this documenthttpdxdoiorg101108CDI-09-2014-0129
Downloaded on 26 April 2016 At 2316 (PT)References this document contains references to 76 other documentsTo copy this document permissionsemeraldinsightcomThe fulltext of this document has been downloaded 492 times since 2015
Users who downloaded this article also downloaded(2008)Postponing job retirement Psychosocial influences on the preference for earlyor late retirement Career Development International Vol 13 Iss 2 pp 150-167 httpdxdoiorg10110813620430810860558(2010)How are psychosocial factors related to retirement intentions International Journal ofManpower Vol 31 Iss 3 pp 271-285 httpdxdoiorg10110801437721011050576(2015)Differential predictors of post-retirement life and work satisfaction Journal of ManagerialPsychology Vol 30 Iss 2 pp 216-231 httpdxdoiorg101108JMP-08-2012-0250
Access to this document was granted through an Emerald subscription provided by All users group
For AuthorsIf you would like to write for this or any other Emerald publication then please use our Emeraldfor Authors service information about how to choose which publication to write for and submissionguidelines are available for all Please visit wwwemeraldinsightcomauthors for more information
About Emerald wwwemeraldinsightcomEmerald is a global publisher linking research and practice to the benefit of society The companymanages a portfolio of more than 290 journals and over 2350 books and book series volumes aswell as providing an extensive range of online products and additional customer resources andservices
Emerald is both COUNTER 4 and TRANSFER compliant The organization is a partner of theCommittee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative fordigital archive preservation
Related content and download information correct at time of download
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Psychosocial factors inretirement intentions and
adjustment a multi-sample studyGabriela Topa
Department of Social and Organizational Psychology UNEDMadrid Spain and
Carlos-Mariacutea AlcoverDepartment of Psychology Rey Juan Carlos University Madrid Spain
AbstractPurpose ndash Retirement adjustment is the process by which aged workers become accustomed to thechanged facts of life in the transition from work to retirement and develop psychological well-being intheir post-working life The purpose of this paper is to explore the psychosocial factors that significantlyexplain retirement intentions and retirement adjustment using two separate empirical studiesDesignmethodologyapproach ndash Retirement self-efficacy low work involvement older workeridentity and relative deprivation significantly explained retirement intentions (bridge employmentengagement part-time retirement late retirement and full retirement) of workers over 60 years(Study 1 nfrac14 157) Retirement adjustment indices (retirement satisfaction feelings of anxiety anddepression) were associated with psychosocial factors for retirees (Study 2 nfrac14 218)Findings ndash The findings highlight that retirement self-efficacy and older worker identity positivelyand significantly explained both full retirement of aged workers and retirement satisfaction of retireesRelative deprivation negatively significantly explained partial and late retirement intentions andretirement satisfaction of retireesResearch limitationsimplications ndash The implications of these studies are discussed forunderstanding retirement planning and counselling practicePractical implications ndash Retirement adjustment conceptualized as a process has importantimplications for retirement planning and consequently can influence the project of the life course aswell as careerrsquos decisionsSocial implications ndash Social contexts should consider all factors that can negatively affectself-efficacy work involvement and identity of employees in the mid and late-career stages and thuscontribute to reinforce and strengthen personal and psychosocial resources involved in planning andadaptation to retirement and to increase the insight into the planning and decisions older workersmake to face retirementOriginalityvalue ndash This work had two goals pursued by two empirical studies with two samplesworkers over 60 years and retirees The authors contend that the availability of two different sets ofdata increases the generalizability of the findingsKeywords Retirement Structural equation modelling Well-being Retirement satisfactionTrajectoriesPaper type Research paper
The worldwide economic crisis the modification of labour legislation and specially theglobal process of aging in developed and developing countries (Phillips and Siu 2012)with the resulting delay in retirement age are some of the factors that have recentlyintroduced profound changes into the nature of retirement These global changepatterns have become retirement in an area of general transcendence that cansubstantially influence the sustainable economical and social development of countriesand societies around the world (Wang 2013) In the current socio-economic context the
Career Development InternationalVol 20 No 4 2015pp 384-408copyEmeraldGroup Publishing Limited1362-0436DOI 101108CDI-09-2014-0129
Received 26 September 2014Revised 1 April 201514 May 20153 June 2015Accepted 4 June 2015
The current issue and full text archive of this journal is available on Emerald Insight atwwwemeraldinsightcom1362-0436htm
384
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
life course and careers are less predictable and the experiences of transitions ndashvariable complex contingent ndash tend to characterize what was traditionally a well-defined stage within the life course and careers (Van der Heijden et al 2008) In thissense Elder and Johnson (2003) have proposed substituting the concept of trajectoryfor that of transitions to define peoplersquos labour-life course Today researchers agree toconceptualize retirement like as a process rather than a single event (Beehr andBennett 2007 Beehr and Bowling 2013) a complex process that can evolve over timeand can even take a variable period of years to be concluded (Shultz and Wang 2011)during which people must make a number of decisions about their participation in thelabor force (Dingemans and Henkens 2014) As such instead of viewing retirement as afull career exit it can be conceptualized as a late-career development stage thatrecognizes the continued potential for personal growth and redefinition of careers inpeoplersquos retirement life (Wang and Shi 2014 Wang and Shultz 2010)
Based on this approach some authors have therefore suggested that it is moreappropriate to conceptualize retirement as a process of adjustment (Wang 2007 Wangand Shi 2014) By adjustment we refer to the process by which retirees adapt to thechanges in their lives and reach a state of acceptable psychological well-being and comfortwith their retirement life (Van Solinge and Henkens 2008) when they managed potentialsignificant shifts in health finance and activity within the domains of home communityand work (Heskeths et al 2011) This approach emphasizes that it is not the decision toretire in itself the most important but rather the characteristics of the retirement transitionprocess embedded in this decision that are of most relevance (van Solinge and Henkens2008 Wang and Shi 2014) Wang et al (2011) have argued that retirement adjustmentis a process whose experience is contingent on the individual access to economicpsychological social and interpersonal resources and potential changes in these resourcesduring the retirement transition and retirement adaptation (Van Solinge 2013) Thisprogressive adaptation takes place in two scenarios First transition from work toretirement and second post-retirement trajectory (Wang and Shultz 2010)
When conceptualizing retirement as adjustment researchers preferably base this onthe life course theoretical perspective (Elder and Johnson 2003) This approach considersretirement as a transition within the life course and notes that peoplersquos history personalresources and context will affect the diverse pathways they choose and the outcomesthey eventually achieve The life course perspective explicitly locates life transitions inthe social contexts of other roles relations resources developmental processes andevents and personal history So it provides a promising general framework for the studyof the variety of paths in the retirement experience (Van Solinge 2013) Despite this factonly few works adopting this approach have related the stage of transition from work toretirement to post-retirement adjustment (Nuttman-Shwartz 2004 Theriault 1994)
Therefore we conducted two studies to analyse the process of adjustment(transition and post-transition development) and to assess the factors that significantlyexplain both retirement transition and retirement adjustment Study 1 examined theimpact of psychosocial factors on retirement intentions among workers over 60 yearsof age Study 2 investigated the impact of the same psychosocial factors on retirementadjustment using a sample of retirees
Factors predicting retirement transition and retirement adjustmentLife course perspective stated that people who have developed capacities that facilitatea smooth transition will be better prepared will engage in transition at the right timeand will achieve better outcomes Researchers in this field stated that retirement is a
385
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
concept referred to several distinct phenomena (Szinovacz 2003) so it is necessary toadopt a multilevel perspective (Szinovacz 2013) At least retirement should beconceived as a personal experience as a process and as societal institution As personalexperience retirement implies the necessity of different skills which allow the person tocope with multiple changes brought by retirement As a process retirement implicatesdecisions on work withdrawal And as a societal institution retirement influences bothexpectations that older workers should leave to provide job opportunities for youngerworkers and shared perceptions about the older persons as less competent andefficient This conceptualization of retirement allows us to conceived three spheres ofinfluences on retirement transition and adjustment personal variables retirementfactors and contextual factors (Szinovacz 2003) Among the personal variablespsychological resources influence the individualrsquos reactions to the changes associatedwith retirement stressing the relevance of agency in the retirement adjustment process(Van Solinge 2013) In this regard perhaps the most important is the sense of personalmastery or retirement self-efficacy Retirement self-efficacy is the belief that one hasthe knowledge and skills necessary to deal with the changes associated with retirement(Taylor-Carter and Cook 1995) and it has been developed through prior experiences todeal with other transitions A general premise hypothesized that positive levels ofretirement self-efficacy will enhance the positive effects of retirement planning ongeneral adaptation to retirement (Taylor and Schaffer 2013)
Most studies of retirement self-efficacy have analysed the relationships betweenretirement self-efficacy on the one hand and both retirement transition and adjustmenton the other hand (Fretz et al 1989 Harper 2005 Mutran et al 1997 Taylor and Shore1995 Van Solinge and Henkens 2005) Regarding the transition process retirementself-efficacy is likely to affect workersrsquo motivation to retire feelings about futureretirement and motivation to attempt the transition to retirement (Fretz et al 1989Taylor and Shore 1995) At the same time retirement self-efficacy is also likely to affectworkersrsquo efforts for a successful retirement transition their persistence whendifficulties arise their overall future successful retirement transition and satisfactionwith retirement (eg Bandura 1997 Bandura and Jourden 1991) Lastly concerningadjustment retirement self-efficacy influences feelings associated with retirementtransition and workersrsquo mental health (Fretz et al 1989) and that the effect of post-retirement planning on retirement adjustment is mediated by mastery or personalcontrol (Donaldson et al 2010)
Life course theory proposed that people who are less attached to their work are morelikely to deal better with the transition of exiting from work Work involvement hasbeen defined as a degree of attachment to onersquos current job or to work in general(Kanungo 1982) and it was negatively and strongly related to turnover intentions andto actual turnover (Griffeth et al 2000) Regarding retirement intentions to retire areaffected by work involvement specifically at late-career (Post et al 2013) and manyolder employees disengage more from work when getting closer to their plannedretirement age (Damman et al 2013)
Work involvement will affect peoplersquos desire to remain active (Taylor-Carter andCook 1995) Previous research have distinguished work involvement from jobinvolvement (Kanungo 1982) considering that the first is attachment to work ingeneral while the second is related but different Hence if people have attitudes of lowwork or job involvement their intention to quit will probably be high whereas theirintention to continue working ndash for example by means of bridge employment ndash will belower Likewise if people are less involved with their work or their job during their
386
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
occupational life they can be expected to adapt more easily to the new retirementsituation as work did not occupy a core position in their life prior to retirementNevertheless previous research has found inconsistent results for instance somestudies (Quick and Moen 1998 Reitzes and Mutran 2006) found that identification withthe work role positively impacted on adjustment for up to 24 months after theretirement event whereasWong and Earl (2009) found that work centrality was neitherrelated to retirement adjustment nor to post-retirement activity levels
The life course perspective also argues that the experience of transition will becontingent with the specific context surrounding the person Taking into account thataged workers ndash like everyone else ndash want to maintain a positive identity and becauseresearch would indicate that identification with working increases in importance withage (Baltes et al 2012) some authors proposed that the experience of unfavourabletreatment discrimination in career opportunities etc can lead to internalization ofnegative characteristics such as low motivation resistance to change and lack ofinterest or of creativity (Tougas et al 2004) According to these suggestions studieshave proposed the existence of older worker identity (Roberto and Biggan 2014 Urickand Hollensbe 2014) or late-career worker identity (Bayl-Smith and Griffin 2014) andits influence both on transition to retirement and adjustment to retirement Specificallyolder worker identity will impact on negative attitudes towards work (Desmette andGaillard 2008) and on behaviours such as bridge employment ndash in a negative sense ndashand full retirement ndash in a positive sense (Zaniboni et al 2010) Related to adjustmentolder worker identity has shown positive impact on retirement satisfaction and onpsychological health during retirement (Michinov et al 2008) Due to this we includedolder worker identity as the first variable among the contextual factors of our analysis
Lastly life course the ecological perspective emphasizes that the contextualembeddedness is particularly important because the experience of life transitionsand retirement is played out in a network of shifting social relations and resourcesembedded within the social context often help retirees to adjust to retirement(Van Solinge 2013 Wang and Shultz 2010) Relative deprivation refers to the feelingof discontent experienced as a result of individual comparisons with others (Runciman1966) Relative deprivation includes two components the cognitive one refers to socialcomparisons and the affective one includes feelings of dissatisfaction At the personallevel feelings of relative deprivation emerge when individuals are dissatisfied withtheir own situation in comparison to that of others In this sense individual relativedeprivation is an important factor that will affect both retirement transition andadjustment According to this point some researchers have shown that the importanceof social networks contributes to onersquos personal appraisal of the attractiveness ofremaining at work (Henkens and Tazelaar 1997) Indeed due to the fact that loss ofsocial relationships will be a certain outcome of full retirement relative deprivation willbe negatively related to total retirement whereas its relationships with alternativepathways from work will be positive
Related to retirement adjustment it will be probably affected by relative deprivationbecause the loss of social relations will affect retirement satisfaction negatively andanxiety and depression positively In a general sense Smith et al (2011) meta-analysedthe outcome variables of relative deprivation finding that it was associated withpersonal responses such as psychological stress depression and anxiety Within thecontext of retirement researchers have reported that social isolation was associatedwith lower retirement satisfaction and less happiness during retirement (Vanderhorstand McLaren 2005)
387
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Retirement intentions and retirement adjustment outcomesThe conceptualization of retirement as an adjustment process allows us to explain whypeople make the same decision to retire but their chosen pathways to exit from worklead them to very different outcomes In this sense this work proposes to explore theimpact of the diverse above-mentioned psychosocial factors on the choice of the diversepathways to exit from work Considering the possible pathways to exit most authorshave used various categories that summarize the broad range of retirement intentionsin full retirement ndash in the sense of a ldquocold turkeyrdquo or abrupt retirement (Calvo et al2009) ndash partial retirement gradual or phased retirement late retirement bridgeemployment and re-entry (Alcover et al 2014 Cahill et al 2013)
Regarding retirement adjustment both the positive and the negative aspectswould be taken into account As Floyd et al (1992) stated the most essential index ofsubjective well-being for an individual is the personrsquos judgement of quality of lifeMaintaining satisfaction during retirement is associated with replacing rewardsgained from work activities with rewarding leisure activities so that the retireemaintains a stable ratio of reinforcements from pre- to post-retirement Retirementsatisfaction has been widely used as the main positive indicator of adjustment duringretirement and global indices of satisfaction appear to be relevant for all age groups(Floyd et al 1992) At the same time poor health has long been established as one ofthe most critical determinants of retirement behaviour but most previous studiesfocused on physical health while mental health also plays an important role forfunctioning and well-being in the retirement process (Kim and Moen 2002 Wang2007) The most common forms of mental illness in the European Union are anxietyand depression and empirical studies have included feelings of anxiety anddepression as indicators of adjustment in later life (Fletcher and Hansson 1991)Retirement anxiety is a generalized feeling of apprehension or worry regardinguncertain unpredictable and potentially disruptive consequences of retirementSpecifically related to relative deprivation a recent meta-analysis included feelingsof anxiety and depression as internal responses (Smith et al 2011)
The current investigationTwo studies examined the influence of psychosocial factors both on retirementintentions and retirement adjustment These studies focused on participants proximalto the retirement experience to ensure a proper examination of the common variablesthat affect both transitions and post-transition development
Study 1 examined whether retirement self-efficacy low work involvement low jobinvolvement older worker identity and relative deprivation significantly explainedretirement intentions (bridge employment engagement part-time retirement lateretirement and full retirement) of workers over 60 years Study 2 expanded this modelwith a new sample of recent retirees examining the relationships between retirementself-efficacy low work involvement low job involvement older worker identity andrelative deprivation significantly explained retirement adjustment (retirementsatisfaction feelings of anxiety and depression) The antecedent variables for Study 1and for Study 2 were the same while the outcome variables differed in both studies
Study 1The first study investigated the influences of retirement self-efficacy low workinvolvement low job involvement older worker identity and relative deprivation on
388
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement intentions Based on the literature reviewed we propose the followinghypotheses (see Figure 1)
H1 Regarding person-related variables (a) high retirement self-efficacy will benegatively related to bridge employment (b) to partial (c) late retirement and (d)positively related to full retirement
H2 Regarding retirement-related variables (a) low work involvement will benegatively related to bridge employment (b) to partial (c) late retirement and(d) positively related to full retirement
H3 (a) Low job involvement will be negatively related to bridge employment (b) topartial (c) late retirement and (d) positively related to full retirement
H4 Regarding contextual variables (a) strong older worker identity will benegatively related to bridge employment (b) to partial (c) late retirement and(d) positively related to full retirement
H5 (a) High relative deprivation will be negatively related to bridge employment(b) to partial (c) late retirement and (d) positively related to full retirement
MethodParticipants and procedureAged workers (nfrac14 157) from several Spanish firms participated in this studyParticipants were recruited due to their proximal anticipation of retirement becausethey were already aged 60 We contacted potential participants on the basis of thepersonnel list of the organizations explained to them the purpose of our study andinvited them to participate in our research Survey packages sets were distributed tothose who agreed to participate by collaborators of the research team who performedthe task after having received precise instructions in order to homogenize theadministration procedure Each set contains a cover letter an informed consent a
ndash
ndash
ndash
+
ndash
ndash
ndash
+
ndash
+
ndash
ndash
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
FullRetirement
Lateretirement
Part-timeretirement
Relativedeprivation
BridgeEmploymentH1b
H1cH1d
H5a
H5cH5d
H3aH3b
Older workeridentity
H3c
H4d
H1a
H3d
H4a H4b
H5b
H4c
Low workinvolvement
ndash
+
+
ndash
ndash
ndash
ndashndash
Low jobinvolvement
H2a
H2b
H2c
H2d
Figure 1Hypothesized model
for Study 1retirement intentions
model (agedworkers)
389
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
questionnaire and a return envelope In the cover letter participants were informed ofthe goal of the study and the anonymity of the data collected Participants wereinformed about the study objectives the variables included on it their rights regardingpersonal data protection and his explicit agreement to participate voluntarily in thestudy Then they completed a workbook containing the diverse scales of the studyCompleted questionnaires and informed consent were mailed back to the researchersdirectly using the pre-paid return envelope included in the survey set A reminderwas sent out to all participants to return the survey one month later In total200 questionnaire packages were distributed and 180 aged workers returned completedforms After excluding returned surveys that had missing data (25 per cent) the finalsample size of participants for analysis was 157
Descriptive analyses showed that mean age was 60 years (SDfrac14 43) The mean timeemployed was 369 years (SDfrac14 87) whereas the mean time in the same organizationwas 255 years (SDfrac14 109) In this sample the percentage of men was 551 per cent Jobtype distribution showed that the firms were aimed to education (28 per cent) health(26 per cent) services (16 per cent) manufacturing (15 per cent) others (15 per cent)
MeasuresSocio-demographic data Participants provided information about their age genderseniority in their organizations and employed time
Retirement self-efficacy We used 13 items of the Retirement Self-Efficacy Scale(Harper 2005) which provides a set of items that focus on confidence in performing awide variety of the subtasks of retirement health financial activities government andpension regulations and retirement itself Cronbachrsquos coefficient of αfrac14 097 has beenreported Response scales ranged from 1 (very little confidence) to 5 (quite a lot ofconfidence) Examples of items are ldquoCope with changes in retirementrdquo ldquoPlan leisuretimerdquo ldquoAdjust successfully to retirementrdquo ldquoMaintain any current skills or knowledge thatyou want to maintainrdquo or ldquoRemain active at homerdquo Reliability in this study was αfrac14 092
Older worker identity We used the self-descriptive component of the Older WorkerIdentity Scale (Tougas et al 2004) which includes ten items from the original scaleThe questionnaire required participants to appraise their motivation creativity andflexibility on a five-point scale ranging between 1 (totally disagree) and 5 (totally agree)The scale reached a reliability of αfrac14 080 among participants in this study Examplesof items are ldquoI amwas less effective in accomplishing my workrdquo ldquoI became lesscreative in accomplishing my workrdquo ldquoI amwas no longer motivated to accomplish mytasksrdquo and ldquoI became less adaptable and flexiblerdquo
Low work involvement The work involvement questionnaire (Kanungo 1982) wasused We included two items ldquoThe most important things that happen to me involvemy present workrdquo ldquoMost of my personal life goals are work-orientedrdquo Items werereversed to reflect low involvement Response scale ranged from 1 (totally disagree) to5 (totally agree) This scale reached αfrac14 085 in this study
Low job involvement The job involvement questionnaire (Kanungo 1982) was usedWe included two items ldquoMost of my interests are centred on my jobrdquo ldquoI consider my jobto be very central to my existencerdquo Items were reversed to reflect low involvementResponse scale ranged from 1 (totally disagree) to 5 (totally agree) This scale reachedαfrac14 083 in this study
Relative deprivation We used three items from the Personal Relative DeprivationScale (Tougas et al 1991) ldquoI have the impression that we were less appreciated that
390
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
younger workersrdquo (appreciation) ldquoWe have the impression that our work wasevaluated less well than that of those younger than usrdquo (evaluation) ldquoWe think that wehad less opportunity for promotion that those younger than usrdquo (promotion) Thescale reached a reliability of αfrac14 065 among the participants in this study
Retirement intentions Participants were asked to agree or disagree with fourstatements that reflect different pathways for retirement following the procedure ofprevious studies (Zaniboni et al 2010) full retirement (ldquoI will retire as soon aspossiblerdquo) part-time retirement (ldquoEven when I could already retire I would keep onworking but reducing my actual work timerdquo) late retirement (ldquoEven when I can retireI will keep on workingrdquo) bridge employment (ldquoEven when I can retire I will keep onworking but changing job typerdquo)
Overview of analysesFirst as self-report questionnaires were used to collect the data at the same time fromthe same participants common method variance may be a concern In order to testwhether variance in the data can be largely attributed to a single factor we used thepost hoc Harman one-factor analysis (Podsakoff et al 2003) Second descriptiveanalyses were studied in addition to the inter-correlations of all the variables Third inorder to test our hypothesis we performed structural equation modelling (SEM) usingthe maximum likelihood procedure and the original data as input with AMOS 200 TheSEM model included four latent exogenous variables and four latent endogenousvariables Finally in order to show the potentially differential impacts of the personalretirement-related and contextual variables we run several multivariate regressionanalyses as an anonymous reviewer suggested
To test the fit of the models several indexes are recommended such as χ2 and its levelof probability the goodness of fit index (GFI) and the root mean square error ofapproximation (RMSEA) Comparative indexes have been used such as the Akaikeinformation criterion (AIC) and the Browne-Cudek criterion (BCC) with simpler modelsachieving low values because both indexes penalize complex models with a poor fit to thedata Three more indexes are also used to compare models the Expected Cross-ValidationIndex (ECVI similar to the AIC and the BCC) In both of them the simpler models withbetter fit achieve low values whereas the more complex models with poorer fit reach highscores because both indexes penalize complex models with a poor fit to the data
ResultsIn order to apply the post hoc Harman one-factor analysis (Podsakoff et al 2003) weexamined the results of preliminary exploratory factor analysis which showed that asingle factor only accounted for 24 per cent of the variance Hence a single factorcannot account for the variance in the data and we cannot consider the commonmethod variance to be a serious deficiency in this data set
Table I show the means standard deviations and inter-correlations of the variablesCorrelation matrix analysis provided preliminary support for the hypotheses In thisstudy psychosocial factors were intercorrelated Retirement self-efficacy hadsignificant and negative relations both with older worker identity low workinvolvement low job involvement and relative deprivation At the same time olderworker identity was positively and significantly correlated with relative deprivationConcerning consequences all the variables were highly correlated The relationshipbetween full retirement and the other pathways from work were negative
391
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
In the next step we proceeded to test our SEM models Regarding the retirementintentions model the fit indicators of the original model were inadequateχ2(12)frac14 1723 pfrac14 000 CMINdffrac14 144 GFIfrac14 075 RMSEAfrac14 029 AICfrac14 2203BCCfrac14 2937 ECVIfrac14 147 (CI 90frac14 121178) MECVIfrac14 149 so the model was re-specified The correlations between retirement self-efficacy older worker identity andrelative deprivation were added obtaining a progressively better fit Based on theircritical ratios (CR) statistically nonsignificant relations such as those betweenretirement self-efficacy and bridge employment among others were eliminatedDespite this decision the relationship between relative deprivation and full retirementwas retained due its theoretical meaning The re-specified model showed better fitχ2(7)frac14 374 pfrac14 081 CMINdffrac14 054 GFIfrac14 099 RMSEAfrac14 000 AICfrac14 6175BCCfrac14 6529 Additional analyses have been carried out to test cross-validationECVIfrac14 042 (CI 90frac14 044048) MECVIfrac14 045 showed lower values than the proposedmodels Standardized estimations for the re-specified model can be observed inFigure 2 The percentage of variance explained by the model seems low for eachretirement pathway because it ranges between 07 and 25 per cent
The examination of the standardized estimates in the final model allows us to state thatour hypotheses have been partially confirmed Related to retirement self-efficacy ourresults showed that it was positively related to full retirement and negatively related topartial and late retirement confirming H1b-H1d The relationship between retirementself-efficacy and bridge employment showed the expected direction (H1a) but failed toreach statistical significance
Related to low work involvement only H2a and H2c were supported Directpathways from low work involvement to full retirement and to partial did not showstatistical relevance (H2b and H2d) Low job involvement showed the hypthesizednegative relationship with partial retirement confirming H3b while the othershypotheses have been rejected (H3a-H3d)
Regarding older worker identity our results confirmed the hypothesizedrelationships positive relationship with full retirement (H4d) and negative relationshipwith late retirement (H4c) whereas data failed to confirm our hypotheses for bridgeemployment (H4a) and partial retirement (H4b) due to lack of statistical significanceFinally regarding relative deprivation only H5a-H5d were confirmed by data whereasH4b failed to reach statistical confirmation
Regarding multivariate analyses Table II shows the main results which showedthat the socio-demographic variables failed to account for the variance of the retirementintention outcomes (see Table II) Retirement self-efficacy was the main significantantecedent (for partial late and full-retirement criteria) with older worker identity andrelative deprivation for full retirement Low work involvement and low job involvementfailed to reach statistical significance
Brief discussion on Study 1Study 1 successfully confirmed the proposed hypotheses First retirement self-efficacyand older worker identity showed powerful positive influences on full retirementintention Second late retirement has been negatively influenced by all the psychosocialfactors Finally partial retirement and bridge employment showed a more complexpattern of relationships according to the percentage of variance accounted for the modelA general discussion in deep will be offered later comprising Studies 1 and 2
Study 2The second study investigated the influences of retirement self-efficacy low workinvolvement older worker identity and relative deprivation on retirement adjustmentBased on the literature reviewed we propose the following hypotheses (see Figure 3)
H6 Regarding person-related variables (a) high retirement self-efficacy will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H7 Regarding retirement-related variables (a) low work involvement will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H8 (a) Low job involvement will be positively related to retirement satisfaction(b) negatively related to feelings of anxiety and (c) of depression
H9 Regarding contextual variables (a) strong older worker identity will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
393
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Bridg
eem
ployment
Partialretirem
ent
Late
retirem
ent
Fullretirem
ent
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
002
002
minus000
minus001
minus013
minus014
minus016
minus016
minus002
minus003
minus006
minus007
004
006
008
010
Employed
time
002
minus000
minus000
001
010
002
001
001
002
minus006
minus006
minus003
minus002
012
011
008
Jobseniority
minus009
minus007
minus006
minus007
minus011
minus005
minus003
minus001
003
008
010
011
013
003
002
001
Independ
entvariables
RSE
minus006
minus002
minus005
minus025
minus021
minus022
minus023
minus019
minus024
044
043
049
LWI
minus011
minus007
minus004
minus004
minus014
minus007
011
004
LJI
minus010
minus013
minus020
minus019
minus012
minus015
004
001
OWI
minus005
minus009
minus021
027
RD
minus019
007
minus014
014
F034
038
114
165
102
297
33
262
008
181
251
374
08
816
565
748
ΔF
034
049
264
309
102
864
372
064
008
69
37
68
080
297
068
106
R2
minus001
minus002
000
004
000
005
009
008
minus002
002
010
018
minus000
017
016
027
ΔR2
0007
0003
004
004
002
005
004
000
000
005
005
008
002
017
000
011
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativ
edeprivation
po
005po
001
p
o0001po
010
Table IIResults ofmultivariateregression analysesfor Study 1 (agedworkers)
394
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
H10 (a) High relative deprivation will be negatively related to retirementsatisfaction (b) positively related to feelings of anxiety and (c) of depression
MethodParticipants and procedureThe Study 2 was conducted with retirees (nfrac14 218) and included participants whohad retired at least two years ago Retirees had previously worked in the sameorganizations that the employees of the first sample They were identified bythe research team through personnel archives of these organizations and then thecollaborators of the research team contacted to the potential participants by e-mailexplained to them the purpose of our study and invited them to participate voluntarilyin exchange of a lottery reward Survey packages sets ndash cover letter informed consentquestionnaire and the return envelope ndash were sent to those who agreed to participateCompleted questionnaires and informed consent were mailed back to the researchersusing the pre-paid return envelope A reminder was sent out to all participants to returnthe survey one month later In total 300 questionnaire packages were distributed and235 retirees returned completed forms After excluding those with several missing data(18 per cent) the final sample size included 218 retirees
These participants had a mean age of 68 years (SDfrac14 72) and the mean timeemployed was 382 years (SDfrac14 109) whereas the mean retired time was 65 years(SDfrac14 58) In this study the percentage of men was 706 per cent Job type distributionshowed that the firms were aimed to education (32 per cent) health (30 per cent) services(12 per cent) manufacturing (18 per cent) and others (8 per cent)
MeasuresAntecedent variables for this study were similar to Study 1 Socio-demographic dataretirement self-efficacy older worker identity low work involvement and relativedeprivation were measured as per Study 1 Reliabilities values in this study wereαfrac14 089 for retirement self-efficacy αfrac14 077 for older worker identity αfrac14 079 for low
+
ndash
ndash
+
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
Feelings ofDepression
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
H6a
H6bH6c
H10aH10b
H10c
Older workeridentity
H7a
H9b
H9c
H9a
Low workinvolvement
H7b
H7c
+
ndash
ndash
+
ndash
ndash
+
ndash
ndash
ndash
Low jobinvolvement
H8a
H8b
H8c
ndash
Figure 3Hypothesized model
for Study 2retirement
adjustment model(retirees)
395
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
work involvement and αfrac14 067 for relative deprivation Consequences were measuredas follows
Retirement satisfaction We used the satisfaction with life subscale of the retirementsatisfaction inventory (Floyd et al 1992) which included 11 items Many aspectsincluded are common to other life satisfaction scales (financial resources or interpersonalrelations) whereas other aspects are particularly relevant for future retirees such asaccess to social services or transportation Cronbachrsquos α reliability for the originalsubscale was αfrac14 081 Respondents used a response scale from 1 (totally unsatisfied)to 5 (totally satisfied)
Feelings of anxiety We used a measure of low psychological well-being developedad hoc for the study based on the model of measurement of well-being proposed byWarr (1990) This measure consisted of a single item ldquoIf you think about yourretirement how much anxiety do you feelrdquo The response scale ranged from 1 (verylittle anxiety) to 5 (quite a lot of anxiety)
Feelings of depression We used a measure of low psychological well-being developedad hoc based on Warr (1990) This measure consisted of a single item ldquoIf you thinkabout your retirement how much depression do you feelrdquo The response scale rangedfrom 1 (very little depression) to 5 (quite a lot of depression)
Overview of analysesSimilar procedures have been used to conduct the data analyses for this study applyingrecommendations to minimize the common method variance exploring correlationsamong the variables third testing hypotheses trough a SEM analysis and finallyconducting multivariate regression analyses which allow us introduce antecedents stepby step The SEM model in Study 2 included four latent exogenous variables and threelatent endogenous variables
ResultsThe results of preliminary exploratory factor analysis showed that a single factor onlyaccounted for 235 per cent of the variance (Podsakoff et al 2003) supporting that wecannot consider the common method variance to be a serious deficiency in this data setTable III show the means standard deviations and inter-correlations Psychosocialfactors showed a complex pattern of relationships Retirement self-efficacy wasnegatively related both to older worker identity and to relative deprivation but had anegligible relation with low work involvement Older worker identity had a positiverelationship both with low work involvement low job involvement and relativedeprivation as expected Consequences were significantly related showing an
expected pattern retirement satisfaction had a negative relationship both with feelingsof anxiety and of depression whereas feelings of anxiety and depression werepositively intercorrelated Contrary to our hypotheses relative deprivation showed anegative relationship with depression
Next we proceeded to test the SEM model Fit indicators of the original model wereinadequate χ2(6)frac14 5451 pfrac14 000 CMINdffrac14 908 GFIfrac14 089 RMSEAfrac14 026AICfrac14 9851 BCCfrac14 10165 ECVIfrac14 082 (CI 90frac14 066105) MECVIfrac14 085 so themodel was re-specified The correlations between retirement self-efficacy low workinvolvement older worker identity and relative deprivation were added obtaining aprogressively better fit Based on their CR statistically nonsignificant relations such asthose between low work involvement and anxiety were eliminated The re-specifiedmodel showed better fit χ2(3)frac14 148 pfrac14 069 CMINdffrac14 049 GFIfrac14 099RMSEAfrac14 000 AICfrac14 515 BCCfrac14 5506 Additional analyses have been carried out totest cross-validation ECVIfrac14 043 (CI 90frac14 044048) MECVIfrac14 046 showed lower valuesthan the proposed models Finally the respecified model and its standardized estimationscan be observed in Figure 4 The percentage of variance explained by the modelseems low for each retirement pathway because it ranges between 27 and 34 per cent
The retirement adjustment model showed thatH6a-H6cwere totally confirmed Relatedto low work involvement only H7awas confirmed because the relationships with anxietyand depression failed to confirm H7b and H7c due to their lack of statistical significanceLow job involvement showed significant relationships with feelings of anxiety and thesedata allow us to confirm H8b while both H8b and H8c have been rejected
Older worker identity had a positive relationship with retirement satisfaction butwithout statistical significance (H9a) whereas the relationships with feelings of anxietyand depression proved to be stronger and negative as hypothesized (H9b and H9c)Regarding relative deprivation H10a-H10c were totally confirmed Regardingmultivariate analyses Table IV shows the main results which showed that the socio-demographic variables failed to account for the variance of the retirement adjustmentoutcomes (see Table IV) Retirement self-efficacy was the main significant antecedent
018
Retirementself-efficacy
Feelings ofDepression
032
032
032
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
ndash016
046
ndash048
H6a
H6bH6c
016H10aH10b
H10c
ndash037
025
Older workeridentity
H8a
011 ns
H9bndash026
H9c ndash026
H9a
017
Low jobinvolvement
H8b ndash019
H7a021Low work
involvement
042
027
045
ndash014
ndash024
ndash045
ndash040
045
Notes n= 218 plt005 plt001
Figure 4Standardized
estimates for Study 2(retirement
adjustment model)
397
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Retirem
entsatisfaction
Feelings
ofanxiety
Feelings
ofdepression
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
005
019
017
016
009
minus003
minus007
minus004
006
minus006
minus007
minus002
Employed
time
000
001
000
000
005
004
008
008
009
009
010
011
Retired
time
003
minus008
minus005
minus004
minus025
minus015
minus011
minus012
minus009
minus000
minus002
minus004
Independ
entvariables
RSE
044
044
044
minus040
minus038
minus039
minus041
minus040
minus042
LWI
000
000
021
020
005
004
LJI
013
011
minus017
minus014
minus015
minus009
OWI
007
minus014
minus028
RD
minus006
011
020
F042
123
909
693
275
1225
96
800
100
1055
789
891
ΔF
042
478
215
071
275
3924
366
272
100
387
207
1016
R2
minus000
018
018
018
002
018
020
021
000
015
016
023
ΔR2
0007
019
002
000
003
015
003
002
001
016
002
007
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativedeprivation
po
005
po
001po
0001po
010
Table IVResults ofmultivariateregression analysesfor Study 2 (retirees)
398
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
(for retirement satisfaction anxiety and depression criteria) with low work involvementolder worker identity and relative deprivation for anxiety and depression feelings Lowjob involvement failed to reach statistical significance for the depression analysis
Brief discussion on Study 2Study 2 provided evidence for the proposed pattern of relationships between retirementself-efficacy low work involvement older worker identity and relative deprivation andretirement adjustment among retirees Despite the absence of a significant associationbetween low work involvement and feelings of anxiety and depression it was shown thatretirement well-being was significantly explained by the hypothesized antecedentsGenerally speaking our data confirmed the proposed pattern of relationships betweenpsychosocial factors on the one hand and retirement adjustment on the other handdespite the fact that some of the pathways did not reach sufficient statistical power
General discussionThis work had two goals pursued by two empirical studies with two samples workersover 60 years and retirees Study 1 was aimed to analyse the impact of psychosocialfactors on retirement intentions Study 2 was conducted to confirm the impact of thesame psychosocial factors on retirement adjustment In general we can state that bothgoals were achieved Specifically we contend that the availability of two different sets ofdata increases the generalizability of our findings On the basis of these data it wasshown that conceptualizing retirement as an adjustment process provides a morecomprehensive approach to understanding the phenomena As Wang and Shultz (2010)emphasized this conceptualization views retirement as incorporating both the pathwaysfrom employment to retirement and a post-retirement trajectory which includes efforts toachieve psychological well-being in retirement As Beehr and Bennett (2007) havementioned although much information on the decision to retire is available there is lessinformation particularly in terms of an underlying framework on what happens toindividuals after they retire (Taylor-Carter and Cook 1995) and especially years afterthey have retired In this sense our study contributes to bridge this gap
Retirement intentionsIn a more general sense in Study 1 we attempted to overcome a generalized criticism tothe life course perspective which seems to provide a general framework for analyzingtransitions and for the study of the heterogeneity in the retirement experience but offersfew concrete hypotheses as to how and why specific life course transitions impinge onwell-being (Szinovacz 2003 Van Solinge 2013) As expected our results showed thathigh retirement self-efficacy low work involvement and strong older worker identitytend to decrease intentions to keep on working and in turn they tend to increase fullretirement intentions At the same time relative deprivation shows the opposite patternwith high values increasing intentions to engage in bridge employment and lateretirement Specifically our results are in line with those of Henkens and Tazelaar (1997)and Van Solinge and Henkens (2007) which found that social embeddedness at workcontributes to worker evaluations about the attractiveness to keep on working
These results partially confirm the general tendency of previous findings ofZaniboni and colleagues (2010) notwithstanding that specific instruments and typeof sample and organization were different In this sense our results supported theexpectation that this pattern of intentions would be confirmed with different sectorssuch as private employees It has been suggested that people have mixed intentions
399
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Psychosocial factors inretirement intentions and
adjustment a multi-sample studyGabriela Topa
Department of Social and Organizational Psychology UNEDMadrid Spain and
Carlos-Mariacutea AlcoverDepartment of Psychology Rey Juan Carlos University Madrid Spain
AbstractPurpose ndash Retirement adjustment is the process by which aged workers become accustomed to thechanged facts of life in the transition from work to retirement and develop psychological well-being intheir post-working life The purpose of this paper is to explore the psychosocial factors that significantlyexplain retirement intentions and retirement adjustment using two separate empirical studiesDesignmethodologyapproach ndash Retirement self-efficacy low work involvement older workeridentity and relative deprivation significantly explained retirement intentions (bridge employmentengagement part-time retirement late retirement and full retirement) of workers over 60 years(Study 1 nfrac14 157) Retirement adjustment indices (retirement satisfaction feelings of anxiety anddepression) were associated with psychosocial factors for retirees (Study 2 nfrac14 218)Findings ndash The findings highlight that retirement self-efficacy and older worker identity positivelyand significantly explained both full retirement of aged workers and retirement satisfaction of retireesRelative deprivation negatively significantly explained partial and late retirement intentions andretirement satisfaction of retireesResearch limitationsimplications ndash The implications of these studies are discussed forunderstanding retirement planning and counselling practicePractical implications ndash Retirement adjustment conceptualized as a process has importantimplications for retirement planning and consequently can influence the project of the life course aswell as careerrsquos decisionsSocial implications ndash Social contexts should consider all factors that can negatively affectself-efficacy work involvement and identity of employees in the mid and late-career stages and thuscontribute to reinforce and strengthen personal and psychosocial resources involved in planning andadaptation to retirement and to increase the insight into the planning and decisions older workersmake to face retirementOriginalityvalue ndash This work had two goals pursued by two empirical studies with two samplesworkers over 60 years and retirees The authors contend that the availability of two different sets ofdata increases the generalizability of the findingsKeywords Retirement Structural equation modelling Well-being Retirement satisfactionTrajectoriesPaper type Research paper
The worldwide economic crisis the modification of labour legislation and specially theglobal process of aging in developed and developing countries (Phillips and Siu 2012)with the resulting delay in retirement age are some of the factors that have recentlyintroduced profound changes into the nature of retirement These global changepatterns have become retirement in an area of general transcendence that cansubstantially influence the sustainable economical and social development of countriesand societies around the world (Wang 2013) In the current socio-economic context the
Career Development InternationalVol 20 No 4 2015pp 384-408copyEmeraldGroup Publishing Limited1362-0436DOI 101108CDI-09-2014-0129
Received 26 September 2014Revised 1 April 201514 May 20153 June 2015Accepted 4 June 2015
The current issue and full text archive of this journal is available on Emerald Insight atwwwemeraldinsightcom1362-0436htm
384
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
life course and careers are less predictable and the experiences of transitions ndashvariable complex contingent ndash tend to characterize what was traditionally a well-defined stage within the life course and careers (Van der Heijden et al 2008) In thissense Elder and Johnson (2003) have proposed substituting the concept of trajectoryfor that of transitions to define peoplersquos labour-life course Today researchers agree toconceptualize retirement like as a process rather than a single event (Beehr andBennett 2007 Beehr and Bowling 2013) a complex process that can evolve over timeand can even take a variable period of years to be concluded (Shultz and Wang 2011)during which people must make a number of decisions about their participation in thelabor force (Dingemans and Henkens 2014) As such instead of viewing retirement as afull career exit it can be conceptualized as a late-career development stage thatrecognizes the continued potential for personal growth and redefinition of careers inpeoplersquos retirement life (Wang and Shi 2014 Wang and Shultz 2010)
Based on this approach some authors have therefore suggested that it is moreappropriate to conceptualize retirement as a process of adjustment (Wang 2007 Wangand Shi 2014) By adjustment we refer to the process by which retirees adapt to thechanges in their lives and reach a state of acceptable psychological well-being and comfortwith their retirement life (Van Solinge and Henkens 2008) when they managed potentialsignificant shifts in health finance and activity within the domains of home communityand work (Heskeths et al 2011) This approach emphasizes that it is not the decision toretire in itself the most important but rather the characteristics of the retirement transitionprocess embedded in this decision that are of most relevance (van Solinge and Henkens2008 Wang and Shi 2014) Wang et al (2011) have argued that retirement adjustmentis a process whose experience is contingent on the individual access to economicpsychological social and interpersonal resources and potential changes in these resourcesduring the retirement transition and retirement adaptation (Van Solinge 2013) Thisprogressive adaptation takes place in two scenarios First transition from work toretirement and second post-retirement trajectory (Wang and Shultz 2010)
When conceptualizing retirement as adjustment researchers preferably base this onthe life course theoretical perspective (Elder and Johnson 2003) This approach considersretirement as a transition within the life course and notes that peoplersquos history personalresources and context will affect the diverse pathways they choose and the outcomesthey eventually achieve The life course perspective explicitly locates life transitions inthe social contexts of other roles relations resources developmental processes andevents and personal history So it provides a promising general framework for the studyof the variety of paths in the retirement experience (Van Solinge 2013) Despite this factonly few works adopting this approach have related the stage of transition from work toretirement to post-retirement adjustment (Nuttman-Shwartz 2004 Theriault 1994)
Therefore we conducted two studies to analyse the process of adjustment(transition and post-transition development) and to assess the factors that significantlyexplain both retirement transition and retirement adjustment Study 1 examined theimpact of psychosocial factors on retirement intentions among workers over 60 yearsof age Study 2 investigated the impact of the same psychosocial factors on retirementadjustment using a sample of retirees
Factors predicting retirement transition and retirement adjustmentLife course perspective stated that people who have developed capacities that facilitatea smooth transition will be better prepared will engage in transition at the right timeand will achieve better outcomes Researchers in this field stated that retirement is a
385
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
concept referred to several distinct phenomena (Szinovacz 2003) so it is necessary toadopt a multilevel perspective (Szinovacz 2013) At least retirement should beconceived as a personal experience as a process and as societal institution As personalexperience retirement implies the necessity of different skills which allow the person tocope with multiple changes brought by retirement As a process retirement implicatesdecisions on work withdrawal And as a societal institution retirement influences bothexpectations that older workers should leave to provide job opportunities for youngerworkers and shared perceptions about the older persons as less competent andefficient This conceptualization of retirement allows us to conceived three spheres ofinfluences on retirement transition and adjustment personal variables retirementfactors and contextual factors (Szinovacz 2003) Among the personal variablespsychological resources influence the individualrsquos reactions to the changes associatedwith retirement stressing the relevance of agency in the retirement adjustment process(Van Solinge 2013) In this regard perhaps the most important is the sense of personalmastery or retirement self-efficacy Retirement self-efficacy is the belief that one hasthe knowledge and skills necessary to deal with the changes associated with retirement(Taylor-Carter and Cook 1995) and it has been developed through prior experiences todeal with other transitions A general premise hypothesized that positive levels ofretirement self-efficacy will enhance the positive effects of retirement planning ongeneral adaptation to retirement (Taylor and Schaffer 2013)
Most studies of retirement self-efficacy have analysed the relationships betweenretirement self-efficacy on the one hand and both retirement transition and adjustmenton the other hand (Fretz et al 1989 Harper 2005 Mutran et al 1997 Taylor and Shore1995 Van Solinge and Henkens 2005) Regarding the transition process retirementself-efficacy is likely to affect workersrsquo motivation to retire feelings about futureretirement and motivation to attempt the transition to retirement (Fretz et al 1989Taylor and Shore 1995) At the same time retirement self-efficacy is also likely to affectworkersrsquo efforts for a successful retirement transition their persistence whendifficulties arise their overall future successful retirement transition and satisfactionwith retirement (eg Bandura 1997 Bandura and Jourden 1991) Lastly concerningadjustment retirement self-efficacy influences feelings associated with retirementtransition and workersrsquo mental health (Fretz et al 1989) and that the effect of post-retirement planning on retirement adjustment is mediated by mastery or personalcontrol (Donaldson et al 2010)
Life course theory proposed that people who are less attached to their work are morelikely to deal better with the transition of exiting from work Work involvement hasbeen defined as a degree of attachment to onersquos current job or to work in general(Kanungo 1982) and it was negatively and strongly related to turnover intentions andto actual turnover (Griffeth et al 2000) Regarding retirement intentions to retire areaffected by work involvement specifically at late-career (Post et al 2013) and manyolder employees disengage more from work when getting closer to their plannedretirement age (Damman et al 2013)
Work involvement will affect peoplersquos desire to remain active (Taylor-Carter andCook 1995) Previous research have distinguished work involvement from jobinvolvement (Kanungo 1982) considering that the first is attachment to work ingeneral while the second is related but different Hence if people have attitudes of lowwork or job involvement their intention to quit will probably be high whereas theirintention to continue working ndash for example by means of bridge employment ndash will belower Likewise if people are less involved with their work or their job during their
386
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
occupational life they can be expected to adapt more easily to the new retirementsituation as work did not occupy a core position in their life prior to retirementNevertheless previous research has found inconsistent results for instance somestudies (Quick and Moen 1998 Reitzes and Mutran 2006) found that identification withthe work role positively impacted on adjustment for up to 24 months after theretirement event whereasWong and Earl (2009) found that work centrality was neitherrelated to retirement adjustment nor to post-retirement activity levels
The life course perspective also argues that the experience of transition will becontingent with the specific context surrounding the person Taking into account thataged workers ndash like everyone else ndash want to maintain a positive identity and becauseresearch would indicate that identification with working increases in importance withage (Baltes et al 2012) some authors proposed that the experience of unfavourabletreatment discrimination in career opportunities etc can lead to internalization ofnegative characteristics such as low motivation resistance to change and lack ofinterest or of creativity (Tougas et al 2004) According to these suggestions studieshave proposed the existence of older worker identity (Roberto and Biggan 2014 Urickand Hollensbe 2014) or late-career worker identity (Bayl-Smith and Griffin 2014) andits influence both on transition to retirement and adjustment to retirement Specificallyolder worker identity will impact on negative attitudes towards work (Desmette andGaillard 2008) and on behaviours such as bridge employment ndash in a negative sense ndashand full retirement ndash in a positive sense (Zaniboni et al 2010) Related to adjustmentolder worker identity has shown positive impact on retirement satisfaction and onpsychological health during retirement (Michinov et al 2008) Due to this we includedolder worker identity as the first variable among the contextual factors of our analysis
Lastly life course the ecological perspective emphasizes that the contextualembeddedness is particularly important because the experience of life transitionsand retirement is played out in a network of shifting social relations and resourcesembedded within the social context often help retirees to adjust to retirement(Van Solinge 2013 Wang and Shultz 2010) Relative deprivation refers to the feelingof discontent experienced as a result of individual comparisons with others (Runciman1966) Relative deprivation includes two components the cognitive one refers to socialcomparisons and the affective one includes feelings of dissatisfaction At the personallevel feelings of relative deprivation emerge when individuals are dissatisfied withtheir own situation in comparison to that of others In this sense individual relativedeprivation is an important factor that will affect both retirement transition andadjustment According to this point some researchers have shown that the importanceof social networks contributes to onersquos personal appraisal of the attractiveness ofremaining at work (Henkens and Tazelaar 1997) Indeed due to the fact that loss ofsocial relationships will be a certain outcome of full retirement relative deprivation willbe negatively related to total retirement whereas its relationships with alternativepathways from work will be positive
Related to retirement adjustment it will be probably affected by relative deprivationbecause the loss of social relations will affect retirement satisfaction negatively andanxiety and depression positively In a general sense Smith et al (2011) meta-analysedthe outcome variables of relative deprivation finding that it was associated withpersonal responses such as psychological stress depression and anxiety Within thecontext of retirement researchers have reported that social isolation was associatedwith lower retirement satisfaction and less happiness during retirement (Vanderhorstand McLaren 2005)
387
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Retirement intentions and retirement adjustment outcomesThe conceptualization of retirement as an adjustment process allows us to explain whypeople make the same decision to retire but their chosen pathways to exit from worklead them to very different outcomes In this sense this work proposes to explore theimpact of the diverse above-mentioned psychosocial factors on the choice of the diversepathways to exit from work Considering the possible pathways to exit most authorshave used various categories that summarize the broad range of retirement intentionsin full retirement ndash in the sense of a ldquocold turkeyrdquo or abrupt retirement (Calvo et al2009) ndash partial retirement gradual or phased retirement late retirement bridgeemployment and re-entry (Alcover et al 2014 Cahill et al 2013)
Regarding retirement adjustment both the positive and the negative aspectswould be taken into account As Floyd et al (1992) stated the most essential index ofsubjective well-being for an individual is the personrsquos judgement of quality of lifeMaintaining satisfaction during retirement is associated with replacing rewardsgained from work activities with rewarding leisure activities so that the retireemaintains a stable ratio of reinforcements from pre- to post-retirement Retirementsatisfaction has been widely used as the main positive indicator of adjustment duringretirement and global indices of satisfaction appear to be relevant for all age groups(Floyd et al 1992) At the same time poor health has long been established as one ofthe most critical determinants of retirement behaviour but most previous studiesfocused on physical health while mental health also plays an important role forfunctioning and well-being in the retirement process (Kim and Moen 2002 Wang2007) The most common forms of mental illness in the European Union are anxietyand depression and empirical studies have included feelings of anxiety anddepression as indicators of adjustment in later life (Fletcher and Hansson 1991)Retirement anxiety is a generalized feeling of apprehension or worry regardinguncertain unpredictable and potentially disruptive consequences of retirementSpecifically related to relative deprivation a recent meta-analysis included feelingsof anxiety and depression as internal responses (Smith et al 2011)
The current investigationTwo studies examined the influence of psychosocial factors both on retirementintentions and retirement adjustment These studies focused on participants proximalto the retirement experience to ensure a proper examination of the common variablesthat affect both transitions and post-transition development
Study 1 examined whether retirement self-efficacy low work involvement low jobinvolvement older worker identity and relative deprivation significantly explainedretirement intentions (bridge employment engagement part-time retirement lateretirement and full retirement) of workers over 60 years Study 2 expanded this modelwith a new sample of recent retirees examining the relationships between retirementself-efficacy low work involvement low job involvement older worker identity andrelative deprivation significantly explained retirement adjustment (retirementsatisfaction feelings of anxiety and depression) The antecedent variables for Study 1and for Study 2 were the same while the outcome variables differed in both studies
Study 1The first study investigated the influences of retirement self-efficacy low workinvolvement low job involvement older worker identity and relative deprivation on
388
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement intentions Based on the literature reviewed we propose the followinghypotheses (see Figure 1)
H1 Regarding person-related variables (a) high retirement self-efficacy will benegatively related to bridge employment (b) to partial (c) late retirement and (d)positively related to full retirement
H2 Regarding retirement-related variables (a) low work involvement will benegatively related to bridge employment (b) to partial (c) late retirement and(d) positively related to full retirement
H3 (a) Low job involvement will be negatively related to bridge employment (b) topartial (c) late retirement and (d) positively related to full retirement
H4 Regarding contextual variables (a) strong older worker identity will benegatively related to bridge employment (b) to partial (c) late retirement and(d) positively related to full retirement
H5 (a) High relative deprivation will be negatively related to bridge employment(b) to partial (c) late retirement and (d) positively related to full retirement
MethodParticipants and procedureAged workers (nfrac14 157) from several Spanish firms participated in this studyParticipants were recruited due to their proximal anticipation of retirement becausethey were already aged 60 We contacted potential participants on the basis of thepersonnel list of the organizations explained to them the purpose of our study andinvited them to participate in our research Survey packages sets were distributed tothose who agreed to participate by collaborators of the research team who performedthe task after having received precise instructions in order to homogenize theadministration procedure Each set contains a cover letter an informed consent a
ndash
ndash
ndash
+
ndash
ndash
ndash
+
ndash
+
ndash
ndash
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
FullRetirement
Lateretirement
Part-timeretirement
Relativedeprivation
BridgeEmploymentH1b
H1cH1d
H5a
H5cH5d
H3aH3b
Older workeridentity
H3c
H4d
H1a
H3d
H4a H4b
H5b
H4c
Low workinvolvement
ndash
+
+
ndash
ndash
ndash
ndashndash
Low jobinvolvement
H2a
H2b
H2c
H2d
Figure 1Hypothesized model
for Study 1retirement intentions
model (agedworkers)
389
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
questionnaire and a return envelope In the cover letter participants were informed ofthe goal of the study and the anonymity of the data collected Participants wereinformed about the study objectives the variables included on it their rights regardingpersonal data protection and his explicit agreement to participate voluntarily in thestudy Then they completed a workbook containing the diverse scales of the studyCompleted questionnaires and informed consent were mailed back to the researchersdirectly using the pre-paid return envelope included in the survey set A reminderwas sent out to all participants to return the survey one month later In total200 questionnaire packages were distributed and 180 aged workers returned completedforms After excluding returned surveys that had missing data (25 per cent) the finalsample size of participants for analysis was 157
Descriptive analyses showed that mean age was 60 years (SDfrac14 43) The mean timeemployed was 369 years (SDfrac14 87) whereas the mean time in the same organizationwas 255 years (SDfrac14 109) In this sample the percentage of men was 551 per cent Jobtype distribution showed that the firms were aimed to education (28 per cent) health(26 per cent) services (16 per cent) manufacturing (15 per cent) others (15 per cent)
MeasuresSocio-demographic data Participants provided information about their age genderseniority in their organizations and employed time
Retirement self-efficacy We used 13 items of the Retirement Self-Efficacy Scale(Harper 2005) which provides a set of items that focus on confidence in performing awide variety of the subtasks of retirement health financial activities government andpension regulations and retirement itself Cronbachrsquos coefficient of αfrac14 097 has beenreported Response scales ranged from 1 (very little confidence) to 5 (quite a lot ofconfidence) Examples of items are ldquoCope with changes in retirementrdquo ldquoPlan leisuretimerdquo ldquoAdjust successfully to retirementrdquo ldquoMaintain any current skills or knowledge thatyou want to maintainrdquo or ldquoRemain active at homerdquo Reliability in this study was αfrac14 092
Older worker identity We used the self-descriptive component of the Older WorkerIdentity Scale (Tougas et al 2004) which includes ten items from the original scaleThe questionnaire required participants to appraise their motivation creativity andflexibility on a five-point scale ranging between 1 (totally disagree) and 5 (totally agree)The scale reached a reliability of αfrac14 080 among participants in this study Examplesof items are ldquoI amwas less effective in accomplishing my workrdquo ldquoI became lesscreative in accomplishing my workrdquo ldquoI amwas no longer motivated to accomplish mytasksrdquo and ldquoI became less adaptable and flexiblerdquo
Low work involvement The work involvement questionnaire (Kanungo 1982) wasused We included two items ldquoThe most important things that happen to me involvemy present workrdquo ldquoMost of my personal life goals are work-orientedrdquo Items werereversed to reflect low involvement Response scale ranged from 1 (totally disagree) to5 (totally agree) This scale reached αfrac14 085 in this study
Low job involvement The job involvement questionnaire (Kanungo 1982) was usedWe included two items ldquoMost of my interests are centred on my jobrdquo ldquoI consider my jobto be very central to my existencerdquo Items were reversed to reflect low involvementResponse scale ranged from 1 (totally disagree) to 5 (totally agree) This scale reachedαfrac14 083 in this study
Relative deprivation We used three items from the Personal Relative DeprivationScale (Tougas et al 1991) ldquoI have the impression that we were less appreciated that
390
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
younger workersrdquo (appreciation) ldquoWe have the impression that our work wasevaluated less well than that of those younger than usrdquo (evaluation) ldquoWe think that wehad less opportunity for promotion that those younger than usrdquo (promotion) Thescale reached a reliability of αfrac14 065 among the participants in this study
Retirement intentions Participants were asked to agree or disagree with fourstatements that reflect different pathways for retirement following the procedure ofprevious studies (Zaniboni et al 2010) full retirement (ldquoI will retire as soon aspossiblerdquo) part-time retirement (ldquoEven when I could already retire I would keep onworking but reducing my actual work timerdquo) late retirement (ldquoEven when I can retireI will keep on workingrdquo) bridge employment (ldquoEven when I can retire I will keep onworking but changing job typerdquo)
Overview of analysesFirst as self-report questionnaires were used to collect the data at the same time fromthe same participants common method variance may be a concern In order to testwhether variance in the data can be largely attributed to a single factor we used thepost hoc Harman one-factor analysis (Podsakoff et al 2003) Second descriptiveanalyses were studied in addition to the inter-correlations of all the variables Third inorder to test our hypothesis we performed structural equation modelling (SEM) usingthe maximum likelihood procedure and the original data as input with AMOS 200 TheSEM model included four latent exogenous variables and four latent endogenousvariables Finally in order to show the potentially differential impacts of the personalretirement-related and contextual variables we run several multivariate regressionanalyses as an anonymous reviewer suggested
To test the fit of the models several indexes are recommended such as χ2 and its levelof probability the goodness of fit index (GFI) and the root mean square error ofapproximation (RMSEA) Comparative indexes have been used such as the Akaikeinformation criterion (AIC) and the Browne-Cudek criterion (BCC) with simpler modelsachieving low values because both indexes penalize complex models with a poor fit to thedata Three more indexes are also used to compare models the Expected Cross-ValidationIndex (ECVI similar to the AIC and the BCC) In both of them the simpler models withbetter fit achieve low values whereas the more complex models with poorer fit reach highscores because both indexes penalize complex models with a poor fit to the data
ResultsIn order to apply the post hoc Harman one-factor analysis (Podsakoff et al 2003) weexamined the results of preliminary exploratory factor analysis which showed that asingle factor only accounted for 24 per cent of the variance Hence a single factorcannot account for the variance in the data and we cannot consider the commonmethod variance to be a serious deficiency in this data set
Table I show the means standard deviations and inter-correlations of the variablesCorrelation matrix analysis provided preliminary support for the hypotheses In thisstudy psychosocial factors were intercorrelated Retirement self-efficacy hadsignificant and negative relations both with older worker identity low workinvolvement low job involvement and relative deprivation At the same time olderworker identity was positively and significantly correlated with relative deprivationConcerning consequences all the variables were highly correlated The relationshipbetween full retirement and the other pathways from work were negative
391
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
In the next step we proceeded to test our SEM models Regarding the retirementintentions model the fit indicators of the original model were inadequateχ2(12)frac14 1723 pfrac14 000 CMINdffrac14 144 GFIfrac14 075 RMSEAfrac14 029 AICfrac14 2203BCCfrac14 2937 ECVIfrac14 147 (CI 90frac14 121178) MECVIfrac14 149 so the model was re-specified The correlations between retirement self-efficacy older worker identity andrelative deprivation were added obtaining a progressively better fit Based on theircritical ratios (CR) statistically nonsignificant relations such as those betweenretirement self-efficacy and bridge employment among others were eliminatedDespite this decision the relationship between relative deprivation and full retirementwas retained due its theoretical meaning The re-specified model showed better fitχ2(7)frac14 374 pfrac14 081 CMINdffrac14 054 GFIfrac14 099 RMSEAfrac14 000 AICfrac14 6175BCCfrac14 6529 Additional analyses have been carried out to test cross-validationECVIfrac14 042 (CI 90frac14 044048) MECVIfrac14 045 showed lower values than the proposedmodels Standardized estimations for the re-specified model can be observed inFigure 2 The percentage of variance explained by the model seems low for eachretirement pathway because it ranges between 07 and 25 per cent
The examination of the standardized estimates in the final model allows us to state thatour hypotheses have been partially confirmed Related to retirement self-efficacy ourresults showed that it was positively related to full retirement and negatively related topartial and late retirement confirming H1b-H1d The relationship between retirementself-efficacy and bridge employment showed the expected direction (H1a) but failed toreach statistical significance
Related to low work involvement only H2a and H2c were supported Directpathways from low work involvement to full retirement and to partial did not showstatistical relevance (H2b and H2d) Low job involvement showed the hypthesizednegative relationship with partial retirement confirming H3b while the othershypotheses have been rejected (H3a-H3d)
Regarding older worker identity our results confirmed the hypothesizedrelationships positive relationship with full retirement (H4d) and negative relationshipwith late retirement (H4c) whereas data failed to confirm our hypotheses for bridgeemployment (H4a) and partial retirement (H4b) due to lack of statistical significanceFinally regarding relative deprivation only H5a-H5d were confirmed by data whereasH4b failed to reach statistical confirmation
Regarding multivariate analyses Table II shows the main results which showedthat the socio-demographic variables failed to account for the variance of the retirementintention outcomes (see Table II) Retirement self-efficacy was the main significantantecedent (for partial late and full-retirement criteria) with older worker identity andrelative deprivation for full retirement Low work involvement and low job involvementfailed to reach statistical significance
Brief discussion on Study 1Study 1 successfully confirmed the proposed hypotheses First retirement self-efficacyand older worker identity showed powerful positive influences on full retirementintention Second late retirement has been negatively influenced by all the psychosocialfactors Finally partial retirement and bridge employment showed a more complexpattern of relationships according to the percentage of variance accounted for the modelA general discussion in deep will be offered later comprising Studies 1 and 2
Study 2The second study investigated the influences of retirement self-efficacy low workinvolvement older worker identity and relative deprivation on retirement adjustmentBased on the literature reviewed we propose the following hypotheses (see Figure 3)
H6 Regarding person-related variables (a) high retirement self-efficacy will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H7 Regarding retirement-related variables (a) low work involvement will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H8 (a) Low job involvement will be positively related to retirement satisfaction(b) negatively related to feelings of anxiety and (c) of depression
H9 Regarding contextual variables (a) strong older worker identity will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
393
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Bridg
eem
ployment
Partialretirem
ent
Late
retirem
ent
Fullretirem
ent
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
002
002
minus000
minus001
minus013
minus014
minus016
minus016
minus002
minus003
minus006
minus007
004
006
008
010
Employed
time
002
minus000
minus000
001
010
002
001
001
002
minus006
minus006
minus003
minus002
012
011
008
Jobseniority
minus009
minus007
minus006
minus007
minus011
minus005
minus003
minus001
003
008
010
011
013
003
002
001
Independ
entvariables
RSE
minus006
minus002
minus005
minus025
minus021
minus022
minus023
minus019
minus024
044
043
049
LWI
minus011
minus007
minus004
minus004
minus014
minus007
011
004
LJI
minus010
minus013
minus020
minus019
minus012
minus015
004
001
OWI
minus005
minus009
minus021
027
RD
minus019
007
minus014
014
F034
038
114
165
102
297
33
262
008
181
251
374
08
816
565
748
ΔF
034
049
264
309
102
864
372
064
008
69
37
68
080
297
068
106
R2
minus001
minus002
000
004
000
005
009
008
minus002
002
010
018
minus000
017
016
027
ΔR2
0007
0003
004
004
002
005
004
000
000
005
005
008
002
017
000
011
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativ
edeprivation
po
005po
001
p
o0001po
010
Table IIResults ofmultivariateregression analysesfor Study 1 (agedworkers)
394
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
H10 (a) High relative deprivation will be negatively related to retirementsatisfaction (b) positively related to feelings of anxiety and (c) of depression
MethodParticipants and procedureThe Study 2 was conducted with retirees (nfrac14 218) and included participants whohad retired at least two years ago Retirees had previously worked in the sameorganizations that the employees of the first sample They were identified bythe research team through personnel archives of these organizations and then thecollaborators of the research team contacted to the potential participants by e-mailexplained to them the purpose of our study and invited them to participate voluntarilyin exchange of a lottery reward Survey packages sets ndash cover letter informed consentquestionnaire and the return envelope ndash were sent to those who agreed to participateCompleted questionnaires and informed consent were mailed back to the researchersusing the pre-paid return envelope A reminder was sent out to all participants to returnthe survey one month later In total 300 questionnaire packages were distributed and235 retirees returned completed forms After excluding those with several missing data(18 per cent) the final sample size included 218 retirees
These participants had a mean age of 68 years (SDfrac14 72) and the mean timeemployed was 382 years (SDfrac14 109) whereas the mean retired time was 65 years(SDfrac14 58) In this study the percentage of men was 706 per cent Job type distributionshowed that the firms were aimed to education (32 per cent) health (30 per cent) services(12 per cent) manufacturing (18 per cent) and others (8 per cent)
MeasuresAntecedent variables for this study were similar to Study 1 Socio-demographic dataretirement self-efficacy older worker identity low work involvement and relativedeprivation were measured as per Study 1 Reliabilities values in this study wereαfrac14 089 for retirement self-efficacy αfrac14 077 for older worker identity αfrac14 079 for low
+
ndash
ndash
+
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
Feelings ofDepression
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
H6a
H6bH6c
H10aH10b
H10c
Older workeridentity
H7a
H9b
H9c
H9a
Low workinvolvement
H7b
H7c
+
ndash
ndash
+
ndash
ndash
+
ndash
ndash
ndash
Low jobinvolvement
H8a
H8b
H8c
ndash
Figure 3Hypothesized model
for Study 2retirement
adjustment model(retirees)
395
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
work involvement and αfrac14 067 for relative deprivation Consequences were measuredas follows
Retirement satisfaction We used the satisfaction with life subscale of the retirementsatisfaction inventory (Floyd et al 1992) which included 11 items Many aspectsincluded are common to other life satisfaction scales (financial resources or interpersonalrelations) whereas other aspects are particularly relevant for future retirees such asaccess to social services or transportation Cronbachrsquos α reliability for the originalsubscale was αfrac14 081 Respondents used a response scale from 1 (totally unsatisfied)to 5 (totally satisfied)
Feelings of anxiety We used a measure of low psychological well-being developedad hoc for the study based on the model of measurement of well-being proposed byWarr (1990) This measure consisted of a single item ldquoIf you think about yourretirement how much anxiety do you feelrdquo The response scale ranged from 1 (verylittle anxiety) to 5 (quite a lot of anxiety)
Feelings of depression We used a measure of low psychological well-being developedad hoc based on Warr (1990) This measure consisted of a single item ldquoIf you thinkabout your retirement how much depression do you feelrdquo The response scale rangedfrom 1 (very little depression) to 5 (quite a lot of depression)
Overview of analysesSimilar procedures have been used to conduct the data analyses for this study applyingrecommendations to minimize the common method variance exploring correlationsamong the variables third testing hypotheses trough a SEM analysis and finallyconducting multivariate regression analyses which allow us introduce antecedents stepby step The SEM model in Study 2 included four latent exogenous variables and threelatent endogenous variables
ResultsThe results of preliminary exploratory factor analysis showed that a single factor onlyaccounted for 235 per cent of the variance (Podsakoff et al 2003) supporting that wecannot consider the common method variance to be a serious deficiency in this data setTable III show the means standard deviations and inter-correlations Psychosocialfactors showed a complex pattern of relationships Retirement self-efficacy wasnegatively related both to older worker identity and to relative deprivation but had anegligible relation with low work involvement Older worker identity had a positiverelationship both with low work involvement low job involvement and relativedeprivation as expected Consequences were significantly related showing an
expected pattern retirement satisfaction had a negative relationship both with feelingsof anxiety and of depression whereas feelings of anxiety and depression werepositively intercorrelated Contrary to our hypotheses relative deprivation showed anegative relationship with depression
Next we proceeded to test the SEM model Fit indicators of the original model wereinadequate χ2(6)frac14 5451 pfrac14 000 CMINdffrac14 908 GFIfrac14 089 RMSEAfrac14 026AICfrac14 9851 BCCfrac14 10165 ECVIfrac14 082 (CI 90frac14 066105) MECVIfrac14 085 so themodel was re-specified The correlations between retirement self-efficacy low workinvolvement older worker identity and relative deprivation were added obtaining aprogressively better fit Based on their CR statistically nonsignificant relations such asthose between low work involvement and anxiety were eliminated The re-specifiedmodel showed better fit χ2(3)frac14 148 pfrac14 069 CMINdffrac14 049 GFIfrac14 099RMSEAfrac14 000 AICfrac14 515 BCCfrac14 5506 Additional analyses have been carried out totest cross-validation ECVIfrac14 043 (CI 90frac14 044048) MECVIfrac14 046 showed lower valuesthan the proposed models Finally the respecified model and its standardized estimationscan be observed in Figure 4 The percentage of variance explained by the modelseems low for each retirement pathway because it ranges between 27 and 34 per cent
The retirement adjustment model showed thatH6a-H6cwere totally confirmed Relatedto low work involvement only H7awas confirmed because the relationships with anxietyand depression failed to confirm H7b and H7c due to their lack of statistical significanceLow job involvement showed significant relationships with feelings of anxiety and thesedata allow us to confirm H8b while both H8b and H8c have been rejected
Older worker identity had a positive relationship with retirement satisfaction butwithout statistical significance (H9a) whereas the relationships with feelings of anxietyand depression proved to be stronger and negative as hypothesized (H9b and H9c)Regarding relative deprivation H10a-H10c were totally confirmed Regardingmultivariate analyses Table IV shows the main results which showed that the socio-demographic variables failed to account for the variance of the retirement adjustmentoutcomes (see Table IV) Retirement self-efficacy was the main significant antecedent
018
Retirementself-efficacy
Feelings ofDepression
032
032
032
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
ndash016
046
ndash048
H6a
H6bH6c
016H10aH10b
H10c
ndash037
025
Older workeridentity
H8a
011 ns
H9bndash026
H9c ndash026
H9a
017
Low jobinvolvement
H8b ndash019
H7a021Low work
involvement
042
027
045
ndash014
ndash024
ndash045
ndash040
045
Notes n= 218 plt005 plt001
Figure 4Standardized
estimates for Study 2(retirement
adjustment model)
397
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Retirem
entsatisfaction
Feelings
ofanxiety
Feelings
ofdepression
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
005
019
017
016
009
minus003
minus007
minus004
006
minus006
minus007
minus002
Employed
time
000
001
000
000
005
004
008
008
009
009
010
011
Retired
time
003
minus008
minus005
minus004
minus025
minus015
minus011
minus012
minus009
minus000
minus002
minus004
Independ
entvariables
RSE
044
044
044
minus040
minus038
minus039
minus041
minus040
minus042
LWI
000
000
021
020
005
004
LJI
013
011
minus017
minus014
minus015
minus009
OWI
007
minus014
minus028
RD
minus006
011
020
F042
123
909
693
275
1225
96
800
100
1055
789
891
ΔF
042
478
215
071
275
3924
366
272
100
387
207
1016
R2
minus000
018
018
018
002
018
020
021
000
015
016
023
ΔR2
0007
019
002
000
003
015
003
002
001
016
002
007
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativedeprivation
po
005
po
001po
0001po
010
Table IVResults ofmultivariateregression analysesfor Study 2 (retirees)
398
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
(for retirement satisfaction anxiety and depression criteria) with low work involvementolder worker identity and relative deprivation for anxiety and depression feelings Lowjob involvement failed to reach statistical significance for the depression analysis
Brief discussion on Study 2Study 2 provided evidence for the proposed pattern of relationships between retirementself-efficacy low work involvement older worker identity and relative deprivation andretirement adjustment among retirees Despite the absence of a significant associationbetween low work involvement and feelings of anxiety and depression it was shown thatretirement well-being was significantly explained by the hypothesized antecedentsGenerally speaking our data confirmed the proposed pattern of relationships betweenpsychosocial factors on the one hand and retirement adjustment on the other handdespite the fact that some of the pathways did not reach sufficient statistical power
General discussionThis work had two goals pursued by two empirical studies with two samples workersover 60 years and retirees Study 1 was aimed to analyse the impact of psychosocialfactors on retirement intentions Study 2 was conducted to confirm the impact of thesame psychosocial factors on retirement adjustment In general we can state that bothgoals were achieved Specifically we contend that the availability of two different sets ofdata increases the generalizability of our findings On the basis of these data it wasshown that conceptualizing retirement as an adjustment process provides a morecomprehensive approach to understanding the phenomena As Wang and Shultz (2010)emphasized this conceptualization views retirement as incorporating both the pathwaysfrom employment to retirement and a post-retirement trajectory which includes efforts toachieve psychological well-being in retirement As Beehr and Bennett (2007) havementioned although much information on the decision to retire is available there is lessinformation particularly in terms of an underlying framework on what happens toindividuals after they retire (Taylor-Carter and Cook 1995) and especially years afterthey have retired In this sense our study contributes to bridge this gap
Retirement intentionsIn a more general sense in Study 1 we attempted to overcome a generalized criticism tothe life course perspective which seems to provide a general framework for analyzingtransitions and for the study of the heterogeneity in the retirement experience but offersfew concrete hypotheses as to how and why specific life course transitions impinge onwell-being (Szinovacz 2003 Van Solinge 2013) As expected our results showed thathigh retirement self-efficacy low work involvement and strong older worker identitytend to decrease intentions to keep on working and in turn they tend to increase fullretirement intentions At the same time relative deprivation shows the opposite patternwith high values increasing intentions to engage in bridge employment and lateretirement Specifically our results are in line with those of Henkens and Tazelaar (1997)and Van Solinge and Henkens (2007) which found that social embeddedness at workcontributes to worker evaluations about the attractiveness to keep on working
These results partially confirm the general tendency of previous findings ofZaniboni and colleagues (2010) notwithstanding that specific instruments and typeof sample and organization were different In this sense our results supported theexpectation that this pattern of intentions would be confirmed with different sectorssuch as private employees It has been suggested that people have mixed intentions
399
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
life course and careers are less predictable and the experiences of transitions ndashvariable complex contingent ndash tend to characterize what was traditionally a well-defined stage within the life course and careers (Van der Heijden et al 2008) In thissense Elder and Johnson (2003) have proposed substituting the concept of trajectoryfor that of transitions to define peoplersquos labour-life course Today researchers agree toconceptualize retirement like as a process rather than a single event (Beehr andBennett 2007 Beehr and Bowling 2013) a complex process that can evolve over timeand can even take a variable period of years to be concluded (Shultz and Wang 2011)during which people must make a number of decisions about their participation in thelabor force (Dingemans and Henkens 2014) As such instead of viewing retirement as afull career exit it can be conceptualized as a late-career development stage thatrecognizes the continued potential for personal growth and redefinition of careers inpeoplersquos retirement life (Wang and Shi 2014 Wang and Shultz 2010)
Based on this approach some authors have therefore suggested that it is moreappropriate to conceptualize retirement as a process of adjustment (Wang 2007 Wangand Shi 2014) By adjustment we refer to the process by which retirees adapt to thechanges in their lives and reach a state of acceptable psychological well-being and comfortwith their retirement life (Van Solinge and Henkens 2008) when they managed potentialsignificant shifts in health finance and activity within the domains of home communityand work (Heskeths et al 2011) This approach emphasizes that it is not the decision toretire in itself the most important but rather the characteristics of the retirement transitionprocess embedded in this decision that are of most relevance (van Solinge and Henkens2008 Wang and Shi 2014) Wang et al (2011) have argued that retirement adjustmentis a process whose experience is contingent on the individual access to economicpsychological social and interpersonal resources and potential changes in these resourcesduring the retirement transition and retirement adaptation (Van Solinge 2013) Thisprogressive adaptation takes place in two scenarios First transition from work toretirement and second post-retirement trajectory (Wang and Shultz 2010)
When conceptualizing retirement as adjustment researchers preferably base this onthe life course theoretical perspective (Elder and Johnson 2003) This approach considersretirement as a transition within the life course and notes that peoplersquos history personalresources and context will affect the diverse pathways they choose and the outcomesthey eventually achieve The life course perspective explicitly locates life transitions inthe social contexts of other roles relations resources developmental processes andevents and personal history So it provides a promising general framework for the studyof the variety of paths in the retirement experience (Van Solinge 2013) Despite this factonly few works adopting this approach have related the stage of transition from work toretirement to post-retirement adjustment (Nuttman-Shwartz 2004 Theriault 1994)
Therefore we conducted two studies to analyse the process of adjustment(transition and post-transition development) and to assess the factors that significantlyexplain both retirement transition and retirement adjustment Study 1 examined theimpact of psychosocial factors on retirement intentions among workers over 60 yearsof age Study 2 investigated the impact of the same psychosocial factors on retirementadjustment using a sample of retirees
Factors predicting retirement transition and retirement adjustmentLife course perspective stated that people who have developed capacities that facilitatea smooth transition will be better prepared will engage in transition at the right timeand will achieve better outcomes Researchers in this field stated that retirement is a
385
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
concept referred to several distinct phenomena (Szinovacz 2003) so it is necessary toadopt a multilevel perspective (Szinovacz 2013) At least retirement should beconceived as a personal experience as a process and as societal institution As personalexperience retirement implies the necessity of different skills which allow the person tocope with multiple changes brought by retirement As a process retirement implicatesdecisions on work withdrawal And as a societal institution retirement influences bothexpectations that older workers should leave to provide job opportunities for youngerworkers and shared perceptions about the older persons as less competent andefficient This conceptualization of retirement allows us to conceived three spheres ofinfluences on retirement transition and adjustment personal variables retirementfactors and contextual factors (Szinovacz 2003) Among the personal variablespsychological resources influence the individualrsquos reactions to the changes associatedwith retirement stressing the relevance of agency in the retirement adjustment process(Van Solinge 2013) In this regard perhaps the most important is the sense of personalmastery or retirement self-efficacy Retirement self-efficacy is the belief that one hasthe knowledge and skills necessary to deal with the changes associated with retirement(Taylor-Carter and Cook 1995) and it has been developed through prior experiences todeal with other transitions A general premise hypothesized that positive levels ofretirement self-efficacy will enhance the positive effects of retirement planning ongeneral adaptation to retirement (Taylor and Schaffer 2013)
Most studies of retirement self-efficacy have analysed the relationships betweenretirement self-efficacy on the one hand and both retirement transition and adjustmenton the other hand (Fretz et al 1989 Harper 2005 Mutran et al 1997 Taylor and Shore1995 Van Solinge and Henkens 2005) Regarding the transition process retirementself-efficacy is likely to affect workersrsquo motivation to retire feelings about futureretirement and motivation to attempt the transition to retirement (Fretz et al 1989Taylor and Shore 1995) At the same time retirement self-efficacy is also likely to affectworkersrsquo efforts for a successful retirement transition their persistence whendifficulties arise their overall future successful retirement transition and satisfactionwith retirement (eg Bandura 1997 Bandura and Jourden 1991) Lastly concerningadjustment retirement self-efficacy influences feelings associated with retirementtransition and workersrsquo mental health (Fretz et al 1989) and that the effect of post-retirement planning on retirement adjustment is mediated by mastery or personalcontrol (Donaldson et al 2010)
Life course theory proposed that people who are less attached to their work are morelikely to deal better with the transition of exiting from work Work involvement hasbeen defined as a degree of attachment to onersquos current job or to work in general(Kanungo 1982) and it was negatively and strongly related to turnover intentions andto actual turnover (Griffeth et al 2000) Regarding retirement intentions to retire areaffected by work involvement specifically at late-career (Post et al 2013) and manyolder employees disengage more from work when getting closer to their plannedretirement age (Damman et al 2013)
Work involvement will affect peoplersquos desire to remain active (Taylor-Carter andCook 1995) Previous research have distinguished work involvement from jobinvolvement (Kanungo 1982) considering that the first is attachment to work ingeneral while the second is related but different Hence if people have attitudes of lowwork or job involvement their intention to quit will probably be high whereas theirintention to continue working ndash for example by means of bridge employment ndash will belower Likewise if people are less involved with their work or their job during their
386
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
occupational life they can be expected to adapt more easily to the new retirementsituation as work did not occupy a core position in their life prior to retirementNevertheless previous research has found inconsistent results for instance somestudies (Quick and Moen 1998 Reitzes and Mutran 2006) found that identification withthe work role positively impacted on adjustment for up to 24 months after theretirement event whereasWong and Earl (2009) found that work centrality was neitherrelated to retirement adjustment nor to post-retirement activity levels
The life course perspective also argues that the experience of transition will becontingent with the specific context surrounding the person Taking into account thataged workers ndash like everyone else ndash want to maintain a positive identity and becauseresearch would indicate that identification with working increases in importance withage (Baltes et al 2012) some authors proposed that the experience of unfavourabletreatment discrimination in career opportunities etc can lead to internalization ofnegative characteristics such as low motivation resistance to change and lack ofinterest or of creativity (Tougas et al 2004) According to these suggestions studieshave proposed the existence of older worker identity (Roberto and Biggan 2014 Urickand Hollensbe 2014) or late-career worker identity (Bayl-Smith and Griffin 2014) andits influence both on transition to retirement and adjustment to retirement Specificallyolder worker identity will impact on negative attitudes towards work (Desmette andGaillard 2008) and on behaviours such as bridge employment ndash in a negative sense ndashand full retirement ndash in a positive sense (Zaniboni et al 2010) Related to adjustmentolder worker identity has shown positive impact on retirement satisfaction and onpsychological health during retirement (Michinov et al 2008) Due to this we includedolder worker identity as the first variable among the contextual factors of our analysis
Lastly life course the ecological perspective emphasizes that the contextualembeddedness is particularly important because the experience of life transitionsand retirement is played out in a network of shifting social relations and resourcesembedded within the social context often help retirees to adjust to retirement(Van Solinge 2013 Wang and Shultz 2010) Relative deprivation refers to the feelingof discontent experienced as a result of individual comparisons with others (Runciman1966) Relative deprivation includes two components the cognitive one refers to socialcomparisons and the affective one includes feelings of dissatisfaction At the personallevel feelings of relative deprivation emerge when individuals are dissatisfied withtheir own situation in comparison to that of others In this sense individual relativedeprivation is an important factor that will affect both retirement transition andadjustment According to this point some researchers have shown that the importanceof social networks contributes to onersquos personal appraisal of the attractiveness ofremaining at work (Henkens and Tazelaar 1997) Indeed due to the fact that loss ofsocial relationships will be a certain outcome of full retirement relative deprivation willbe negatively related to total retirement whereas its relationships with alternativepathways from work will be positive
Related to retirement adjustment it will be probably affected by relative deprivationbecause the loss of social relations will affect retirement satisfaction negatively andanxiety and depression positively In a general sense Smith et al (2011) meta-analysedthe outcome variables of relative deprivation finding that it was associated withpersonal responses such as psychological stress depression and anxiety Within thecontext of retirement researchers have reported that social isolation was associatedwith lower retirement satisfaction and less happiness during retirement (Vanderhorstand McLaren 2005)
387
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Retirement intentions and retirement adjustment outcomesThe conceptualization of retirement as an adjustment process allows us to explain whypeople make the same decision to retire but their chosen pathways to exit from worklead them to very different outcomes In this sense this work proposes to explore theimpact of the diverse above-mentioned psychosocial factors on the choice of the diversepathways to exit from work Considering the possible pathways to exit most authorshave used various categories that summarize the broad range of retirement intentionsin full retirement ndash in the sense of a ldquocold turkeyrdquo or abrupt retirement (Calvo et al2009) ndash partial retirement gradual or phased retirement late retirement bridgeemployment and re-entry (Alcover et al 2014 Cahill et al 2013)
Regarding retirement adjustment both the positive and the negative aspectswould be taken into account As Floyd et al (1992) stated the most essential index ofsubjective well-being for an individual is the personrsquos judgement of quality of lifeMaintaining satisfaction during retirement is associated with replacing rewardsgained from work activities with rewarding leisure activities so that the retireemaintains a stable ratio of reinforcements from pre- to post-retirement Retirementsatisfaction has been widely used as the main positive indicator of adjustment duringretirement and global indices of satisfaction appear to be relevant for all age groups(Floyd et al 1992) At the same time poor health has long been established as one ofthe most critical determinants of retirement behaviour but most previous studiesfocused on physical health while mental health also plays an important role forfunctioning and well-being in the retirement process (Kim and Moen 2002 Wang2007) The most common forms of mental illness in the European Union are anxietyand depression and empirical studies have included feelings of anxiety anddepression as indicators of adjustment in later life (Fletcher and Hansson 1991)Retirement anxiety is a generalized feeling of apprehension or worry regardinguncertain unpredictable and potentially disruptive consequences of retirementSpecifically related to relative deprivation a recent meta-analysis included feelingsof anxiety and depression as internal responses (Smith et al 2011)
The current investigationTwo studies examined the influence of psychosocial factors both on retirementintentions and retirement adjustment These studies focused on participants proximalto the retirement experience to ensure a proper examination of the common variablesthat affect both transitions and post-transition development
Study 1 examined whether retirement self-efficacy low work involvement low jobinvolvement older worker identity and relative deprivation significantly explainedretirement intentions (bridge employment engagement part-time retirement lateretirement and full retirement) of workers over 60 years Study 2 expanded this modelwith a new sample of recent retirees examining the relationships between retirementself-efficacy low work involvement low job involvement older worker identity andrelative deprivation significantly explained retirement adjustment (retirementsatisfaction feelings of anxiety and depression) The antecedent variables for Study 1and for Study 2 were the same while the outcome variables differed in both studies
Study 1The first study investigated the influences of retirement self-efficacy low workinvolvement low job involvement older worker identity and relative deprivation on
388
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement intentions Based on the literature reviewed we propose the followinghypotheses (see Figure 1)
H1 Regarding person-related variables (a) high retirement self-efficacy will benegatively related to bridge employment (b) to partial (c) late retirement and (d)positively related to full retirement
H2 Regarding retirement-related variables (a) low work involvement will benegatively related to bridge employment (b) to partial (c) late retirement and(d) positively related to full retirement
H3 (a) Low job involvement will be negatively related to bridge employment (b) topartial (c) late retirement and (d) positively related to full retirement
H4 Regarding contextual variables (a) strong older worker identity will benegatively related to bridge employment (b) to partial (c) late retirement and(d) positively related to full retirement
H5 (a) High relative deprivation will be negatively related to bridge employment(b) to partial (c) late retirement and (d) positively related to full retirement
MethodParticipants and procedureAged workers (nfrac14 157) from several Spanish firms participated in this studyParticipants were recruited due to their proximal anticipation of retirement becausethey were already aged 60 We contacted potential participants on the basis of thepersonnel list of the organizations explained to them the purpose of our study andinvited them to participate in our research Survey packages sets were distributed tothose who agreed to participate by collaborators of the research team who performedthe task after having received precise instructions in order to homogenize theadministration procedure Each set contains a cover letter an informed consent a
ndash
ndash
ndash
+
ndash
ndash
ndash
+
ndash
+
ndash
ndash
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
FullRetirement
Lateretirement
Part-timeretirement
Relativedeprivation
BridgeEmploymentH1b
H1cH1d
H5a
H5cH5d
H3aH3b
Older workeridentity
H3c
H4d
H1a
H3d
H4a H4b
H5b
H4c
Low workinvolvement
ndash
+
+
ndash
ndash
ndash
ndashndash
Low jobinvolvement
H2a
H2b
H2c
H2d
Figure 1Hypothesized model
for Study 1retirement intentions
model (agedworkers)
389
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
questionnaire and a return envelope In the cover letter participants were informed ofthe goal of the study and the anonymity of the data collected Participants wereinformed about the study objectives the variables included on it their rights regardingpersonal data protection and his explicit agreement to participate voluntarily in thestudy Then they completed a workbook containing the diverse scales of the studyCompleted questionnaires and informed consent were mailed back to the researchersdirectly using the pre-paid return envelope included in the survey set A reminderwas sent out to all participants to return the survey one month later In total200 questionnaire packages were distributed and 180 aged workers returned completedforms After excluding returned surveys that had missing data (25 per cent) the finalsample size of participants for analysis was 157
Descriptive analyses showed that mean age was 60 years (SDfrac14 43) The mean timeemployed was 369 years (SDfrac14 87) whereas the mean time in the same organizationwas 255 years (SDfrac14 109) In this sample the percentage of men was 551 per cent Jobtype distribution showed that the firms were aimed to education (28 per cent) health(26 per cent) services (16 per cent) manufacturing (15 per cent) others (15 per cent)
MeasuresSocio-demographic data Participants provided information about their age genderseniority in their organizations and employed time
Retirement self-efficacy We used 13 items of the Retirement Self-Efficacy Scale(Harper 2005) which provides a set of items that focus on confidence in performing awide variety of the subtasks of retirement health financial activities government andpension regulations and retirement itself Cronbachrsquos coefficient of αfrac14 097 has beenreported Response scales ranged from 1 (very little confidence) to 5 (quite a lot ofconfidence) Examples of items are ldquoCope with changes in retirementrdquo ldquoPlan leisuretimerdquo ldquoAdjust successfully to retirementrdquo ldquoMaintain any current skills or knowledge thatyou want to maintainrdquo or ldquoRemain active at homerdquo Reliability in this study was αfrac14 092
Older worker identity We used the self-descriptive component of the Older WorkerIdentity Scale (Tougas et al 2004) which includes ten items from the original scaleThe questionnaire required participants to appraise their motivation creativity andflexibility on a five-point scale ranging between 1 (totally disagree) and 5 (totally agree)The scale reached a reliability of αfrac14 080 among participants in this study Examplesof items are ldquoI amwas less effective in accomplishing my workrdquo ldquoI became lesscreative in accomplishing my workrdquo ldquoI amwas no longer motivated to accomplish mytasksrdquo and ldquoI became less adaptable and flexiblerdquo
Low work involvement The work involvement questionnaire (Kanungo 1982) wasused We included two items ldquoThe most important things that happen to me involvemy present workrdquo ldquoMost of my personal life goals are work-orientedrdquo Items werereversed to reflect low involvement Response scale ranged from 1 (totally disagree) to5 (totally agree) This scale reached αfrac14 085 in this study
Low job involvement The job involvement questionnaire (Kanungo 1982) was usedWe included two items ldquoMost of my interests are centred on my jobrdquo ldquoI consider my jobto be very central to my existencerdquo Items were reversed to reflect low involvementResponse scale ranged from 1 (totally disagree) to 5 (totally agree) This scale reachedαfrac14 083 in this study
Relative deprivation We used three items from the Personal Relative DeprivationScale (Tougas et al 1991) ldquoI have the impression that we were less appreciated that
390
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
younger workersrdquo (appreciation) ldquoWe have the impression that our work wasevaluated less well than that of those younger than usrdquo (evaluation) ldquoWe think that wehad less opportunity for promotion that those younger than usrdquo (promotion) Thescale reached a reliability of αfrac14 065 among the participants in this study
Retirement intentions Participants were asked to agree or disagree with fourstatements that reflect different pathways for retirement following the procedure ofprevious studies (Zaniboni et al 2010) full retirement (ldquoI will retire as soon aspossiblerdquo) part-time retirement (ldquoEven when I could already retire I would keep onworking but reducing my actual work timerdquo) late retirement (ldquoEven when I can retireI will keep on workingrdquo) bridge employment (ldquoEven when I can retire I will keep onworking but changing job typerdquo)
Overview of analysesFirst as self-report questionnaires were used to collect the data at the same time fromthe same participants common method variance may be a concern In order to testwhether variance in the data can be largely attributed to a single factor we used thepost hoc Harman one-factor analysis (Podsakoff et al 2003) Second descriptiveanalyses were studied in addition to the inter-correlations of all the variables Third inorder to test our hypothesis we performed structural equation modelling (SEM) usingthe maximum likelihood procedure and the original data as input with AMOS 200 TheSEM model included four latent exogenous variables and four latent endogenousvariables Finally in order to show the potentially differential impacts of the personalretirement-related and contextual variables we run several multivariate regressionanalyses as an anonymous reviewer suggested
To test the fit of the models several indexes are recommended such as χ2 and its levelof probability the goodness of fit index (GFI) and the root mean square error ofapproximation (RMSEA) Comparative indexes have been used such as the Akaikeinformation criterion (AIC) and the Browne-Cudek criterion (BCC) with simpler modelsachieving low values because both indexes penalize complex models with a poor fit to thedata Three more indexes are also used to compare models the Expected Cross-ValidationIndex (ECVI similar to the AIC and the BCC) In both of them the simpler models withbetter fit achieve low values whereas the more complex models with poorer fit reach highscores because both indexes penalize complex models with a poor fit to the data
ResultsIn order to apply the post hoc Harman one-factor analysis (Podsakoff et al 2003) weexamined the results of preliminary exploratory factor analysis which showed that asingle factor only accounted for 24 per cent of the variance Hence a single factorcannot account for the variance in the data and we cannot consider the commonmethod variance to be a serious deficiency in this data set
Table I show the means standard deviations and inter-correlations of the variablesCorrelation matrix analysis provided preliminary support for the hypotheses In thisstudy psychosocial factors were intercorrelated Retirement self-efficacy hadsignificant and negative relations both with older worker identity low workinvolvement low job involvement and relative deprivation At the same time olderworker identity was positively and significantly correlated with relative deprivationConcerning consequences all the variables were highly correlated The relationshipbetween full retirement and the other pathways from work were negative
391
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
In the next step we proceeded to test our SEM models Regarding the retirementintentions model the fit indicators of the original model were inadequateχ2(12)frac14 1723 pfrac14 000 CMINdffrac14 144 GFIfrac14 075 RMSEAfrac14 029 AICfrac14 2203BCCfrac14 2937 ECVIfrac14 147 (CI 90frac14 121178) MECVIfrac14 149 so the model was re-specified The correlations between retirement self-efficacy older worker identity andrelative deprivation were added obtaining a progressively better fit Based on theircritical ratios (CR) statistically nonsignificant relations such as those betweenretirement self-efficacy and bridge employment among others were eliminatedDespite this decision the relationship between relative deprivation and full retirementwas retained due its theoretical meaning The re-specified model showed better fitχ2(7)frac14 374 pfrac14 081 CMINdffrac14 054 GFIfrac14 099 RMSEAfrac14 000 AICfrac14 6175BCCfrac14 6529 Additional analyses have been carried out to test cross-validationECVIfrac14 042 (CI 90frac14 044048) MECVIfrac14 045 showed lower values than the proposedmodels Standardized estimations for the re-specified model can be observed inFigure 2 The percentage of variance explained by the model seems low for eachretirement pathway because it ranges between 07 and 25 per cent
The examination of the standardized estimates in the final model allows us to state thatour hypotheses have been partially confirmed Related to retirement self-efficacy ourresults showed that it was positively related to full retirement and negatively related topartial and late retirement confirming H1b-H1d The relationship between retirementself-efficacy and bridge employment showed the expected direction (H1a) but failed toreach statistical significance
Related to low work involvement only H2a and H2c were supported Directpathways from low work involvement to full retirement and to partial did not showstatistical relevance (H2b and H2d) Low job involvement showed the hypthesizednegative relationship with partial retirement confirming H3b while the othershypotheses have been rejected (H3a-H3d)
Regarding older worker identity our results confirmed the hypothesizedrelationships positive relationship with full retirement (H4d) and negative relationshipwith late retirement (H4c) whereas data failed to confirm our hypotheses for bridgeemployment (H4a) and partial retirement (H4b) due to lack of statistical significanceFinally regarding relative deprivation only H5a-H5d were confirmed by data whereasH4b failed to reach statistical confirmation
Regarding multivariate analyses Table II shows the main results which showedthat the socio-demographic variables failed to account for the variance of the retirementintention outcomes (see Table II) Retirement self-efficacy was the main significantantecedent (for partial late and full-retirement criteria) with older worker identity andrelative deprivation for full retirement Low work involvement and low job involvementfailed to reach statistical significance
Brief discussion on Study 1Study 1 successfully confirmed the proposed hypotheses First retirement self-efficacyand older worker identity showed powerful positive influences on full retirementintention Second late retirement has been negatively influenced by all the psychosocialfactors Finally partial retirement and bridge employment showed a more complexpattern of relationships according to the percentage of variance accounted for the modelA general discussion in deep will be offered later comprising Studies 1 and 2
Study 2The second study investigated the influences of retirement self-efficacy low workinvolvement older worker identity and relative deprivation on retirement adjustmentBased on the literature reviewed we propose the following hypotheses (see Figure 3)
H6 Regarding person-related variables (a) high retirement self-efficacy will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H7 Regarding retirement-related variables (a) low work involvement will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H8 (a) Low job involvement will be positively related to retirement satisfaction(b) negatively related to feelings of anxiety and (c) of depression
H9 Regarding contextual variables (a) strong older worker identity will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
393
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Bridg
eem
ployment
Partialretirem
ent
Late
retirem
ent
Fullretirem
ent
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
002
002
minus000
minus001
minus013
minus014
minus016
minus016
minus002
minus003
minus006
minus007
004
006
008
010
Employed
time
002
minus000
minus000
001
010
002
001
001
002
minus006
minus006
minus003
minus002
012
011
008
Jobseniority
minus009
minus007
minus006
minus007
minus011
minus005
minus003
minus001
003
008
010
011
013
003
002
001
Independ
entvariables
RSE
minus006
minus002
minus005
minus025
minus021
minus022
minus023
minus019
minus024
044
043
049
LWI
minus011
minus007
minus004
minus004
minus014
minus007
011
004
LJI
minus010
minus013
minus020
minus019
minus012
minus015
004
001
OWI
minus005
minus009
minus021
027
RD
minus019
007
minus014
014
F034
038
114
165
102
297
33
262
008
181
251
374
08
816
565
748
ΔF
034
049
264
309
102
864
372
064
008
69
37
68
080
297
068
106
R2
minus001
minus002
000
004
000
005
009
008
minus002
002
010
018
minus000
017
016
027
ΔR2
0007
0003
004
004
002
005
004
000
000
005
005
008
002
017
000
011
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativ
edeprivation
po
005po
001
p
o0001po
010
Table IIResults ofmultivariateregression analysesfor Study 1 (agedworkers)
394
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
H10 (a) High relative deprivation will be negatively related to retirementsatisfaction (b) positively related to feelings of anxiety and (c) of depression
MethodParticipants and procedureThe Study 2 was conducted with retirees (nfrac14 218) and included participants whohad retired at least two years ago Retirees had previously worked in the sameorganizations that the employees of the first sample They were identified bythe research team through personnel archives of these organizations and then thecollaborators of the research team contacted to the potential participants by e-mailexplained to them the purpose of our study and invited them to participate voluntarilyin exchange of a lottery reward Survey packages sets ndash cover letter informed consentquestionnaire and the return envelope ndash were sent to those who agreed to participateCompleted questionnaires and informed consent were mailed back to the researchersusing the pre-paid return envelope A reminder was sent out to all participants to returnthe survey one month later In total 300 questionnaire packages were distributed and235 retirees returned completed forms After excluding those with several missing data(18 per cent) the final sample size included 218 retirees
These participants had a mean age of 68 years (SDfrac14 72) and the mean timeemployed was 382 years (SDfrac14 109) whereas the mean retired time was 65 years(SDfrac14 58) In this study the percentage of men was 706 per cent Job type distributionshowed that the firms were aimed to education (32 per cent) health (30 per cent) services(12 per cent) manufacturing (18 per cent) and others (8 per cent)
MeasuresAntecedent variables for this study were similar to Study 1 Socio-demographic dataretirement self-efficacy older worker identity low work involvement and relativedeprivation were measured as per Study 1 Reliabilities values in this study wereαfrac14 089 for retirement self-efficacy αfrac14 077 for older worker identity αfrac14 079 for low
+
ndash
ndash
+
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
Feelings ofDepression
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
H6a
H6bH6c
H10aH10b
H10c
Older workeridentity
H7a
H9b
H9c
H9a
Low workinvolvement
H7b
H7c
+
ndash
ndash
+
ndash
ndash
+
ndash
ndash
ndash
Low jobinvolvement
H8a
H8b
H8c
ndash
Figure 3Hypothesized model
for Study 2retirement
adjustment model(retirees)
395
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
work involvement and αfrac14 067 for relative deprivation Consequences were measuredas follows
Retirement satisfaction We used the satisfaction with life subscale of the retirementsatisfaction inventory (Floyd et al 1992) which included 11 items Many aspectsincluded are common to other life satisfaction scales (financial resources or interpersonalrelations) whereas other aspects are particularly relevant for future retirees such asaccess to social services or transportation Cronbachrsquos α reliability for the originalsubscale was αfrac14 081 Respondents used a response scale from 1 (totally unsatisfied)to 5 (totally satisfied)
Feelings of anxiety We used a measure of low psychological well-being developedad hoc for the study based on the model of measurement of well-being proposed byWarr (1990) This measure consisted of a single item ldquoIf you think about yourretirement how much anxiety do you feelrdquo The response scale ranged from 1 (verylittle anxiety) to 5 (quite a lot of anxiety)
Feelings of depression We used a measure of low psychological well-being developedad hoc based on Warr (1990) This measure consisted of a single item ldquoIf you thinkabout your retirement how much depression do you feelrdquo The response scale rangedfrom 1 (very little depression) to 5 (quite a lot of depression)
Overview of analysesSimilar procedures have been used to conduct the data analyses for this study applyingrecommendations to minimize the common method variance exploring correlationsamong the variables third testing hypotheses trough a SEM analysis and finallyconducting multivariate regression analyses which allow us introduce antecedents stepby step The SEM model in Study 2 included four latent exogenous variables and threelatent endogenous variables
ResultsThe results of preliminary exploratory factor analysis showed that a single factor onlyaccounted for 235 per cent of the variance (Podsakoff et al 2003) supporting that wecannot consider the common method variance to be a serious deficiency in this data setTable III show the means standard deviations and inter-correlations Psychosocialfactors showed a complex pattern of relationships Retirement self-efficacy wasnegatively related both to older worker identity and to relative deprivation but had anegligible relation with low work involvement Older worker identity had a positiverelationship both with low work involvement low job involvement and relativedeprivation as expected Consequences were significantly related showing an
expected pattern retirement satisfaction had a negative relationship both with feelingsof anxiety and of depression whereas feelings of anxiety and depression werepositively intercorrelated Contrary to our hypotheses relative deprivation showed anegative relationship with depression
Next we proceeded to test the SEM model Fit indicators of the original model wereinadequate χ2(6)frac14 5451 pfrac14 000 CMINdffrac14 908 GFIfrac14 089 RMSEAfrac14 026AICfrac14 9851 BCCfrac14 10165 ECVIfrac14 082 (CI 90frac14 066105) MECVIfrac14 085 so themodel was re-specified The correlations between retirement self-efficacy low workinvolvement older worker identity and relative deprivation were added obtaining aprogressively better fit Based on their CR statistically nonsignificant relations such asthose between low work involvement and anxiety were eliminated The re-specifiedmodel showed better fit χ2(3)frac14 148 pfrac14 069 CMINdffrac14 049 GFIfrac14 099RMSEAfrac14 000 AICfrac14 515 BCCfrac14 5506 Additional analyses have been carried out totest cross-validation ECVIfrac14 043 (CI 90frac14 044048) MECVIfrac14 046 showed lower valuesthan the proposed models Finally the respecified model and its standardized estimationscan be observed in Figure 4 The percentage of variance explained by the modelseems low for each retirement pathway because it ranges between 27 and 34 per cent
The retirement adjustment model showed thatH6a-H6cwere totally confirmed Relatedto low work involvement only H7awas confirmed because the relationships with anxietyand depression failed to confirm H7b and H7c due to their lack of statistical significanceLow job involvement showed significant relationships with feelings of anxiety and thesedata allow us to confirm H8b while both H8b and H8c have been rejected
Older worker identity had a positive relationship with retirement satisfaction butwithout statistical significance (H9a) whereas the relationships with feelings of anxietyand depression proved to be stronger and negative as hypothesized (H9b and H9c)Regarding relative deprivation H10a-H10c were totally confirmed Regardingmultivariate analyses Table IV shows the main results which showed that the socio-demographic variables failed to account for the variance of the retirement adjustmentoutcomes (see Table IV) Retirement self-efficacy was the main significant antecedent
018
Retirementself-efficacy
Feelings ofDepression
032
032
032
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
ndash016
046
ndash048
H6a
H6bH6c
016H10aH10b
H10c
ndash037
025
Older workeridentity
H8a
011 ns
H9bndash026
H9c ndash026
H9a
017
Low jobinvolvement
H8b ndash019
H7a021Low work
involvement
042
027
045
ndash014
ndash024
ndash045
ndash040
045
Notes n= 218 plt005 plt001
Figure 4Standardized
estimates for Study 2(retirement
adjustment model)
397
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Retirem
entsatisfaction
Feelings
ofanxiety
Feelings
ofdepression
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
005
019
017
016
009
minus003
minus007
minus004
006
minus006
minus007
minus002
Employed
time
000
001
000
000
005
004
008
008
009
009
010
011
Retired
time
003
minus008
minus005
minus004
minus025
minus015
minus011
minus012
minus009
minus000
minus002
minus004
Independ
entvariables
RSE
044
044
044
minus040
minus038
minus039
minus041
minus040
minus042
LWI
000
000
021
020
005
004
LJI
013
011
minus017
minus014
minus015
minus009
OWI
007
minus014
minus028
RD
minus006
011
020
F042
123
909
693
275
1225
96
800
100
1055
789
891
ΔF
042
478
215
071
275
3924
366
272
100
387
207
1016
R2
minus000
018
018
018
002
018
020
021
000
015
016
023
ΔR2
0007
019
002
000
003
015
003
002
001
016
002
007
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativedeprivation
po
005
po
001po
0001po
010
Table IVResults ofmultivariateregression analysesfor Study 2 (retirees)
398
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
(for retirement satisfaction anxiety and depression criteria) with low work involvementolder worker identity and relative deprivation for anxiety and depression feelings Lowjob involvement failed to reach statistical significance for the depression analysis
Brief discussion on Study 2Study 2 provided evidence for the proposed pattern of relationships between retirementself-efficacy low work involvement older worker identity and relative deprivation andretirement adjustment among retirees Despite the absence of a significant associationbetween low work involvement and feelings of anxiety and depression it was shown thatretirement well-being was significantly explained by the hypothesized antecedentsGenerally speaking our data confirmed the proposed pattern of relationships betweenpsychosocial factors on the one hand and retirement adjustment on the other handdespite the fact that some of the pathways did not reach sufficient statistical power
General discussionThis work had two goals pursued by two empirical studies with two samples workersover 60 years and retirees Study 1 was aimed to analyse the impact of psychosocialfactors on retirement intentions Study 2 was conducted to confirm the impact of thesame psychosocial factors on retirement adjustment In general we can state that bothgoals were achieved Specifically we contend that the availability of two different sets ofdata increases the generalizability of our findings On the basis of these data it wasshown that conceptualizing retirement as an adjustment process provides a morecomprehensive approach to understanding the phenomena As Wang and Shultz (2010)emphasized this conceptualization views retirement as incorporating both the pathwaysfrom employment to retirement and a post-retirement trajectory which includes efforts toachieve psychological well-being in retirement As Beehr and Bennett (2007) havementioned although much information on the decision to retire is available there is lessinformation particularly in terms of an underlying framework on what happens toindividuals after they retire (Taylor-Carter and Cook 1995) and especially years afterthey have retired In this sense our study contributes to bridge this gap
Retirement intentionsIn a more general sense in Study 1 we attempted to overcome a generalized criticism tothe life course perspective which seems to provide a general framework for analyzingtransitions and for the study of the heterogeneity in the retirement experience but offersfew concrete hypotheses as to how and why specific life course transitions impinge onwell-being (Szinovacz 2003 Van Solinge 2013) As expected our results showed thathigh retirement self-efficacy low work involvement and strong older worker identitytend to decrease intentions to keep on working and in turn they tend to increase fullretirement intentions At the same time relative deprivation shows the opposite patternwith high values increasing intentions to engage in bridge employment and lateretirement Specifically our results are in line with those of Henkens and Tazelaar (1997)and Van Solinge and Henkens (2007) which found that social embeddedness at workcontributes to worker evaluations about the attractiveness to keep on working
These results partially confirm the general tendency of previous findings ofZaniboni and colleagues (2010) notwithstanding that specific instruments and typeof sample and organization were different In this sense our results supported theexpectation that this pattern of intentions would be confirmed with different sectorssuch as private employees It has been suggested that people have mixed intentions
399
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
concept referred to several distinct phenomena (Szinovacz 2003) so it is necessary toadopt a multilevel perspective (Szinovacz 2013) At least retirement should beconceived as a personal experience as a process and as societal institution As personalexperience retirement implies the necessity of different skills which allow the person tocope with multiple changes brought by retirement As a process retirement implicatesdecisions on work withdrawal And as a societal institution retirement influences bothexpectations that older workers should leave to provide job opportunities for youngerworkers and shared perceptions about the older persons as less competent andefficient This conceptualization of retirement allows us to conceived three spheres ofinfluences on retirement transition and adjustment personal variables retirementfactors and contextual factors (Szinovacz 2003) Among the personal variablespsychological resources influence the individualrsquos reactions to the changes associatedwith retirement stressing the relevance of agency in the retirement adjustment process(Van Solinge 2013) In this regard perhaps the most important is the sense of personalmastery or retirement self-efficacy Retirement self-efficacy is the belief that one hasthe knowledge and skills necessary to deal with the changes associated with retirement(Taylor-Carter and Cook 1995) and it has been developed through prior experiences todeal with other transitions A general premise hypothesized that positive levels ofretirement self-efficacy will enhance the positive effects of retirement planning ongeneral adaptation to retirement (Taylor and Schaffer 2013)
Most studies of retirement self-efficacy have analysed the relationships betweenretirement self-efficacy on the one hand and both retirement transition and adjustmenton the other hand (Fretz et al 1989 Harper 2005 Mutran et al 1997 Taylor and Shore1995 Van Solinge and Henkens 2005) Regarding the transition process retirementself-efficacy is likely to affect workersrsquo motivation to retire feelings about futureretirement and motivation to attempt the transition to retirement (Fretz et al 1989Taylor and Shore 1995) At the same time retirement self-efficacy is also likely to affectworkersrsquo efforts for a successful retirement transition their persistence whendifficulties arise their overall future successful retirement transition and satisfactionwith retirement (eg Bandura 1997 Bandura and Jourden 1991) Lastly concerningadjustment retirement self-efficacy influences feelings associated with retirementtransition and workersrsquo mental health (Fretz et al 1989) and that the effect of post-retirement planning on retirement adjustment is mediated by mastery or personalcontrol (Donaldson et al 2010)
Life course theory proposed that people who are less attached to their work are morelikely to deal better with the transition of exiting from work Work involvement hasbeen defined as a degree of attachment to onersquos current job or to work in general(Kanungo 1982) and it was negatively and strongly related to turnover intentions andto actual turnover (Griffeth et al 2000) Regarding retirement intentions to retire areaffected by work involvement specifically at late-career (Post et al 2013) and manyolder employees disengage more from work when getting closer to their plannedretirement age (Damman et al 2013)
Work involvement will affect peoplersquos desire to remain active (Taylor-Carter andCook 1995) Previous research have distinguished work involvement from jobinvolvement (Kanungo 1982) considering that the first is attachment to work ingeneral while the second is related but different Hence if people have attitudes of lowwork or job involvement their intention to quit will probably be high whereas theirintention to continue working ndash for example by means of bridge employment ndash will belower Likewise if people are less involved with their work or their job during their
386
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
occupational life they can be expected to adapt more easily to the new retirementsituation as work did not occupy a core position in their life prior to retirementNevertheless previous research has found inconsistent results for instance somestudies (Quick and Moen 1998 Reitzes and Mutran 2006) found that identification withthe work role positively impacted on adjustment for up to 24 months after theretirement event whereasWong and Earl (2009) found that work centrality was neitherrelated to retirement adjustment nor to post-retirement activity levels
The life course perspective also argues that the experience of transition will becontingent with the specific context surrounding the person Taking into account thataged workers ndash like everyone else ndash want to maintain a positive identity and becauseresearch would indicate that identification with working increases in importance withage (Baltes et al 2012) some authors proposed that the experience of unfavourabletreatment discrimination in career opportunities etc can lead to internalization ofnegative characteristics such as low motivation resistance to change and lack ofinterest or of creativity (Tougas et al 2004) According to these suggestions studieshave proposed the existence of older worker identity (Roberto and Biggan 2014 Urickand Hollensbe 2014) or late-career worker identity (Bayl-Smith and Griffin 2014) andits influence both on transition to retirement and adjustment to retirement Specificallyolder worker identity will impact on negative attitudes towards work (Desmette andGaillard 2008) and on behaviours such as bridge employment ndash in a negative sense ndashand full retirement ndash in a positive sense (Zaniboni et al 2010) Related to adjustmentolder worker identity has shown positive impact on retirement satisfaction and onpsychological health during retirement (Michinov et al 2008) Due to this we includedolder worker identity as the first variable among the contextual factors of our analysis
Lastly life course the ecological perspective emphasizes that the contextualembeddedness is particularly important because the experience of life transitionsand retirement is played out in a network of shifting social relations and resourcesembedded within the social context often help retirees to adjust to retirement(Van Solinge 2013 Wang and Shultz 2010) Relative deprivation refers to the feelingof discontent experienced as a result of individual comparisons with others (Runciman1966) Relative deprivation includes two components the cognitive one refers to socialcomparisons and the affective one includes feelings of dissatisfaction At the personallevel feelings of relative deprivation emerge when individuals are dissatisfied withtheir own situation in comparison to that of others In this sense individual relativedeprivation is an important factor that will affect both retirement transition andadjustment According to this point some researchers have shown that the importanceof social networks contributes to onersquos personal appraisal of the attractiveness ofremaining at work (Henkens and Tazelaar 1997) Indeed due to the fact that loss ofsocial relationships will be a certain outcome of full retirement relative deprivation willbe negatively related to total retirement whereas its relationships with alternativepathways from work will be positive
Related to retirement adjustment it will be probably affected by relative deprivationbecause the loss of social relations will affect retirement satisfaction negatively andanxiety and depression positively In a general sense Smith et al (2011) meta-analysedthe outcome variables of relative deprivation finding that it was associated withpersonal responses such as psychological stress depression and anxiety Within thecontext of retirement researchers have reported that social isolation was associatedwith lower retirement satisfaction and less happiness during retirement (Vanderhorstand McLaren 2005)
387
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Retirement intentions and retirement adjustment outcomesThe conceptualization of retirement as an adjustment process allows us to explain whypeople make the same decision to retire but their chosen pathways to exit from worklead them to very different outcomes In this sense this work proposes to explore theimpact of the diverse above-mentioned psychosocial factors on the choice of the diversepathways to exit from work Considering the possible pathways to exit most authorshave used various categories that summarize the broad range of retirement intentionsin full retirement ndash in the sense of a ldquocold turkeyrdquo or abrupt retirement (Calvo et al2009) ndash partial retirement gradual or phased retirement late retirement bridgeemployment and re-entry (Alcover et al 2014 Cahill et al 2013)
Regarding retirement adjustment both the positive and the negative aspectswould be taken into account As Floyd et al (1992) stated the most essential index ofsubjective well-being for an individual is the personrsquos judgement of quality of lifeMaintaining satisfaction during retirement is associated with replacing rewardsgained from work activities with rewarding leisure activities so that the retireemaintains a stable ratio of reinforcements from pre- to post-retirement Retirementsatisfaction has been widely used as the main positive indicator of adjustment duringretirement and global indices of satisfaction appear to be relevant for all age groups(Floyd et al 1992) At the same time poor health has long been established as one ofthe most critical determinants of retirement behaviour but most previous studiesfocused on physical health while mental health also plays an important role forfunctioning and well-being in the retirement process (Kim and Moen 2002 Wang2007) The most common forms of mental illness in the European Union are anxietyand depression and empirical studies have included feelings of anxiety anddepression as indicators of adjustment in later life (Fletcher and Hansson 1991)Retirement anxiety is a generalized feeling of apprehension or worry regardinguncertain unpredictable and potentially disruptive consequences of retirementSpecifically related to relative deprivation a recent meta-analysis included feelingsof anxiety and depression as internal responses (Smith et al 2011)
The current investigationTwo studies examined the influence of psychosocial factors both on retirementintentions and retirement adjustment These studies focused on participants proximalto the retirement experience to ensure a proper examination of the common variablesthat affect both transitions and post-transition development
Study 1 examined whether retirement self-efficacy low work involvement low jobinvolvement older worker identity and relative deprivation significantly explainedretirement intentions (bridge employment engagement part-time retirement lateretirement and full retirement) of workers over 60 years Study 2 expanded this modelwith a new sample of recent retirees examining the relationships between retirementself-efficacy low work involvement low job involvement older worker identity andrelative deprivation significantly explained retirement adjustment (retirementsatisfaction feelings of anxiety and depression) The antecedent variables for Study 1and for Study 2 were the same while the outcome variables differed in both studies
Study 1The first study investigated the influences of retirement self-efficacy low workinvolvement low job involvement older worker identity and relative deprivation on
388
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement intentions Based on the literature reviewed we propose the followinghypotheses (see Figure 1)
H1 Regarding person-related variables (a) high retirement self-efficacy will benegatively related to bridge employment (b) to partial (c) late retirement and (d)positively related to full retirement
H2 Regarding retirement-related variables (a) low work involvement will benegatively related to bridge employment (b) to partial (c) late retirement and(d) positively related to full retirement
H3 (a) Low job involvement will be negatively related to bridge employment (b) topartial (c) late retirement and (d) positively related to full retirement
H4 Regarding contextual variables (a) strong older worker identity will benegatively related to bridge employment (b) to partial (c) late retirement and(d) positively related to full retirement
H5 (a) High relative deprivation will be negatively related to bridge employment(b) to partial (c) late retirement and (d) positively related to full retirement
MethodParticipants and procedureAged workers (nfrac14 157) from several Spanish firms participated in this studyParticipants were recruited due to their proximal anticipation of retirement becausethey were already aged 60 We contacted potential participants on the basis of thepersonnel list of the organizations explained to them the purpose of our study andinvited them to participate in our research Survey packages sets were distributed tothose who agreed to participate by collaborators of the research team who performedthe task after having received precise instructions in order to homogenize theadministration procedure Each set contains a cover letter an informed consent a
ndash
ndash
ndash
+
ndash
ndash
ndash
+
ndash
+
ndash
ndash
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
FullRetirement
Lateretirement
Part-timeretirement
Relativedeprivation
BridgeEmploymentH1b
H1cH1d
H5a
H5cH5d
H3aH3b
Older workeridentity
H3c
H4d
H1a
H3d
H4a H4b
H5b
H4c
Low workinvolvement
ndash
+
+
ndash
ndash
ndash
ndashndash
Low jobinvolvement
H2a
H2b
H2c
H2d
Figure 1Hypothesized model
for Study 1retirement intentions
model (agedworkers)
389
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
questionnaire and a return envelope In the cover letter participants were informed ofthe goal of the study and the anonymity of the data collected Participants wereinformed about the study objectives the variables included on it their rights regardingpersonal data protection and his explicit agreement to participate voluntarily in thestudy Then they completed a workbook containing the diverse scales of the studyCompleted questionnaires and informed consent were mailed back to the researchersdirectly using the pre-paid return envelope included in the survey set A reminderwas sent out to all participants to return the survey one month later In total200 questionnaire packages were distributed and 180 aged workers returned completedforms After excluding returned surveys that had missing data (25 per cent) the finalsample size of participants for analysis was 157
Descriptive analyses showed that mean age was 60 years (SDfrac14 43) The mean timeemployed was 369 years (SDfrac14 87) whereas the mean time in the same organizationwas 255 years (SDfrac14 109) In this sample the percentage of men was 551 per cent Jobtype distribution showed that the firms were aimed to education (28 per cent) health(26 per cent) services (16 per cent) manufacturing (15 per cent) others (15 per cent)
MeasuresSocio-demographic data Participants provided information about their age genderseniority in their organizations and employed time
Retirement self-efficacy We used 13 items of the Retirement Self-Efficacy Scale(Harper 2005) which provides a set of items that focus on confidence in performing awide variety of the subtasks of retirement health financial activities government andpension regulations and retirement itself Cronbachrsquos coefficient of αfrac14 097 has beenreported Response scales ranged from 1 (very little confidence) to 5 (quite a lot ofconfidence) Examples of items are ldquoCope with changes in retirementrdquo ldquoPlan leisuretimerdquo ldquoAdjust successfully to retirementrdquo ldquoMaintain any current skills or knowledge thatyou want to maintainrdquo or ldquoRemain active at homerdquo Reliability in this study was αfrac14 092
Older worker identity We used the self-descriptive component of the Older WorkerIdentity Scale (Tougas et al 2004) which includes ten items from the original scaleThe questionnaire required participants to appraise their motivation creativity andflexibility on a five-point scale ranging between 1 (totally disagree) and 5 (totally agree)The scale reached a reliability of αfrac14 080 among participants in this study Examplesof items are ldquoI amwas less effective in accomplishing my workrdquo ldquoI became lesscreative in accomplishing my workrdquo ldquoI amwas no longer motivated to accomplish mytasksrdquo and ldquoI became less adaptable and flexiblerdquo
Low work involvement The work involvement questionnaire (Kanungo 1982) wasused We included two items ldquoThe most important things that happen to me involvemy present workrdquo ldquoMost of my personal life goals are work-orientedrdquo Items werereversed to reflect low involvement Response scale ranged from 1 (totally disagree) to5 (totally agree) This scale reached αfrac14 085 in this study
Low job involvement The job involvement questionnaire (Kanungo 1982) was usedWe included two items ldquoMost of my interests are centred on my jobrdquo ldquoI consider my jobto be very central to my existencerdquo Items were reversed to reflect low involvementResponse scale ranged from 1 (totally disagree) to 5 (totally agree) This scale reachedαfrac14 083 in this study
Relative deprivation We used three items from the Personal Relative DeprivationScale (Tougas et al 1991) ldquoI have the impression that we were less appreciated that
390
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
younger workersrdquo (appreciation) ldquoWe have the impression that our work wasevaluated less well than that of those younger than usrdquo (evaluation) ldquoWe think that wehad less opportunity for promotion that those younger than usrdquo (promotion) Thescale reached a reliability of αfrac14 065 among the participants in this study
Retirement intentions Participants were asked to agree or disagree with fourstatements that reflect different pathways for retirement following the procedure ofprevious studies (Zaniboni et al 2010) full retirement (ldquoI will retire as soon aspossiblerdquo) part-time retirement (ldquoEven when I could already retire I would keep onworking but reducing my actual work timerdquo) late retirement (ldquoEven when I can retireI will keep on workingrdquo) bridge employment (ldquoEven when I can retire I will keep onworking but changing job typerdquo)
Overview of analysesFirst as self-report questionnaires were used to collect the data at the same time fromthe same participants common method variance may be a concern In order to testwhether variance in the data can be largely attributed to a single factor we used thepost hoc Harman one-factor analysis (Podsakoff et al 2003) Second descriptiveanalyses were studied in addition to the inter-correlations of all the variables Third inorder to test our hypothesis we performed structural equation modelling (SEM) usingthe maximum likelihood procedure and the original data as input with AMOS 200 TheSEM model included four latent exogenous variables and four latent endogenousvariables Finally in order to show the potentially differential impacts of the personalretirement-related and contextual variables we run several multivariate regressionanalyses as an anonymous reviewer suggested
To test the fit of the models several indexes are recommended such as χ2 and its levelof probability the goodness of fit index (GFI) and the root mean square error ofapproximation (RMSEA) Comparative indexes have been used such as the Akaikeinformation criterion (AIC) and the Browne-Cudek criterion (BCC) with simpler modelsachieving low values because both indexes penalize complex models with a poor fit to thedata Three more indexes are also used to compare models the Expected Cross-ValidationIndex (ECVI similar to the AIC and the BCC) In both of them the simpler models withbetter fit achieve low values whereas the more complex models with poorer fit reach highscores because both indexes penalize complex models with a poor fit to the data
ResultsIn order to apply the post hoc Harman one-factor analysis (Podsakoff et al 2003) weexamined the results of preliminary exploratory factor analysis which showed that asingle factor only accounted for 24 per cent of the variance Hence a single factorcannot account for the variance in the data and we cannot consider the commonmethod variance to be a serious deficiency in this data set
Table I show the means standard deviations and inter-correlations of the variablesCorrelation matrix analysis provided preliminary support for the hypotheses In thisstudy psychosocial factors were intercorrelated Retirement self-efficacy hadsignificant and negative relations both with older worker identity low workinvolvement low job involvement and relative deprivation At the same time olderworker identity was positively and significantly correlated with relative deprivationConcerning consequences all the variables were highly correlated The relationshipbetween full retirement and the other pathways from work were negative
391
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
In the next step we proceeded to test our SEM models Regarding the retirementintentions model the fit indicators of the original model were inadequateχ2(12)frac14 1723 pfrac14 000 CMINdffrac14 144 GFIfrac14 075 RMSEAfrac14 029 AICfrac14 2203BCCfrac14 2937 ECVIfrac14 147 (CI 90frac14 121178) MECVIfrac14 149 so the model was re-specified The correlations between retirement self-efficacy older worker identity andrelative deprivation were added obtaining a progressively better fit Based on theircritical ratios (CR) statistically nonsignificant relations such as those betweenretirement self-efficacy and bridge employment among others were eliminatedDespite this decision the relationship between relative deprivation and full retirementwas retained due its theoretical meaning The re-specified model showed better fitχ2(7)frac14 374 pfrac14 081 CMINdffrac14 054 GFIfrac14 099 RMSEAfrac14 000 AICfrac14 6175BCCfrac14 6529 Additional analyses have been carried out to test cross-validationECVIfrac14 042 (CI 90frac14 044048) MECVIfrac14 045 showed lower values than the proposedmodels Standardized estimations for the re-specified model can be observed inFigure 2 The percentage of variance explained by the model seems low for eachretirement pathway because it ranges between 07 and 25 per cent
The examination of the standardized estimates in the final model allows us to state thatour hypotheses have been partially confirmed Related to retirement self-efficacy ourresults showed that it was positively related to full retirement and negatively related topartial and late retirement confirming H1b-H1d The relationship between retirementself-efficacy and bridge employment showed the expected direction (H1a) but failed toreach statistical significance
Related to low work involvement only H2a and H2c were supported Directpathways from low work involvement to full retirement and to partial did not showstatistical relevance (H2b and H2d) Low job involvement showed the hypthesizednegative relationship with partial retirement confirming H3b while the othershypotheses have been rejected (H3a-H3d)
Regarding older worker identity our results confirmed the hypothesizedrelationships positive relationship with full retirement (H4d) and negative relationshipwith late retirement (H4c) whereas data failed to confirm our hypotheses for bridgeemployment (H4a) and partial retirement (H4b) due to lack of statistical significanceFinally regarding relative deprivation only H5a-H5d were confirmed by data whereasH4b failed to reach statistical confirmation
Regarding multivariate analyses Table II shows the main results which showedthat the socio-demographic variables failed to account for the variance of the retirementintention outcomes (see Table II) Retirement self-efficacy was the main significantantecedent (for partial late and full-retirement criteria) with older worker identity andrelative deprivation for full retirement Low work involvement and low job involvementfailed to reach statistical significance
Brief discussion on Study 1Study 1 successfully confirmed the proposed hypotheses First retirement self-efficacyand older worker identity showed powerful positive influences on full retirementintention Second late retirement has been negatively influenced by all the psychosocialfactors Finally partial retirement and bridge employment showed a more complexpattern of relationships according to the percentage of variance accounted for the modelA general discussion in deep will be offered later comprising Studies 1 and 2
Study 2The second study investigated the influences of retirement self-efficacy low workinvolvement older worker identity and relative deprivation on retirement adjustmentBased on the literature reviewed we propose the following hypotheses (see Figure 3)
H6 Regarding person-related variables (a) high retirement self-efficacy will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H7 Regarding retirement-related variables (a) low work involvement will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H8 (a) Low job involvement will be positively related to retirement satisfaction(b) negatively related to feelings of anxiety and (c) of depression
H9 Regarding contextual variables (a) strong older worker identity will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
393
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Bridg
eem
ployment
Partialretirem
ent
Late
retirem
ent
Fullretirem
ent
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
002
002
minus000
minus001
minus013
minus014
minus016
minus016
minus002
minus003
minus006
minus007
004
006
008
010
Employed
time
002
minus000
minus000
001
010
002
001
001
002
minus006
minus006
minus003
minus002
012
011
008
Jobseniority
minus009
minus007
minus006
minus007
minus011
minus005
minus003
minus001
003
008
010
011
013
003
002
001
Independ
entvariables
RSE
minus006
minus002
minus005
minus025
minus021
minus022
minus023
minus019
minus024
044
043
049
LWI
minus011
minus007
minus004
minus004
minus014
minus007
011
004
LJI
minus010
minus013
minus020
minus019
minus012
minus015
004
001
OWI
minus005
minus009
minus021
027
RD
minus019
007
minus014
014
F034
038
114
165
102
297
33
262
008
181
251
374
08
816
565
748
ΔF
034
049
264
309
102
864
372
064
008
69
37
68
080
297
068
106
R2
minus001
minus002
000
004
000
005
009
008
minus002
002
010
018
minus000
017
016
027
ΔR2
0007
0003
004
004
002
005
004
000
000
005
005
008
002
017
000
011
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativ
edeprivation
po
005po
001
p
o0001po
010
Table IIResults ofmultivariateregression analysesfor Study 1 (agedworkers)
394
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
H10 (a) High relative deprivation will be negatively related to retirementsatisfaction (b) positively related to feelings of anxiety and (c) of depression
MethodParticipants and procedureThe Study 2 was conducted with retirees (nfrac14 218) and included participants whohad retired at least two years ago Retirees had previously worked in the sameorganizations that the employees of the first sample They were identified bythe research team through personnel archives of these organizations and then thecollaborators of the research team contacted to the potential participants by e-mailexplained to them the purpose of our study and invited them to participate voluntarilyin exchange of a lottery reward Survey packages sets ndash cover letter informed consentquestionnaire and the return envelope ndash were sent to those who agreed to participateCompleted questionnaires and informed consent were mailed back to the researchersusing the pre-paid return envelope A reminder was sent out to all participants to returnthe survey one month later In total 300 questionnaire packages were distributed and235 retirees returned completed forms After excluding those with several missing data(18 per cent) the final sample size included 218 retirees
These participants had a mean age of 68 years (SDfrac14 72) and the mean timeemployed was 382 years (SDfrac14 109) whereas the mean retired time was 65 years(SDfrac14 58) In this study the percentage of men was 706 per cent Job type distributionshowed that the firms were aimed to education (32 per cent) health (30 per cent) services(12 per cent) manufacturing (18 per cent) and others (8 per cent)
MeasuresAntecedent variables for this study were similar to Study 1 Socio-demographic dataretirement self-efficacy older worker identity low work involvement and relativedeprivation were measured as per Study 1 Reliabilities values in this study wereαfrac14 089 for retirement self-efficacy αfrac14 077 for older worker identity αfrac14 079 for low
+
ndash
ndash
+
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
Feelings ofDepression
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
H6a
H6bH6c
H10aH10b
H10c
Older workeridentity
H7a
H9b
H9c
H9a
Low workinvolvement
H7b
H7c
+
ndash
ndash
+
ndash
ndash
+
ndash
ndash
ndash
Low jobinvolvement
H8a
H8b
H8c
ndash
Figure 3Hypothesized model
for Study 2retirement
adjustment model(retirees)
395
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
work involvement and αfrac14 067 for relative deprivation Consequences were measuredas follows
Retirement satisfaction We used the satisfaction with life subscale of the retirementsatisfaction inventory (Floyd et al 1992) which included 11 items Many aspectsincluded are common to other life satisfaction scales (financial resources or interpersonalrelations) whereas other aspects are particularly relevant for future retirees such asaccess to social services or transportation Cronbachrsquos α reliability for the originalsubscale was αfrac14 081 Respondents used a response scale from 1 (totally unsatisfied)to 5 (totally satisfied)
Feelings of anxiety We used a measure of low psychological well-being developedad hoc for the study based on the model of measurement of well-being proposed byWarr (1990) This measure consisted of a single item ldquoIf you think about yourretirement how much anxiety do you feelrdquo The response scale ranged from 1 (verylittle anxiety) to 5 (quite a lot of anxiety)
Feelings of depression We used a measure of low psychological well-being developedad hoc based on Warr (1990) This measure consisted of a single item ldquoIf you thinkabout your retirement how much depression do you feelrdquo The response scale rangedfrom 1 (very little depression) to 5 (quite a lot of depression)
Overview of analysesSimilar procedures have been used to conduct the data analyses for this study applyingrecommendations to minimize the common method variance exploring correlationsamong the variables third testing hypotheses trough a SEM analysis and finallyconducting multivariate regression analyses which allow us introduce antecedents stepby step The SEM model in Study 2 included four latent exogenous variables and threelatent endogenous variables
ResultsThe results of preliminary exploratory factor analysis showed that a single factor onlyaccounted for 235 per cent of the variance (Podsakoff et al 2003) supporting that wecannot consider the common method variance to be a serious deficiency in this data setTable III show the means standard deviations and inter-correlations Psychosocialfactors showed a complex pattern of relationships Retirement self-efficacy wasnegatively related both to older worker identity and to relative deprivation but had anegligible relation with low work involvement Older worker identity had a positiverelationship both with low work involvement low job involvement and relativedeprivation as expected Consequences were significantly related showing an
expected pattern retirement satisfaction had a negative relationship both with feelingsof anxiety and of depression whereas feelings of anxiety and depression werepositively intercorrelated Contrary to our hypotheses relative deprivation showed anegative relationship with depression
Next we proceeded to test the SEM model Fit indicators of the original model wereinadequate χ2(6)frac14 5451 pfrac14 000 CMINdffrac14 908 GFIfrac14 089 RMSEAfrac14 026AICfrac14 9851 BCCfrac14 10165 ECVIfrac14 082 (CI 90frac14 066105) MECVIfrac14 085 so themodel was re-specified The correlations between retirement self-efficacy low workinvolvement older worker identity and relative deprivation were added obtaining aprogressively better fit Based on their CR statistically nonsignificant relations such asthose between low work involvement and anxiety were eliminated The re-specifiedmodel showed better fit χ2(3)frac14 148 pfrac14 069 CMINdffrac14 049 GFIfrac14 099RMSEAfrac14 000 AICfrac14 515 BCCfrac14 5506 Additional analyses have been carried out totest cross-validation ECVIfrac14 043 (CI 90frac14 044048) MECVIfrac14 046 showed lower valuesthan the proposed models Finally the respecified model and its standardized estimationscan be observed in Figure 4 The percentage of variance explained by the modelseems low for each retirement pathway because it ranges between 27 and 34 per cent
The retirement adjustment model showed thatH6a-H6cwere totally confirmed Relatedto low work involvement only H7awas confirmed because the relationships with anxietyand depression failed to confirm H7b and H7c due to their lack of statistical significanceLow job involvement showed significant relationships with feelings of anxiety and thesedata allow us to confirm H8b while both H8b and H8c have been rejected
Older worker identity had a positive relationship with retirement satisfaction butwithout statistical significance (H9a) whereas the relationships with feelings of anxietyand depression proved to be stronger and negative as hypothesized (H9b and H9c)Regarding relative deprivation H10a-H10c were totally confirmed Regardingmultivariate analyses Table IV shows the main results which showed that the socio-demographic variables failed to account for the variance of the retirement adjustmentoutcomes (see Table IV) Retirement self-efficacy was the main significant antecedent
018
Retirementself-efficacy
Feelings ofDepression
032
032
032
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
ndash016
046
ndash048
H6a
H6bH6c
016H10aH10b
H10c
ndash037
025
Older workeridentity
H8a
011 ns
H9bndash026
H9c ndash026
H9a
017
Low jobinvolvement
H8b ndash019
H7a021Low work
involvement
042
027
045
ndash014
ndash024
ndash045
ndash040
045
Notes n= 218 plt005 plt001
Figure 4Standardized
estimates for Study 2(retirement
adjustment model)
397
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Retirem
entsatisfaction
Feelings
ofanxiety
Feelings
ofdepression
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
005
019
017
016
009
minus003
minus007
minus004
006
minus006
minus007
minus002
Employed
time
000
001
000
000
005
004
008
008
009
009
010
011
Retired
time
003
minus008
minus005
minus004
minus025
minus015
minus011
minus012
minus009
minus000
minus002
minus004
Independ
entvariables
RSE
044
044
044
minus040
minus038
minus039
minus041
minus040
minus042
LWI
000
000
021
020
005
004
LJI
013
011
minus017
minus014
minus015
minus009
OWI
007
minus014
minus028
RD
minus006
011
020
F042
123
909
693
275
1225
96
800
100
1055
789
891
ΔF
042
478
215
071
275
3924
366
272
100
387
207
1016
R2
minus000
018
018
018
002
018
020
021
000
015
016
023
ΔR2
0007
019
002
000
003
015
003
002
001
016
002
007
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativedeprivation
po
005
po
001po
0001po
010
Table IVResults ofmultivariateregression analysesfor Study 2 (retirees)
398
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
(for retirement satisfaction anxiety and depression criteria) with low work involvementolder worker identity and relative deprivation for anxiety and depression feelings Lowjob involvement failed to reach statistical significance for the depression analysis
Brief discussion on Study 2Study 2 provided evidence for the proposed pattern of relationships between retirementself-efficacy low work involvement older worker identity and relative deprivation andretirement adjustment among retirees Despite the absence of a significant associationbetween low work involvement and feelings of anxiety and depression it was shown thatretirement well-being was significantly explained by the hypothesized antecedentsGenerally speaking our data confirmed the proposed pattern of relationships betweenpsychosocial factors on the one hand and retirement adjustment on the other handdespite the fact that some of the pathways did not reach sufficient statistical power
General discussionThis work had two goals pursued by two empirical studies with two samples workersover 60 years and retirees Study 1 was aimed to analyse the impact of psychosocialfactors on retirement intentions Study 2 was conducted to confirm the impact of thesame psychosocial factors on retirement adjustment In general we can state that bothgoals were achieved Specifically we contend that the availability of two different sets ofdata increases the generalizability of our findings On the basis of these data it wasshown that conceptualizing retirement as an adjustment process provides a morecomprehensive approach to understanding the phenomena As Wang and Shultz (2010)emphasized this conceptualization views retirement as incorporating both the pathwaysfrom employment to retirement and a post-retirement trajectory which includes efforts toachieve psychological well-being in retirement As Beehr and Bennett (2007) havementioned although much information on the decision to retire is available there is lessinformation particularly in terms of an underlying framework on what happens toindividuals after they retire (Taylor-Carter and Cook 1995) and especially years afterthey have retired In this sense our study contributes to bridge this gap
Retirement intentionsIn a more general sense in Study 1 we attempted to overcome a generalized criticism tothe life course perspective which seems to provide a general framework for analyzingtransitions and for the study of the heterogeneity in the retirement experience but offersfew concrete hypotheses as to how and why specific life course transitions impinge onwell-being (Szinovacz 2003 Van Solinge 2013) As expected our results showed thathigh retirement self-efficacy low work involvement and strong older worker identitytend to decrease intentions to keep on working and in turn they tend to increase fullretirement intentions At the same time relative deprivation shows the opposite patternwith high values increasing intentions to engage in bridge employment and lateretirement Specifically our results are in line with those of Henkens and Tazelaar (1997)and Van Solinge and Henkens (2007) which found that social embeddedness at workcontributes to worker evaluations about the attractiveness to keep on working
These results partially confirm the general tendency of previous findings ofZaniboni and colleagues (2010) notwithstanding that specific instruments and typeof sample and organization were different In this sense our results supported theexpectation that this pattern of intentions would be confirmed with different sectorssuch as private employees It has been suggested that people have mixed intentions
399
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
occupational life they can be expected to adapt more easily to the new retirementsituation as work did not occupy a core position in their life prior to retirementNevertheless previous research has found inconsistent results for instance somestudies (Quick and Moen 1998 Reitzes and Mutran 2006) found that identification withthe work role positively impacted on adjustment for up to 24 months after theretirement event whereasWong and Earl (2009) found that work centrality was neitherrelated to retirement adjustment nor to post-retirement activity levels
The life course perspective also argues that the experience of transition will becontingent with the specific context surrounding the person Taking into account thataged workers ndash like everyone else ndash want to maintain a positive identity and becauseresearch would indicate that identification with working increases in importance withage (Baltes et al 2012) some authors proposed that the experience of unfavourabletreatment discrimination in career opportunities etc can lead to internalization ofnegative characteristics such as low motivation resistance to change and lack ofinterest or of creativity (Tougas et al 2004) According to these suggestions studieshave proposed the existence of older worker identity (Roberto and Biggan 2014 Urickand Hollensbe 2014) or late-career worker identity (Bayl-Smith and Griffin 2014) andits influence both on transition to retirement and adjustment to retirement Specificallyolder worker identity will impact on negative attitudes towards work (Desmette andGaillard 2008) and on behaviours such as bridge employment ndash in a negative sense ndashand full retirement ndash in a positive sense (Zaniboni et al 2010) Related to adjustmentolder worker identity has shown positive impact on retirement satisfaction and onpsychological health during retirement (Michinov et al 2008) Due to this we includedolder worker identity as the first variable among the contextual factors of our analysis
Lastly life course the ecological perspective emphasizes that the contextualembeddedness is particularly important because the experience of life transitionsand retirement is played out in a network of shifting social relations and resourcesembedded within the social context often help retirees to adjust to retirement(Van Solinge 2013 Wang and Shultz 2010) Relative deprivation refers to the feelingof discontent experienced as a result of individual comparisons with others (Runciman1966) Relative deprivation includes two components the cognitive one refers to socialcomparisons and the affective one includes feelings of dissatisfaction At the personallevel feelings of relative deprivation emerge when individuals are dissatisfied withtheir own situation in comparison to that of others In this sense individual relativedeprivation is an important factor that will affect both retirement transition andadjustment According to this point some researchers have shown that the importanceof social networks contributes to onersquos personal appraisal of the attractiveness ofremaining at work (Henkens and Tazelaar 1997) Indeed due to the fact that loss ofsocial relationships will be a certain outcome of full retirement relative deprivation willbe negatively related to total retirement whereas its relationships with alternativepathways from work will be positive
Related to retirement adjustment it will be probably affected by relative deprivationbecause the loss of social relations will affect retirement satisfaction negatively andanxiety and depression positively In a general sense Smith et al (2011) meta-analysedthe outcome variables of relative deprivation finding that it was associated withpersonal responses such as psychological stress depression and anxiety Within thecontext of retirement researchers have reported that social isolation was associatedwith lower retirement satisfaction and less happiness during retirement (Vanderhorstand McLaren 2005)
387
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Retirement intentions and retirement adjustment outcomesThe conceptualization of retirement as an adjustment process allows us to explain whypeople make the same decision to retire but their chosen pathways to exit from worklead them to very different outcomes In this sense this work proposes to explore theimpact of the diverse above-mentioned psychosocial factors on the choice of the diversepathways to exit from work Considering the possible pathways to exit most authorshave used various categories that summarize the broad range of retirement intentionsin full retirement ndash in the sense of a ldquocold turkeyrdquo or abrupt retirement (Calvo et al2009) ndash partial retirement gradual or phased retirement late retirement bridgeemployment and re-entry (Alcover et al 2014 Cahill et al 2013)
Regarding retirement adjustment both the positive and the negative aspectswould be taken into account As Floyd et al (1992) stated the most essential index ofsubjective well-being for an individual is the personrsquos judgement of quality of lifeMaintaining satisfaction during retirement is associated with replacing rewardsgained from work activities with rewarding leisure activities so that the retireemaintains a stable ratio of reinforcements from pre- to post-retirement Retirementsatisfaction has been widely used as the main positive indicator of adjustment duringretirement and global indices of satisfaction appear to be relevant for all age groups(Floyd et al 1992) At the same time poor health has long been established as one ofthe most critical determinants of retirement behaviour but most previous studiesfocused on physical health while mental health also plays an important role forfunctioning and well-being in the retirement process (Kim and Moen 2002 Wang2007) The most common forms of mental illness in the European Union are anxietyand depression and empirical studies have included feelings of anxiety anddepression as indicators of adjustment in later life (Fletcher and Hansson 1991)Retirement anxiety is a generalized feeling of apprehension or worry regardinguncertain unpredictable and potentially disruptive consequences of retirementSpecifically related to relative deprivation a recent meta-analysis included feelingsof anxiety and depression as internal responses (Smith et al 2011)
The current investigationTwo studies examined the influence of psychosocial factors both on retirementintentions and retirement adjustment These studies focused on participants proximalto the retirement experience to ensure a proper examination of the common variablesthat affect both transitions and post-transition development
Study 1 examined whether retirement self-efficacy low work involvement low jobinvolvement older worker identity and relative deprivation significantly explainedretirement intentions (bridge employment engagement part-time retirement lateretirement and full retirement) of workers over 60 years Study 2 expanded this modelwith a new sample of recent retirees examining the relationships between retirementself-efficacy low work involvement low job involvement older worker identity andrelative deprivation significantly explained retirement adjustment (retirementsatisfaction feelings of anxiety and depression) The antecedent variables for Study 1and for Study 2 were the same while the outcome variables differed in both studies
Study 1The first study investigated the influences of retirement self-efficacy low workinvolvement low job involvement older worker identity and relative deprivation on
388
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement intentions Based on the literature reviewed we propose the followinghypotheses (see Figure 1)
H1 Regarding person-related variables (a) high retirement self-efficacy will benegatively related to bridge employment (b) to partial (c) late retirement and (d)positively related to full retirement
H2 Regarding retirement-related variables (a) low work involvement will benegatively related to bridge employment (b) to partial (c) late retirement and(d) positively related to full retirement
H3 (a) Low job involvement will be negatively related to bridge employment (b) topartial (c) late retirement and (d) positively related to full retirement
H4 Regarding contextual variables (a) strong older worker identity will benegatively related to bridge employment (b) to partial (c) late retirement and(d) positively related to full retirement
H5 (a) High relative deprivation will be negatively related to bridge employment(b) to partial (c) late retirement and (d) positively related to full retirement
MethodParticipants and procedureAged workers (nfrac14 157) from several Spanish firms participated in this studyParticipants were recruited due to their proximal anticipation of retirement becausethey were already aged 60 We contacted potential participants on the basis of thepersonnel list of the organizations explained to them the purpose of our study andinvited them to participate in our research Survey packages sets were distributed tothose who agreed to participate by collaborators of the research team who performedthe task after having received precise instructions in order to homogenize theadministration procedure Each set contains a cover letter an informed consent a
ndash
ndash
ndash
+
ndash
ndash
ndash
+
ndash
+
ndash
ndash
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
FullRetirement
Lateretirement
Part-timeretirement
Relativedeprivation
BridgeEmploymentH1b
H1cH1d
H5a
H5cH5d
H3aH3b
Older workeridentity
H3c
H4d
H1a
H3d
H4a H4b
H5b
H4c
Low workinvolvement
ndash
+
+
ndash
ndash
ndash
ndashndash
Low jobinvolvement
H2a
H2b
H2c
H2d
Figure 1Hypothesized model
for Study 1retirement intentions
model (agedworkers)
389
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
questionnaire and a return envelope In the cover letter participants were informed ofthe goal of the study and the anonymity of the data collected Participants wereinformed about the study objectives the variables included on it their rights regardingpersonal data protection and his explicit agreement to participate voluntarily in thestudy Then they completed a workbook containing the diverse scales of the studyCompleted questionnaires and informed consent were mailed back to the researchersdirectly using the pre-paid return envelope included in the survey set A reminderwas sent out to all participants to return the survey one month later In total200 questionnaire packages were distributed and 180 aged workers returned completedforms After excluding returned surveys that had missing data (25 per cent) the finalsample size of participants for analysis was 157
Descriptive analyses showed that mean age was 60 years (SDfrac14 43) The mean timeemployed was 369 years (SDfrac14 87) whereas the mean time in the same organizationwas 255 years (SDfrac14 109) In this sample the percentage of men was 551 per cent Jobtype distribution showed that the firms were aimed to education (28 per cent) health(26 per cent) services (16 per cent) manufacturing (15 per cent) others (15 per cent)
MeasuresSocio-demographic data Participants provided information about their age genderseniority in their organizations and employed time
Retirement self-efficacy We used 13 items of the Retirement Self-Efficacy Scale(Harper 2005) which provides a set of items that focus on confidence in performing awide variety of the subtasks of retirement health financial activities government andpension regulations and retirement itself Cronbachrsquos coefficient of αfrac14 097 has beenreported Response scales ranged from 1 (very little confidence) to 5 (quite a lot ofconfidence) Examples of items are ldquoCope with changes in retirementrdquo ldquoPlan leisuretimerdquo ldquoAdjust successfully to retirementrdquo ldquoMaintain any current skills or knowledge thatyou want to maintainrdquo or ldquoRemain active at homerdquo Reliability in this study was αfrac14 092
Older worker identity We used the self-descriptive component of the Older WorkerIdentity Scale (Tougas et al 2004) which includes ten items from the original scaleThe questionnaire required participants to appraise their motivation creativity andflexibility on a five-point scale ranging between 1 (totally disagree) and 5 (totally agree)The scale reached a reliability of αfrac14 080 among participants in this study Examplesof items are ldquoI amwas less effective in accomplishing my workrdquo ldquoI became lesscreative in accomplishing my workrdquo ldquoI amwas no longer motivated to accomplish mytasksrdquo and ldquoI became less adaptable and flexiblerdquo
Low work involvement The work involvement questionnaire (Kanungo 1982) wasused We included two items ldquoThe most important things that happen to me involvemy present workrdquo ldquoMost of my personal life goals are work-orientedrdquo Items werereversed to reflect low involvement Response scale ranged from 1 (totally disagree) to5 (totally agree) This scale reached αfrac14 085 in this study
Low job involvement The job involvement questionnaire (Kanungo 1982) was usedWe included two items ldquoMost of my interests are centred on my jobrdquo ldquoI consider my jobto be very central to my existencerdquo Items were reversed to reflect low involvementResponse scale ranged from 1 (totally disagree) to 5 (totally agree) This scale reachedαfrac14 083 in this study
Relative deprivation We used three items from the Personal Relative DeprivationScale (Tougas et al 1991) ldquoI have the impression that we were less appreciated that
390
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
younger workersrdquo (appreciation) ldquoWe have the impression that our work wasevaluated less well than that of those younger than usrdquo (evaluation) ldquoWe think that wehad less opportunity for promotion that those younger than usrdquo (promotion) Thescale reached a reliability of αfrac14 065 among the participants in this study
Retirement intentions Participants were asked to agree or disagree with fourstatements that reflect different pathways for retirement following the procedure ofprevious studies (Zaniboni et al 2010) full retirement (ldquoI will retire as soon aspossiblerdquo) part-time retirement (ldquoEven when I could already retire I would keep onworking but reducing my actual work timerdquo) late retirement (ldquoEven when I can retireI will keep on workingrdquo) bridge employment (ldquoEven when I can retire I will keep onworking but changing job typerdquo)
Overview of analysesFirst as self-report questionnaires were used to collect the data at the same time fromthe same participants common method variance may be a concern In order to testwhether variance in the data can be largely attributed to a single factor we used thepost hoc Harman one-factor analysis (Podsakoff et al 2003) Second descriptiveanalyses were studied in addition to the inter-correlations of all the variables Third inorder to test our hypothesis we performed structural equation modelling (SEM) usingthe maximum likelihood procedure and the original data as input with AMOS 200 TheSEM model included four latent exogenous variables and four latent endogenousvariables Finally in order to show the potentially differential impacts of the personalretirement-related and contextual variables we run several multivariate regressionanalyses as an anonymous reviewer suggested
To test the fit of the models several indexes are recommended such as χ2 and its levelof probability the goodness of fit index (GFI) and the root mean square error ofapproximation (RMSEA) Comparative indexes have been used such as the Akaikeinformation criterion (AIC) and the Browne-Cudek criterion (BCC) with simpler modelsachieving low values because both indexes penalize complex models with a poor fit to thedata Three more indexes are also used to compare models the Expected Cross-ValidationIndex (ECVI similar to the AIC and the BCC) In both of them the simpler models withbetter fit achieve low values whereas the more complex models with poorer fit reach highscores because both indexes penalize complex models with a poor fit to the data
ResultsIn order to apply the post hoc Harman one-factor analysis (Podsakoff et al 2003) weexamined the results of preliminary exploratory factor analysis which showed that asingle factor only accounted for 24 per cent of the variance Hence a single factorcannot account for the variance in the data and we cannot consider the commonmethod variance to be a serious deficiency in this data set
Table I show the means standard deviations and inter-correlations of the variablesCorrelation matrix analysis provided preliminary support for the hypotheses In thisstudy psychosocial factors were intercorrelated Retirement self-efficacy hadsignificant and negative relations both with older worker identity low workinvolvement low job involvement and relative deprivation At the same time olderworker identity was positively and significantly correlated with relative deprivationConcerning consequences all the variables were highly correlated The relationshipbetween full retirement and the other pathways from work were negative
391
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
In the next step we proceeded to test our SEM models Regarding the retirementintentions model the fit indicators of the original model were inadequateχ2(12)frac14 1723 pfrac14 000 CMINdffrac14 144 GFIfrac14 075 RMSEAfrac14 029 AICfrac14 2203BCCfrac14 2937 ECVIfrac14 147 (CI 90frac14 121178) MECVIfrac14 149 so the model was re-specified The correlations between retirement self-efficacy older worker identity andrelative deprivation were added obtaining a progressively better fit Based on theircritical ratios (CR) statistically nonsignificant relations such as those betweenretirement self-efficacy and bridge employment among others were eliminatedDespite this decision the relationship between relative deprivation and full retirementwas retained due its theoretical meaning The re-specified model showed better fitχ2(7)frac14 374 pfrac14 081 CMINdffrac14 054 GFIfrac14 099 RMSEAfrac14 000 AICfrac14 6175BCCfrac14 6529 Additional analyses have been carried out to test cross-validationECVIfrac14 042 (CI 90frac14 044048) MECVIfrac14 045 showed lower values than the proposedmodels Standardized estimations for the re-specified model can be observed inFigure 2 The percentage of variance explained by the model seems low for eachretirement pathway because it ranges between 07 and 25 per cent
The examination of the standardized estimates in the final model allows us to state thatour hypotheses have been partially confirmed Related to retirement self-efficacy ourresults showed that it was positively related to full retirement and negatively related topartial and late retirement confirming H1b-H1d The relationship between retirementself-efficacy and bridge employment showed the expected direction (H1a) but failed toreach statistical significance
Related to low work involvement only H2a and H2c were supported Directpathways from low work involvement to full retirement and to partial did not showstatistical relevance (H2b and H2d) Low job involvement showed the hypthesizednegative relationship with partial retirement confirming H3b while the othershypotheses have been rejected (H3a-H3d)
Regarding older worker identity our results confirmed the hypothesizedrelationships positive relationship with full retirement (H4d) and negative relationshipwith late retirement (H4c) whereas data failed to confirm our hypotheses for bridgeemployment (H4a) and partial retirement (H4b) due to lack of statistical significanceFinally regarding relative deprivation only H5a-H5d were confirmed by data whereasH4b failed to reach statistical confirmation
Regarding multivariate analyses Table II shows the main results which showedthat the socio-demographic variables failed to account for the variance of the retirementintention outcomes (see Table II) Retirement self-efficacy was the main significantantecedent (for partial late and full-retirement criteria) with older worker identity andrelative deprivation for full retirement Low work involvement and low job involvementfailed to reach statistical significance
Brief discussion on Study 1Study 1 successfully confirmed the proposed hypotheses First retirement self-efficacyand older worker identity showed powerful positive influences on full retirementintention Second late retirement has been negatively influenced by all the psychosocialfactors Finally partial retirement and bridge employment showed a more complexpattern of relationships according to the percentage of variance accounted for the modelA general discussion in deep will be offered later comprising Studies 1 and 2
Study 2The second study investigated the influences of retirement self-efficacy low workinvolvement older worker identity and relative deprivation on retirement adjustmentBased on the literature reviewed we propose the following hypotheses (see Figure 3)
H6 Regarding person-related variables (a) high retirement self-efficacy will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H7 Regarding retirement-related variables (a) low work involvement will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H8 (a) Low job involvement will be positively related to retirement satisfaction(b) negatively related to feelings of anxiety and (c) of depression
H9 Regarding contextual variables (a) strong older worker identity will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
393
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Bridg
eem
ployment
Partialretirem
ent
Late
retirem
ent
Fullretirem
ent
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
002
002
minus000
minus001
minus013
minus014
minus016
minus016
minus002
minus003
minus006
minus007
004
006
008
010
Employed
time
002
minus000
minus000
001
010
002
001
001
002
minus006
minus006
minus003
minus002
012
011
008
Jobseniority
minus009
minus007
minus006
minus007
minus011
minus005
minus003
minus001
003
008
010
011
013
003
002
001
Independ
entvariables
RSE
minus006
minus002
minus005
minus025
minus021
minus022
minus023
minus019
minus024
044
043
049
LWI
minus011
minus007
minus004
minus004
minus014
minus007
011
004
LJI
minus010
minus013
minus020
minus019
minus012
minus015
004
001
OWI
minus005
minus009
minus021
027
RD
minus019
007
minus014
014
F034
038
114
165
102
297
33
262
008
181
251
374
08
816
565
748
ΔF
034
049
264
309
102
864
372
064
008
69
37
68
080
297
068
106
R2
minus001
minus002
000
004
000
005
009
008
minus002
002
010
018
minus000
017
016
027
ΔR2
0007
0003
004
004
002
005
004
000
000
005
005
008
002
017
000
011
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativ
edeprivation
po
005po
001
p
o0001po
010
Table IIResults ofmultivariateregression analysesfor Study 1 (agedworkers)
394
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
H10 (a) High relative deprivation will be negatively related to retirementsatisfaction (b) positively related to feelings of anxiety and (c) of depression
MethodParticipants and procedureThe Study 2 was conducted with retirees (nfrac14 218) and included participants whohad retired at least two years ago Retirees had previously worked in the sameorganizations that the employees of the first sample They were identified bythe research team through personnel archives of these organizations and then thecollaborators of the research team contacted to the potential participants by e-mailexplained to them the purpose of our study and invited them to participate voluntarilyin exchange of a lottery reward Survey packages sets ndash cover letter informed consentquestionnaire and the return envelope ndash were sent to those who agreed to participateCompleted questionnaires and informed consent were mailed back to the researchersusing the pre-paid return envelope A reminder was sent out to all participants to returnthe survey one month later In total 300 questionnaire packages were distributed and235 retirees returned completed forms After excluding those with several missing data(18 per cent) the final sample size included 218 retirees
These participants had a mean age of 68 years (SDfrac14 72) and the mean timeemployed was 382 years (SDfrac14 109) whereas the mean retired time was 65 years(SDfrac14 58) In this study the percentage of men was 706 per cent Job type distributionshowed that the firms were aimed to education (32 per cent) health (30 per cent) services(12 per cent) manufacturing (18 per cent) and others (8 per cent)
MeasuresAntecedent variables for this study were similar to Study 1 Socio-demographic dataretirement self-efficacy older worker identity low work involvement and relativedeprivation were measured as per Study 1 Reliabilities values in this study wereαfrac14 089 for retirement self-efficacy αfrac14 077 for older worker identity αfrac14 079 for low
+
ndash
ndash
+
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
Feelings ofDepression
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
H6a
H6bH6c
H10aH10b
H10c
Older workeridentity
H7a
H9b
H9c
H9a
Low workinvolvement
H7b
H7c
+
ndash
ndash
+
ndash
ndash
+
ndash
ndash
ndash
Low jobinvolvement
H8a
H8b
H8c
ndash
Figure 3Hypothesized model
for Study 2retirement
adjustment model(retirees)
395
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
work involvement and αfrac14 067 for relative deprivation Consequences were measuredas follows
Retirement satisfaction We used the satisfaction with life subscale of the retirementsatisfaction inventory (Floyd et al 1992) which included 11 items Many aspectsincluded are common to other life satisfaction scales (financial resources or interpersonalrelations) whereas other aspects are particularly relevant for future retirees such asaccess to social services or transportation Cronbachrsquos α reliability for the originalsubscale was αfrac14 081 Respondents used a response scale from 1 (totally unsatisfied)to 5 (totally satisfied)
Feelings of anxiety We used a measure of low psychological well-being developedad hoc for the study based on the model of measurement of well-being proposed byWarr (1990) This measure consisted of a single item ldquoIf you think about yourretirement how much anxiety do you feelrdquo The response scale ranged from 1 (verylittle anxiety) to 5 (quite a lot of anxiety)
Feelings of depression We used a measure of low psychological well-being developedad hoc based on Warr (1990) This measure consisted of a single item ldquoIf you thinkabout your retirement how much depression do you feelrdquo The response scale rangedfrom 1 (very little depression) to 5 (quite a lot of depression)
Overview of analysesSimilar procedures have been used to conduct the data analyses for this study applyingrecommendations to minimize the common method variance exploring correlationsamong the variables third testing hypotheses trough a SEM analysis and finallyconducting multivariate regression analyses which allow us introduce antecedents stepby step The SEM model in Study 2 included four latent exogenous variables and threelatent endogenous variables
ResultsThe results of preliminary exploratory factor analysis showed that a single factor onlyaccounted for 235 per cent of the variance (Podsakoff et al 2003) supporting that wecannot consider the common method variance to be a serious deficiency in this data setTable III show the means standard deviations and inter-correlations Psychosocialfactors showed a complex pattern of relationships Retirement self-efficacy wasnegatively related both to older worker identity and to relative deprivation but had anegligible relation with low work involvement Older worker identity had a positiverelationship both with low work involvement low job involvement and relativedeprivation as expected Consequences were significantly related showing an
expected pattern retirement satisfaction had a negative relationship both with feelingsof anxiety and of depression whereas feelings of anxiety and depression werepositively intercorrelated Contrary to our hypotheses relative deprivation showed anegative relationship with depression
Next we proceeded to test the SEM model Fit indicators of the original model wereinadequate χ2(6)frac14 5451 pfrac14 000 CMINdffrac14 908 GFIfrac14 089 RMSEAfrac14 026AICfrac14 9851 BCCfrac14 10165 ECVIfrac14 082 (CI 90frac14 066105) MECVIfrac14 085 so themodel was re-specified The correlations between retirement self-efficacy low workinvolvement older worker identity and relative deprivation were added obtaining aprogressively better fit Based on their CR statistically nonsignificant relations such asthose between low work involvement and anxiety were eliminated The re-specifiedmodel showed better fit χ2(3)frac14 148 pfrac14 069 CMINdffrac14 049 GFIfrac14 099RMSEAfrac14 000 AICfrac14 515 BCCfrac14 5506 Additional analyses have been carried out totest cross-validation ECVIfrac14 043 (CI 90frac14 044048) MECVIfrac14 046 showed lower valuesthan the proposed models Finally the respecified model and its standardized estimationscan be observed in Figure 4 The percentage of variance explained by the modelseems low for each retirement pathway because it ranges between 27 and 34 per cent
The retirement adjustment model showed thatH6a-H6cwere totally confirmed Relatedto low work involvement only H7awas confirmed because the relationships with anxietyand depression failed to confirm H7b and H7c due to their lack of statistical significanceLow job involvement showed significant relationships with feelings of anxiety and thesedata allow us to confirm H8b while both H8b and H8c have been rejected
Older worker identity had a positive relationship with retirement satisfaction butwithout statistical significance (H9a) whereas the relationships with feelings of anxietyand depression proved to be stronger and negative as hypothesized (H9b and H9c)Regarding relative deprivation H10a-H10c were totally confirmed Regardingmultivariate analyses Table IV shows the main results which showed that the socio-demographic variables failed to account for the variance of the retirement adjustmentoutcomes (see Table IV) Retirement self-efficacy was the main significant antecedent
018
Retirementself-efficacy
Feelings ofDepression
032
032
032
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
ndash016
046
ndash048
H6a
H6bH6c
016H10aH10b
H10c
ndash037
025
Older workeridentity
H8a
011 ns
H9bndash026
H9c ndash026
H9a
017
Low jobinvolvement
H8b ndash019
H7a021Low work
involvement
042
027
045
ndash014
ndash024
ndash045
ndash040
045
Notes n= 218 plt005 plt001
Figure 4Standardized
estimates for Study 2(retirement
adjustment model)
397
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Retirem
entsatisfaction
Feelings
ofanxiety
Feelings
ofdepression
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
005
019
017
016
009
minus003
minus007
minus004
006
minus006
minus007
minus002
Employed
time
000
001
000
000
005
004
008
008
009
009
010
011
Retired
time
003
minus008
minus005
minus004
minus025
minus015
minus011
minus012
minus009
minus000
minus002
minus004
Independ
entvariables
RSE
044
044
044
minus040
minus038
minus039
minus041
minus040
minus042
LWI
000
000
021
020
005
004
LJI
013
011
minus017
minus014
minus015
minus009
OWI
007
minus014
minus028
RD
minus006
011
020
F042
123
909
693
275
1225
96
800
100
1055
789
891
ΔF
042
478
215
071
275
3924
366
272
100
387
207
1016
R2
minus000
018
018
018
002
018
020
021
000
015
016
023
ΔR2
0007
019
002
000
003
015
003
002
001
016
002
007
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativedeprivation
po
005
po
001po
0001po
010
Table IVResults ofmultivariateregression analysesfor Study 2 (retirees)
398
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
(for retirement satisfaction anxiety and depression criteria) with low work involvementolder worker identity and relative deprivation for anxiety and depression feelings Lowjob involvement failed to reach statistical significance for the depression analysis
Brief discussion on Study 2Study 2 provided evidence for the proposed pattern of relationships between retirementself-efficacy low work involvement older worker identity and relative deprivation andretirement adjustment among retirees Despite the absence of a significant associationbetween low work involvement and feelings of anxiety and depression it was shown thatretirement well-being was significantly explained by the hypothesized antecedentsGenerally speaking our data confirmed the proposed pattern of relationships betweenpsychosocial factors on the one hand and retirement adjustment on the other handdespite the fact that some of the pathways did not reach sufficient statistical power
General discussionThis work had two goals pursued by two empirical studies with two samples workersover 60 years and retirees Study 1 was aimed to analyse the impact of psychosocialfactors on retirement intentions Study 2 was conducted to confirm the impact of thesame psychosocial factors on retirement adjustment In general we can state that bothgoals were achieved Specifically we contend that the availability of two different sets ofdata increases the generalizability of our findings On the basis of these data it wasshown that conceptualizing retirement as an adjustment process provides a morecomprehensive approach to understanding the phenomena As Wang and Shultz (2010)emphasized this conceptualization views retirement as incorporating both the pathwaysfrom employment to retirement and a post-retirement trajectory which includes efforts toachieve psychological well-being in retirement As Beehr and Bennett (2007) havementioned although much information on the decision to retire is available there is lessinformation particularly in terms of an underlying framework on what happens toindividuals after they retire (Taylor-Carter and Cook 1995) and especially years afterthey have retired In this sense our study contributes to bridge this gap
Retirement intentionsIn a more general sense in Study 1 we attempted to overcome a generalized criticism tothe life course perspective which seems to provide a general framework for analyzingtransitions and for the study of the heterogeneity in the retirement experience but offersfew concrete hypotheses as to how and why specific life course transitions impinge onwell-being (Szinovacz 2003 Van Solinge 2013) As expected our results showed thathigh retirement self-efficacy low work involvement and strong older worker identitytend to decrease intentions to keep on working and in turn they tend to increase fullretirement intentions At the same time relative deprivation shows the opposite patternwith high values increasing intentions to engage in bridge employment and lateretirement Specifically our results are in line with those of Henkens and Tazelaar (1997)and Van Solinge and Henkens (2007) which found that social embeddedness at workcontributes to worker evaluations about the attractiveness to keep on working
These results partially confirm the general tendency of previous findings ofZaniboni and colleagues (2010) notwithstanding that specific instruments and typeof sample and organization were different In this sense our results supported theexpectation that this pattern of intentions would be confirmed with different sectorssuch as private employees It has been suggested that people have mixed intentions
399
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Retirement intentions and retirement adjustment outcomesThe conceptualization of retirement as an adjustment process allows us to explain whypeople make the same decision to retire but their chosen pathways to exit from worklead them to very different outcomes In this sense this work proposes to explore theimpact of the diverse above-mentioned psychosocial factors on the choice of the diversepathways to exit from work Considering the possible pathways to exit most authorshave used various categories that summarize the broad range of retirement intentionsin full retirement ndash in the sense of a ldquocold turkeyrdquo or abrupt retirement (Calvo et al2009) ndash partial retirement gradual or phased retirement late retirement bridgeemployment and re-entry (Alcover et al 2014 Cahill et al 2013)
Regarding retirement adjustment both the positive and the negative aspectswould be taken into account As Floyd et al (1992) stated the most essential index ofsubjective well-being for an individual is the personrsquos judgement of quality of lifeMaintaining satisfaction during retirement is associated with replacing rewardsgained from work activities with rewarding leisure activities so that the retireemaintains a stable ratio of reinforcements from pre- to post-retirement Retirementsatisfaction has been widely used as the main positive indicator of adjustment duringretirement and global indices of satisfaction appear to be relevant for all age groups(Floyd et al 1992) At the same time poor health has long been established as one ofthe most critical determinants of retirement behaviour but most previous studiesfocused on physical health while mental health also plays an important role forfunctioning and well-being in the retirement process (Kim and Moen 2002 Wang2007) The most common forms of mental illness in the European Union are anxietyand depression and empirical studies have included feelings of anxiety anddepression as indicators of adjustment in later life (Fletcher and Hansson 1991)Retirement anxiety is a generalized feeling of apprehension or worry regardinguncertain unpredictable and potentially disruptive consequences of retirementSpecifically related to relative deprivation a recent meta-analysis included feelingsof anxiety and depression as internal responses (Smith et al 2011)
The current investigationTwo studies examined the influence of psychosocial factors both on retirementintentions and retirement adjustment These studies focused on participants proximalto the retirement experience to ensure a proper examination of the common variablesthat affect both transitions and post-transition development
Study 1 examined whether retirement self-efficacy low work involvement low jobinvolvement older worker identity and relative deprivation significantly explainedretirement intentions (bridge employment engagement part-time retirement lateretirement and full retirement) of workers over 60 years Study 2 expanded this modelwith a new sample of recent retirees examining the relationships between retirementself-efficacy low work involvement low job involvement older worker identity andrelative deprivation significantly explained retirement adjustment (retirementsatisfaction feelings of anxiety and depression) The antecedent variables for Study 1and for Study 2 were the same while the outcome variables differed in both studies
Study 1The first study investigated the influences of retirement self-efficacy low workinvolvement low job involvement older worker identity and relative deprivation on
388
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement intentions Based on the literature reviewed we propose the followinghypotheses (see Figure 1)
H1 Regarding person-related variables (a) high retirement self-efficacy will benegatively related to bridge employment (b) to partial (c) late retirement and (d)positively related to full retirement
H2 Regarding retirement-related variables (a) low work involvement will benegatively related to bridge employment (b) to partial (c) late retirement and(d) positively related to full retirement
H3 (a) Low job involvement will be negatively related to bridge employment (b) topartial (c) late retirement and (d) positively related to full retirement
H4 Regarding contextual variables (a) strong older worker identity will benegatively related to bridge employment (b) to partial (c) late retirement and(d) positively related to full retirement
H5 (a) High relative deprivation will be negatively related to bridge employment(b) to partial (c) late retirement and (d) positively related to full retirement
MethodParticipants and procedureAged workers (nfrac14 157) from several Spanish firms participated in this studyParticipants were recruited due to their proximal anticipation of retirement becausethey were already aged 60 We contacted potential participants on the basis of thepersonnel list of the organizations explained to them the purpose of our study andinvited them to participate in our research Survey packages sets were distributed tothose who agreed to participate by collaborators of the research team who performedthe task after having received precise instructions in order to homogenize theadministration procedure Each set contains a cover letter an informed consent a
ndash
ndash
ndash
+
ndash
ndash
ndash
+
ndash
+
ndash
ndash
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
FullRetirement
Lateretirement
Part-timeretirement
Relativedeprivation
BridgeEmploymentH1b
H1cH1d
H5a
H5cH5d
H3aH3b
Older workeridentity
H3c
H4d
H1a
H3d
H4a H4b
H5b
H4c
Low workinvolvement
ndash
+
+
ndash
ndash
ndash
ndashndash
Low jobinvolvement
H2a
H2b
H2c
H2d
Figure 1Hypothesized model
for Study 1retirement intentions
model (agedworkers)
389
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
questionnaire and a return envelope In the cover letter participants were informed ofthe goal of the study and the anonymity of the data collected Participants wereinformed about the study objectives the variables included on it their rights regardingpersonal data protection and his explicit agreement to participate voluntarily in thestudy Then they completed a workbook containing the diverse scales of the studyCompleted questionnaires and informed consent were mailed back to the researchersdirectly using the pre-paid return envelope included in the survey set A reminderwas sent out to all participants to return the survey one month later In total200 questionnaire packages were distributed and 180 aged workers returned completedforms After excluding returned surveys that had missing data (25 per cent) the finalsample size of participants for analysis was 157
Descriptive analyses showed that mean age was 60 years (SDfrac14 43) The mean timeemployed was 369 years (SDfrac14 87) whereas the mean time in the same organizationwas 255 years (SDfrac14 109) In this sample the percentage of men was 551 per cent Jobtype distribution showed that the firms were aimed to education (28 per cent) health(26 per cent) services (16 per cent) manufacturing (15 per cent) others (15 per cent)
MeasuresSocio-demographic data Participants provided information about their age genderseniority in their organizations and employed time
Retirement self-efficacy We used 13 items of the Retirement Self-Efficacy Scale(Harper 2005) which provides a set of items that focus on confidence in performing awide variety of the subtasks of retirement health financial activities government andpension regulations and retirement itself Cronbachrsquos coefficient of αfrac14 097 has beenreported Response scales ranged from 1 (very little confidence) to 5 (quite a lot ofconfidence) Examples of items are ldquoCope with changes in retirementrdquo ldquoPlan leisuretimerdquo ldquoAdjust successfully to retirementrdquo ldquoMaintain any current skills or knowledge thatyou want to maintainrdquo or ldquoRemain active at homerdquo Reliability in this study was αfrac14 092
Older worker identity We used the self-descriptive component of the Older WorkerIdentity Scale (Tougas et al 2004) which includes ten items from the original scaleThe questionnaire required participants to appraise their motivation creativity andflexibility on a five-point scale ranging between 1 (totally disagree) and 5 (totally agree)The scale reached a reliability of αfrac14 080 among participants in this study Examplesof items are ldquoI amwas less effective in accomplishing my workrdquo ldquoI became lesscreative in accomplishing my workrdquo ldquoI amwas no longer motivated to accomplish mytasksrdquo and ldquoI became less adaptable and flexiblerdquo
Low work involvement The work involvement questionnaire (Kanungo 1982) wasused We included two items ldquoThe most important things that happen to me involvemy present workrdquo ldquoMost of my personal life goals are work-orientedrdquo Items werereversed to reflect low involvement Response scale ranged from 1 (totally disagree) to5 (totally agree) This scale reached αfrac14 085 in this study
Low job involvement The job involvement questionnaire (Kanungo 1982) was usedWe included two items ldquoMost of my interests are centred on my jobrdquo ldquoI consider my jobto be very central to my existencerdquo Items were reversed to reflect low involvementResponse scale ranged from 1 (totally disagree) to 5 (totally agree) This scale reachedαfrac14 083 in this study
Relative deprivation We used three items from the Personal Relative DeprivationScale (Tougas et al 1991) ldquoI have the impression that we were less appreciated that
390
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
younger workersrdquo (appreciation) ldquoWe have the impression that our work wasevaluated less well than that of those younger than usrdquo (evaluation) ldquoWe think that wehad less opportunity for promotion that those younger than usrdquo (promotion) Thescale reached a reliability of αfrac14 065 among the participants in this study
Retirement intentions Participants were asked to agree or disagree with fourstatements that reflect different pathways for retirement following the procedure ofprevious studies (Zaniboni et al 2010) full retirement (ldquoI will retire as soon aspossiblerdquo) part-time retirement (ldquoEven when I could already retire I would keep onworking but reducing my actual work timerdquo) late retirement (ldquoEven when I can retireI will keep on workingrdquo) bridge employment (ldquoEven when I can retire I will keep onworking but changing job typerdquo)
Overview of analysesFirst as self-report questionnaires were used to collect the data at the same time fromthe same participants common method variance may be a concern In order to testwhether variance in the data can be largely attributed to a single factor we used thepost hoc Harman one-factor analysis (Podsakoff et al 2003) Second descriptiveanalyses were studied in addition to the inter-correlations of all the variables Third inorder to test our hypothesis we performed structural equation modelling (SEM) usingthe maximum likelihood procedure and the original data as input with AMOS 200 TheSEM model included four latent exogenous variables and four latent endogenousvariables Finally in order to show the potentially differential impacts of the personalretirement-related and contextual variables we run several multivariate regressionanalyses as an anonymous reviewer suggested
To test the fit of the models several indexes are recommended such as χ2 and its levelof probability the goodness of fit index (GFI) and the root mean square error ofapproximation (RMSEA) Comparative indexes have been used such as the Akaikeinformation criterion (AIC) and the Browne-Cudek criterion (BCC) with simpler modelsachieving low values because both indexes penalize complex models with a poor fit to thedata Three more indexes are also used to compare models the Expected Cross-ValidationIndex (ECVI similar to the AIC and the BCC) In both of them the simpler models withbetter fit achieve low values whereas the more complex models with poorer fit reach highscores because both indexes penalize complex models with a poor fit to the data
ResultsIn order to apply the post hoc Harman one-factor analysis (Podsakoff et al 2003) weexamined the results of preliminary exploratory factor analysis which showed that asingle factor only accounted for 24 per cent of the variance Hence a single factorcannot account for the variance in the data and we cannot consider the commonmethod variance to be a serious deficiency in this data set
Table I show the means standard deviations and inter-correlations of the variablesCorrelation matrix analysis provided preliminary support for the hypotheses In thisstudy psychosocial factors were intercorrelated Retirement self-efficacy hadsignificant and negative relations both with older worker identity low workinvolvement low job involvement and relative deprivation At the same time olderworker identity was positively and significantly correlated with relative deprivationConcerning consequences all the variables were highly correlated The relationshipbetween full retirement and the other pathways from work were negative
391
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
In the next step we proceeded to test our SEM models Regarding the retirementintentions model the fit indicators of the original model were inadequateχ2(12)frac14 1723 pfrac14 000 CMINdffrac14 144 GFIfrac14 075 RMSEAfrac14 029 AICfrac14 2203BCCfrac14 2937 ECVIfrac14 147 (CI 90frac14 121178) MECVIfrac14 149 so the model was re-specified The correlations between retirement self-efficacy older worker identity andrelative deprivation were added obtaining a progressively better fit Based on theircritical ratios (CR) statistically nonsignificant relations such as those betweenretirement self-efficacy and bridge employment among others were eliminatedDespite this decision the relationship between relative deprivation and full retirementwas retained due its theoretical meaning The re-specified model showed better fitχ2(7)frac14 374 pfrac14 081 CMINdffrac14 054 GFIfrac14 099 RMSEAfrac14 000 AICfrac14 6175BCCfrac14 6529 Additional analyses have been carried out to test cross-validationECVIfrac14 042 (CI 90frac14 044048) MECVIfrac14 045 showed lower values than the proposedmodels Standardized estimations for the re-specified model can be observed inFigure 2 The percentage of variance explained by the model seems low for eachretirement pathway because it ranges between 07 and 25 per cent
The examination of the standardized estimates in the final model allows us to state thatour hypotheses have been partially confirmed Related to retirement self-efficacy ourresults showed that it was positively related to full retirement and negatively related topartial and late retirement confirming H1b-H1d The relationship between retirementself-efficacy and bridge employment showed the expected direction (H1a) but failed toreach statistical significance
Related to low work involvement only H2a and H2c were supported Directpathways from low work involvement to full retirement and to partial did not showstatistical relevance (H2b and H2d) Low job involvement showed the hypthesizednegative relationship with partial retirement confirming H3b while the othershypotheses have been rejected (H3a-H3d)
Regarding older worker identity our results confirmed the hypothesizedrelationships positive relationship with full retirement (H4d) and negative relationshipwith late retirement (H4c) whereas data failed to confirm our hypotheses for bridgeemployment (H4a) and partial retirement (H4b) due to lack of statistical significanceFinally regarding relative deprivation only H5a-H5d were confirmed by data whereasH4b failed to reach statistical confirmation
Regarding multivariate analyses Table II shows the main results which showedthat the socio-demographic variables failed to account for the variance of the retirementintention outcomes (see Table II) Retirement self-efficacy was the main significantantecedent (for partial late and full-retirement criteria) with older worker identity andrelative deprivation for full retirement Low work involvement and low job involvementfailed to reach statistical significance
Brief discussion on Study 1Study 1 successfully confirmed the proposed hypotheses First retirement self-efficacyand older worker identity showed powerful positive influences on full retirementintention Second late retirement has been negatively influenced by all the psychosocialfactors Finally partial retirement and bridge employment showed a more complexpattern of relationships according to the percentage of variance accounted for the modelA general discussion in deep will be offered later comprising Studies 1 and 2
Study 2The second study investigated the influences of retirement self-efficacy low workinvolvement older worker identity and relative deprivation on retirement adjustmentBased on the literature reviewed we propose the following hypotheses (see Figure 3)
H6 Regarding person-related variables (a) high retirement self-efficacy will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H7 Regarding retirement-related variables (a) low work involvement will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H8 (a) Low job involvement will be positively related to retirement satisfaction(b) negatively related to feelings of anxiety and (c) of depression
H9 Regarding contextual variables (a) strong older worker identity will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
393
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Bridg
eem
ployment
Partialretirem
ent
Late
retirem
ent
Fullretirem
ent
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
002
002
minus000
minus001
minus013
minus014
minus016
minus016
minus002
minus003
minus006
minus007
004
006
008
010
Employed
time
002
minus000
minus000
001
010
002
001
001
002
minus006
minus006
minus003
minus002
012
011
008
Jobseniority
minus009
minus007
minus006
minus007
minus011
minus005
minus003
minus001
003
008
010
011
013
003
002
001
Independ
entvariables
RSE
minus006
minus002
minus005
minus025
minus021
minus022
minus023
minus019
minus024
044
043
049
LWI
minus011
minus007
minus004
minus004
minus014
minus007
011
004
LJI
minus010
minus013
minus020
minus019
minus012
minus015
004
001
OWI
minus005
minus009
minus021
027
RD
minus019
007
minus014
014
F034
038
114
165
102
297
33
262
008
181
251
374
08
816
565
748
ΔF
034
049
264
309
102
864
372
064
008
69
37
68
080
297
068
106
R2
minus001
minus002
000
004
000
005
009
008
minus002
002
010
018
minus000
017
016
027
ΔR2
0007
0003
004
004
002
005
004
000
000
005
005
008
002
017
000
011
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativ
edeprivation
po
005po
001
p
o0001po
010
Table IIResults ofmultivariateregression analysesfor Study 1 (agedworkers)
394
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
H10 (a) High relative deprivation will be negatively related to retirementsatisfaction (b) positively related to feelings of anxiety and (c) of depression
MethodParticipants and procedureThe Study 2 was conducted with retirees (nfrac14 218) and included participants whohad retired at least two years ago Retirees had previously worked in the sameorganizations that the employees of the first sample They were identified bythe research team through personnel archives of these organizations and then thecollaborators of the research team contacted to the potential participants by e-mailexplained to them the purpose of our study and invited them to participate voluntarilyin exchange of a lottery reward Survey packages sets ndash cover letter informed consentquestionnaire and the return envelope ndash were sent to those who agreed to participateCompleted questionnaires and informed consent were mailed back to the researchersusing the pre-paid return envelope A reminder was sent out to all participants to returnthe survey one month later In total 300 questionnaire packages were distributed and235 retirees returned completed forms After excluding those with several missing data(18 per cent) the final sample size included 218 retirees
These participants had a mean age of 68 years (SDfrac14 72) and the mean timeemployed was 382 years (SDfrac14 109) whereas the mean retired time was 65 years(SDfrac14 58) In this study the percentage of men was 706 per cent Job type distributionshowed that the firms were aimed to education (32 per cent) health (30 per cent) services(12 per cent) manufacturing (18 per cent) and others (8 per cent)
MeasuresAntecedent variables for this study were similar to Study 1 Socio-demographic dataretirement self-efficacy older worker identity low work involvement and relativedeprivation were measured as per Study 1 Reliabilities values in this study wereαfrac14 089 for retirement self-efficacy αfrac14 077 for older worker identity αfrac14 079 for low
+
ndash
ndash
+
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
Feelings ofDepression
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
H6a
H6bH6c
H10aH10b
H10c
Older workeridentity
H7a
H9b
H9c
H9a
Low workinvolvement
H7b
H7c
+
ndash
ndash
+
ndash
ndash
+
ndash
ndash
ndash
Low jobinvolvement
H8a
H8b
H8c
ndash
Figure 3Hypothesized model
for Study 2retirement
adjustment model(retirees)
395
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
work involvement and αfrac14 067 for relative deprivation Consequences were measuredas follows
Retirement satisfaction We used the satisfaction with life subscale of the retirementsatisfaction inventory (Floyd et al 1992) which included 11 items Many aspectsincluded are common to other life satisfaction scales (financial resources or interpersonalrelations) whereas other aspects are particularly relevant for future retirees such asaccess to social services or transportation Cronbachrsquos α reliability for the originalsubscale was αfrac14 081 Respondents used a response scale from 1 (totally unsatisfied)to 5 (totally satisfied)
Feelings of anxiety We used a measure of low psychological well-being developedad hoc for the study based on the model of measurement of well-being proposed byWarr (1990) This measure consisted of a single item ldquoIf you think about yourretirement how much anxiety do you feelrdquo The response scale ranged from 1 (verylittle anxiety) to 5 (quite a lot of anxiety)
Feelings of depression We used a measure of low psychological well-being developedad hoc based on Warr (1990) This measure consisted of a single item ldquoIf you thinkabout your retirement how much depression do you feelrdquo The response scale rangedfrom 1 (very little depression) to 5 (quite a lot of depression)
Overview of analysesSimilar procedures have been used to conduct the data analyses for this study applyingrecommendations to minimize the common method variance exploring correlationsamong the variables third testing hypotheses trough a SEM analysis and finallyconducting multivariate regression analyses which allow us introduce antecedents stepby step The SEM model in Study 2 included four latent exogenous variables and threelatent endogenous variables
ResultsThe results of preliminary exploratory factor analysis showed that a single factor onlyaccounted for 235 per cent of the variance (Podsakoff et al 2003) supporting that wecannot consider the common method variance to be a serious deficiency in this data setTable III show the means standard deviations and inter-correlations Psychosocialfactors showed a complex pattern of relationships Retirement self-efficacy wasnegatively related both to older worker identity and to relative deprivation but had anegligible relation with low work involvement Older worker identity had a positiverelationship both with low work involvement low job involvement and relativedeprivation as expected Consequences were significantly related showing an
expected pattern retirement satisfaction had a negative relationship both with feelingsof anxiety and of depression whereas feelings of anxiety and depression werepositively intercorrelated Contrary to our hypotheses relative deprivation showed anegative relationship with depression
Next we proceeded to test the SEM model Fit indicators of the original model wereinadequate χ2(6)frac14 5451 pfrac14 000 CMINdffrac14 908 GFIfrac14 089 RMSEAfrac14 026AICfrac14 9851 BCCfrac14 10165 ECVIfrac14 082 (CI 90frac14 066105) MECVIfrac14 085 so themodel was re-specified The correlations between retirement self-efficacy low workinvolvement older worker identity and relative deprivation were added obtaining aprogressively better fit Based on their CR statistically nonsignificant relations such asthose between low work involvement and anxiety were eliminated The re-specifiedmodel showed better fit χ2(3)frac14 148 pfrac14 069 CMINdffrac14 049 GFIfrac14 099RMSEAfrac14 000 AICfrac14 515 BCCfrac14 5506 Additional analyses have been carried out totest cross-validation ECVIfrac14 043 (CI 90frac14 044048) MECVIfrac14 046 showed lower valuesthan the proposed models Finally the respecified model and its standardized estimationscan be observed in Figure 4 The percentage of variance explained by the modelseems low for each retirement pathway because it ranges between 27 and 34 per cent
The retirement adjustment model showed thatH6a-H6cwere totally confirmed Relatedto low work involvement only H7awas confirmed because the relationships with anxietyand depression failed to confirm H7b and H7c due to their lack of statistical significanceLow job involvement showed significant relationships with feelings of anxiety and thesedata allow us to confirm H8b while both H8b and H8c have been rejected
Older worker identity had a positive relationship with retirement satisfaction butwithout statistical significance (H9a) whereas the relationships with feelings of anxietyand depression proved to be stronger and negative as hypothesized (H9b and H9c)Regarding relative deprivation H10a-H10c were totally confirmed Regardingmultivariate analyses Table IV shows the main results which showed that the socio-demographic variables failed to account for the variance of the retirement adjustmentoutcomes (see Table IV) Retirement self-efficacy was the main significant antecedent
018
Retirementself-efficacy
Feelings ofDepression
032
032
032
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
ndash016
046
ndash048
H6a
H6bH6c
016H10aH10b
H10c
ndash037
025
Older workeridentity
H8a
011 ns
H9bndash026
H9c ndash026
H9a
017
Low jobinvolvement
H8b ndash019
H7a021Low work
involvement
042
027
045
ndash014
ndash024
ndash045
ndash040
045
Notes n= 218 plt005 plt001
Figure 4Standardized
estimates for Study 2(retirement
adjustment model)
397
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Retirem
entsatisfaction
Feelings
ofanxiety
Feelings
ofdepression
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
005
019
017
016
009
minus003
minus007
minus004
006
minus006
minus007
minus002
Employed
time
000
001
000
000
005
004
008
008
009
009
010
011
Retired
time
003
minus008
minus005
minus004
minus025
minus015
minus011
minus012
minus009
minus000
minus002
minus004
Independ
entvariables
RSE
044
044
044
minus040
minus038
minus039
minus041
minus040
minus042
LWI
000
000
021
020
005
004
LJI
013
011
minus017
minus014
minus015
minus009
OWI
007
minus014
minus028
RD
minus006
011
020
F042
123
909
693
275
1225
96
800
100
1055
789
891
ΔF
042
478
215
071
275
3924
366
272
100
387
207
1016
R2
minus000
018
018
018
002
018
020
021
000
015
016
023
ΔR2
0007
019
002
000
003
015
003
002
001
016
002
007
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativedeprivation
po
005
po
001po
0001po
010
Table IVResults ofmultivariateregression analysesfor Study 2 (retirees)
398
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
(for retirement satisfaction anxiety and depression criteria) with low work involvementolder worker identity and relative deprivation for anxiety and depression feelings Lowjob involvement failed to reach statistical significance for the depression analysis
Brief discussion on Study 2Study 2 provided evidence for the proposed pattern of relationships between retirementself-efficacy low work involvement older worker identity and relative deprivation andretirement adjustment among retirees Despite the absence of a significant associationbetween low work involvement and feelings of anxiety and depression it was shown thatretirement well-being was significantly explained by the hypothesized antecedentsGenerally speaking our data confirmed the proposed pattern of relationships betweenpsychosocial factors on the one hand and retirement adjustment on the other handdespite the fact that some of the pathways did not reach sufficient statistical power
General discussionThis work had two goals pursued by two empirical studies with two samples workersover 60 years and retirees Study 1 was aimed to analyse the impact of psychosocialfactors on retirement intentions Study 2 was conducted to confirm the impact of thesame psychosocial factors on retirement adjustment In general we can state that bothgoals were achieved Specifically we contend that the availability of two different sets ofdata increases the generalizability of our findings On the basis of these data it wasshown that conceptualizing retirement as an adjustment process provides a morecomprehensive approach to understanding the phenomena As Wang and Shultz (2010)emphasized this conceptualization views retirement as incorporating both the pathwaysfrom employment to retirement and a post-retirement trajectory which includes efforts toachieve psychological well-being in retirement As Beehr and Bennett (2007) havementioned although much information on the decision to retire is available there is lessinformation particularly in terms of an underlying framework on what happens toindividuals after they retire (Taylor-Carter and Cook 1995) and especially years afterthey have retired In this sense our study contributes to bridge this gap
Retirement intentionsIn a more general sense in Study 1 we attempted to overcome a generalized criticism tothe life course perspective which seems to provide a general framework for analyzingtransitions and for the study of the heterogeneity in the retirement experience but offersfew concrete hypotheses as to how and why specific life course transitions impinge onwell-being (Szinovacz 2003 Van Solinge 2013) As expected our results showed thathigh retirement self-efficacy low work involvement and strong older worker identitytend to decrease intentions to keep on working and in turn they tend to increase fullretirement intentions At the same time relative deprivation shows the opposite patternwith high values increasing intentions to engage in bridge employment and lateretirement Specifically our results are in line with those of Henkens and Tazelaar (1997)and Van Solinge and Henkens (2007) which found that social embeddedness at workcontributes to worker evaluations about the attractiveness to keep on working
These results partially confirm the general tendency of previous findings ofZaniboni and colleagues (2010) notwithstanding that specific instruments and typeof sample and organization were different In this sense our results supported theexpectation that this pattern of intentions would be confirmed with different sectorssuch as private employees It has been suggested that people have mixed intentions
399
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement intentions Based on the literature reviewed we propose the followinghypotheses (see Figure 1)
H1 Regarding person-related variables (a) high retirement self-efficacy will benegatively related to bridge employment (b) to partial (c) late retirement and (d)positively related to full retirement
H2 Regarding retirement-related variables (a) low work involvement will benegatively related to bridge employment (b) to partial (c) late retirement and(d) positively related to full retirement
H3 (a) Low job involvement will be negatively related to bridge employment (b) topartial (c) late retirement and (d) positively related to full retirement
H4 Regarding contextual variables (a) strong older worker identity will benegatively related to bridge employment (b) to partial (c) late retirement and(d) positively related to full retirement
H5 (a) High relative deprivation will be negatively related to bridge employment(b) to partial (c) late retirement and (d) positively related to full retirement
MethodParticipants and procedureAged workers (nfrac14 157) from several Spanish firms participated in this studyParticipants were recruited due to their proximal anticipation of retirement becausethey were already aged 60 We contacted potential participants on the basis of thepersonnel list of the organizations explained to them the purpose of our study andinvited them to participate in our research Survey packages sets were distributed tothose who agreed to participate by collaborators of the research team who performedthe task after having received precise instructions in order to homogenize theadministration procedure Each set contains a cover letter an informed consent a
ndash
ndash
ndash
+
ndash
ndash
ndash
+
ndash
+
ndash
ndash
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
FullRetirement
Lateretirement
Part-timeretirement
Relativedeprivation
BridgeEmploymentH1b
H1cH1d
H5a
H5cH5d
H3aH3b
Older workeridentity
H3c
H4d
H1a
H3d
H4a H4b
H5b
H4c
Low workinvolvement
ndash
+
+
ndash
ndash
ndash
ndashndash
Low jobinvolvement
H2a
H2b
H2c
H2d
Figure 1Hypothesized model
for Study 1retirement intentions
model (agedworkers)
389
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
questionnaire and a return envelope In the cover letter participants were informed ofthe goal of the study and the anonymity of the data collected Participants wereinformed about the study objectives the variables included on it their rights regardingpersonal data protection and his explicit agreement to participate voluntarily in thestudy Then they completed a workbook containing the diverse scales of the studyCompleted questionnaires and informed consent were mailed back to the researchersdirectly using the pre-paid return envelope included in the survey set A reminderwas sent out to all participants to return the survey one month later In total200 questionnaire packages were distributed and 180 aged workers returned completedforms After excluding returned surveys that had missing data (25 per cent) the finalsample size of participants for analysis was 157
Descriptive analyses showed that mean age was 60 years (SDfrac14 43) The mean timeemployed was 369 years (SDfrac14 87) whereas the mean time in the same organizationwas 255 years (SDfrac14 109) In this sample the percentage of men was 551 per cent Jobtype distribution showed that the firms were aimed to education (28 per cent) health(26 per cent) services (16 per cent) manufacturing (15 per cent) others (15 per cent)
MeasuresSocio-demographic data Participants provided information about their age genderseniority in their organizations and employed time
Retirement self-efficacy We used 13 items of the Retirement Self-Efficacy Scale(Harper 2005) which provides a set of items that focus on confidence in performing awide variety of the subtasks of retirement health financial activities government andpension regulations and retirement itself Cronbachrsquos coefficient of αfrac14 097 has beenreported Response scales ranged from 1 (very little confidence) to 5 (quite a lot ofconfidence) Examples of items are ldquoCope with changes in retirementrdquo ldquoPlan leisuretimerdquo ldquoAdjust successfully to retirementrdquo ldquoMaintain any current skills or knowledge thatyou want to maintainrdquo or ldquoRemain active at homerdquo Reliability in this study was αfrac14 092
Older worker identity We used the self-descriptive component of the Older WorkerIdentity Scale (Tougas et al 2004) which includes ten items from the original scaleThe questionnaire required participants to appraise their motivation creativity andflexibility on a five-point scale ranging between 1 (totally disagree) and 5 (totally agree)The scale reached a reliability of αfrac14 080 among participants in this study Examplesof items are ldquoI amwas less effective in accomplishing my workrdquo ldquoI became lesscreative in accomplishing my workrdquo ldquoI amwas no longer motivated to accomplish mytasksrdquo and ldquoI became less adaptable and flexiblerdquo
Low work involvement The work involvement questionnaire (Kanungo 1982) wasused We included two items ldquoThe most important things that happen to me involvemy present workrdquo ldquoMost of my personal life goals are work-orientedrdquo Items werereversed to reflect low involvement Response scale ranged from 1 (totally disagree) to5 (totally agree) This scale reached αfrac14 085 in this study
Low job involvement The job involvement questionnaire (Kanungo 1982) was usedWe included two items ldquoMost of my interests are centred on my jobrdquo ldquoI consider my jobto be very central to my existencerdquo Items were reversed to reflect low involvementResponse scale ranged from 1 (totally disagree) to 5 (totally agree) This scale reachedαfrac14 083 in this study
Relative deprivation We used three items from the Personal Relative DeprivationScale (Tougas et al 1991) ldquoI have the impression that we were less appreciated that
390
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
younger workersrdquo (appreciation) ldquoWe have the impression that our work wasevaluated less well than that of those younger than usrdquo (evaluation) ldquoWe think that wehad less opportunity for promotion that those younger than usrdquo (promotion) Thescale reached a reliability of αfrac14 065 among the participants in this study
Retirement intentions Participants were asked to agree or disagree with fourstatements that reflect different pathways for retirement following the procedure ofprevious studies (Zaniboni et al 2010) full retirement (ldquoI will retire as soon aspossiblerdquo) part-time retirement (ldquoEven when I could already retire I would keep onworking but reducing my actual work timerdquo) late retirement (ldquoEven when I can retireI will keep on workingrdquo) bridge employment (ldquoEven when I can retire I will keep onworking but changing job typerdquo)
Overview of analysesFirst as self-report questionnaires were used to collect the data at the same time fromthe same participants common method variance may be a concern In order to testwhether variance in the data can be largely attributed to a single factor we used thepost hoc Harman one-factor analysis (Podsakoff et al 2003) Second descriptiveanalyses were studied in addition to the inter-correlations of all the variables Third inorder to test our hypothesis we performed structural equation modelling (SEM) usingthe maximum likelihood procedure and the original data as input with AMOS 200 TheSEM model included four latent exogenous variables and four latent endogenousvariables Finally in order to show the potentially differential impacts of the personalretirement-related and contextual variables we run several multivariate regressionanalyses as an anonymous reviewer suggested
To test the fit of the models several indexes are recommended such as χ2 and its levelof probability the goodness of fit index (GFI) and the root mean square error ofapproximation (RMSEA) Comparative indexes have been used such as the Akaikeinformation criterion (AIC) and the Browne-Cudek criterion (BCC) with simpler modelsachieving low values because both indexes penalize complex models with a poor fit to thedata Three more indexes are also used to compare models the Expected Cross-ValidationIndex (ECVI similar to the AIC and the BCC) In both of them the simpler models withbetter fit achieve low values whereas the more complex models with poorer fit reach highscores because both indexes penalize complex models with a poor fit to the data
ResultsIn order to apply the post hoc Harman one-factor analysis (Podsakoff et al 2003) weexamined the results of preliminary exploratory factor analysis which showed that asingle factor only accounted for 24 per cent of the variance Hence a single factorcannot account for the variance in the data and we cannot consider the commonmethod variance to be a serious deficiency in this data set
Table I show the means standard deviations and inter-correlations of the variablesCorrelation matrix analysis provided preliminary support for the hypotheses In thisstudy psychosocial factors were intercorrelated Retirement self-efficacy hadsignificant and negative relations both with older worker identity low workinvolvement low job involvement and relative deprivation At the same time olderworker identity was positively and significantly correlated with relative deprivationConcerning consequences all the variables were highly correlated The relationshipbetween full retirement and the other pathways from work were negative
391
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
In the next step we proceeded to test our SEM models Regarding the retirementintentions model the fit indicators of the original model were inadequateχ2(12)frac14 1723 pfrac14 000 CMINdffrac14 144 GFIfrac14 075 RMSEAfrac14 029 AICfrac14 2203BCCfrac14 2937 ECVIfrac14 147 (CI 90frac14 121178) MECVIfrac14 149 so the model was re-specified The correlations between retirement self-efficacy older worker identity andrelative deprivation were added obtaining a progressively better fit Based on theircritical ratios (CR) statistically nonsignificant relations such as those betweenretirement self-efficacy and bridge employment among others were eliminatedDespite this decision the relationship between relative deprivation and full retirementwas retained due its theoretical meaning The re-specified model showed better fitχ2(7)frac14 374 pfrac14 081 CMINdffrac14 054 GFIfrac14 099 RMSEAfrac14 000 AICfrac14 6175BCCfrac14 6529 Additional analyses have been carried out to test cross-validationECVIfrac14 042 (CI 90frac14 044048) MECVIfrac14 045 showed lower values than the proposedmodels Standardized estimations for the re-specified model can be observed inFigure 2 The percentage of variance explained by the model seems low for eachretirement pathway because it ranges between 07 and 25 per cent
The examination of the standardized estimates in the final model allows us to state thatour hypotheses have been partially confirmed Related to retirement self-efficacy ourresults showed that it was positively related to full retirement and negatively related topartial and late retirement confirming H1b-H1d The relationship between retirementself-efficacy and bridge employment showed the expected direction (H1a) but failed toreach statistical significance
Related to low work involvement only H2a and H2c were supported Directpathways from low work involvement to full retirement and to partial did not showstatistical relevance (H2b and H2d) Low job involvement showed the hypthesizednegative relationship with partial retirement confirming H3b while the othershypotheses have been rejected (H3a-H3d)
Regarding older worker identity our results confirmed the hypothesizedrelationships positive relationship with full retirement (H4d) and negative relationshipwith late retirement (H4c) whereas data failed to confirm our hypotheses for bridgeemployment (H4a) and partial retirement (H4b) due to lack of statistical significanceFinally regarding relative deprivation only H5a-H5d were confirmed by data whereasH4b failed to reach statistical confirmation
Regarding multivariate analyses Table II shows the main results which showedthat the socio-demographic variables failed to account for the variance of the retirementintention outcomes (see Table II) Retirement self-efficacy was the main significantantecedent (for partial late and full-retirement criteria) with older worker identity andrelative deprivation for full retirement Low work involvement and low job involvementfailed to reach statistical significance
Brief discussion on Study 1Study 1 successfully confirmed the proposed hypotheses First retirement self-efficacyand older worker identity showed powerful positive influences on full retirementintention Second late retirement has been negatively influenced by all the psychosocialfactors Finally partial retirement and bridge employment showed a more complexpattern of relationships according to the percentage of variance accounted for the modelA general discussion in deep will be offered later comprising Studies 1 and 2
Study 2The second study investigated the influences of retirement self-efficacy low workinvolvement older worker identity and relative deprivation on retirement adjustmentBased on the literature reviewed we propose the following hypotheses (see Figure 3)
H6 Regarding person-related variables (a) high retirement self-efficacy will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H7 Regarding retirement-related variables (a) low work involvement will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H8 (a) Low job involvement will be positively related to retirement satisfaction(b) negatively related to feelings of anxiety and (c) of depression
H9 Regarding contextual variables (a) strong older worker identity will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
393
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Bridg
eem
ployment
Partialretirem
ent
Late
retirem
ent
Fullretirem
ent
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
002
002
minus000
minus001
minus013
minus014
minus016
minus016
minus002
minus003
minus006
minus007
004
006
008
010
Employed
time
002
minus000
minus000
001
010
002
001
001
002
minus006
minus006
minus003
minus002
012
011
008
Jobseniority
minus009
minus007
minus006
minus007
minus011
minus005
minus003
minus001
003
008
010
011
013
003
002
001
Independ
entvariables
RSE
minus006
minus002
minus005
minus025
minus021
minus022
minus023
minus019
minus024
044
043
049
LWI
minus011
minus007
minus004
minus004
minus014
minus007
011
004
LJI
minus010
minus013
minus020
minus019
minus012
minus015
004
001
OWI
minus005
minus009
minus021
027
RD
minus019
007
minus014
014
F034
038
114
165
102
297
33
262
008
181
251
374
08
816
565
748
ΔF
034
049
264
309
102
864
372
064
008
69
37
68
080
297
068
106
R2
minus001
minus002
000
004
000
005
009
008
minus002
002
010
018
minus000
017
016
027
ΔR2
0007
0003
004
004
002
005
004
000
000
005
005
008
002
017
000
011
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativ
edeprivation
po
005po
001
p
o0001po
010
Table IIResults ofmultivariateregression analysesfor Study 1 (agedworkers)
394
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
H10 (a) High relative deprivation will be negatively related to retirementsatisfaction (b) positively related to feelings of anxiety and (c) of depression
MethodParticipants and procedureThe Study 2 was conducted with retirees (nfrac14 218) and included participants whohad retired at least two years ago Retirees had previously worked in the sameorganizations that the employees of the first sample They were identified bythe research team through personnel archives of these organizations and then thecollaborators of the research team contacted to the potential participants by e-mailexplained to them the purpose of our study and invited them to participate voluntarilyin exchange of a lottery reward Survey packages sets ndash cover letter informed consentquestionnaire and the return envelope ndash were sent to those who agreed to participateCompleted questionnaires and informed consent were mailed back to the researchersusing the pre-paid return envelope A reminder was sent out to all participants to returnthe survey one month later In total 300 questionnaire packages were distributed and235 retirees returned completed forms After excluding those with several missing data(18 per cent) the final sample size included 218 retirees
These participants had a mean age of 68 years (SDfrac14 72) and the mean timeemployed was 382 years (SDfrac14 109) whereas the mean retired time was 65 years(SDfrac14 58) In this study the percentage of men was 706 per cent Job type distributionshowed that the firms were aimed to education (32 per cent) health (30 per cent) services(12 per cent) manufacturing (18 per cent) and others (8 per cent)
MeasuresAntecedent variables for this study were similar to Study 1 Socio-demographic dataretirement self-efficacy older worker identity low work involvement and relativedeprivation were measured as per Study 1 Reliabilities values in this study wereαfrac14 089 for retirement self-efficacy αfrac14 077 for older worker identity αfrac14 079 for low
+
ndash
ndash
+
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
Feelings ofDepression
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
H6a
H6bH6c
H10aH10b
H10c
Older workeridentity
H7a
H9b
H9c
H9a
Low workinvolvement
H7b
H7c
+
ndash
ndash
+
ndash
ndash
+
ndash
ndash
ndash
Low jobinvolvement
H8a
H8b
H8c
ndash
Figure 3Hypothesized model
for Study 2retirement
adjustment model(retirees)
395
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
work involvement and αfrac14 067 for relative deprivation Consequences were measuredas follows
Retirement satisfaction We used the satisfaction with life subscale of the retirementsatisfaction inventory (Floyd et al 1992) which included 11 items Many aspectsincluded are common to other life satisfaction scales (financial resources or interpersonalrelations) whereas other aspects are particularly relevant for future retirees such asaccess to social services or transportation Cronbachrsquos α reliability for the originalsubscale was αfrac14 081 Respondents used a response scale from 1 (totally unsatisfied)to 5 (totally satisfied)
Feelings of anxiety We used a measure of low psychological well-being developedad hoc for the study based on the model of measurement of well-being proposed byWarr (1990) This measure consisted of a single item ldquoIf you think about yourretirement how much anxiety do you feelrdquo The response scale ranged from 1 (verylittle anxiety) to 5 (quite a lot of anxiety)
Feelings of depression We used a measure of low psychological well-being developedad hoc based on Warr (1990) This measure consisted of a single item ldquoIf you thinkabout your retirement how much depression do you feelrdquo The response scale rangedfrom 1 (very little depression) to 5 (quite a lot of depression)
Overview of analysesSimilar procedures have been used to conduct the data analyses for this study applyingrecommendations to minimize the common method variance exploring correlationsamong the variables third testing hypotheses trough a SEM analysis and finallyconducting multivariate regression analyses which allow us introduce antecedents stepby step The SEM model in Study 2 included four latent exogenous variables and threelatent endogenous variables
ResultsThe results of preliminary exploratory factor analysis showed that a single factor onlyaccounted for 235 per cent of the variance (Podsakoff et al 2003) supporting that wecannot consider the common method variance to be a serious deficiency in this data setTable III show the means standard deviations and inter-correlations Psychosocialfactors showed a complex pattern of relationships Retirement self-efficacy wasnegatively related both to older worker identity and to relative deprivation but had anegligible relation with low work involvement Older worker identity had a positiverelationship both with low work involvement low job involvement and relativedeprivation as expected Consequences were significantly related showing an
expected pattern retirement satisfaction had a negative relationship both with feelingsof anxiety and of depression whereas feelings of anxiety and depression werepositively intercorrelated Contrary to our hypotheses relative deprivation showed anegative relationship with depression
Next we proceeded to test the SEM model Fit indicators of the original model wereinadequate χ2(6)frac14 5451 pfrac14 000 CMINdffrac14 908 GFIfrac14 089 RMSEAfrac14 026AICfrac14 9851 BCCfrac14 10165 ECVIfrac14 082 (CI 90frac14 066105) MECVIfrac14 085 so themodel was re-specified The correlations between retirement self-efficacy low workinvolvement older worker identity and relative deprivation were added obtaining aprogressively better fit Based on their CR statistically nonsignificant relations such asthose between low work involvement and anxiety were eliminated The re-specifiedmodel showed better fit χ2(3)frac14 148 pfrac14 069 CMINdffrac14 049 GFIfrac14 099RMSEAfrac14 000 AICfrac14 515 BCCfrac14 5506 Additional analyses have been carried out totest cross-validation ECVIfrac14 043 (CI 90frac14 044048) MECVIfrac14 046 showed lower valuesthan the proposed models Finally the respecified model and its standardized estimationscan be observed in Figure 4 The percentage of variance explained by the modelseems low for each retirement pathway because it ranges between 27 and 34 per cent
The retirement adjustment model showed thatH6a-H6cwere totally confirmed Relatedto low work involvement only H7awas confirmed because the relationships with anxietyand depression failed to confirm H7b and H7c due to their lack of statistical significanceLow job involvement showed significant relationships with feelings of anxiety and thesedata allow us to confirm H8b while both H8b and H8c have been rejected
Older worker identity had a positive relationship with retirement satisfaction butwithout statistical significance (H9a) whereas the relationships with feelings of anxietyand depression proved to be stronger and negative as hypothesized (H9b and H9c)Regarding relative deprivation H10a-H10c were totally confirmed Regardingmultivariate analyses Table IV shows the main results which showed that the socio-demographic variables failed to account for the variance of the retirement adjustmentoutcomes (see Table IV) Retirement self-efficacy was the main significant antecedent
018
Retirementself-efficacy
Feelings ofDepression
032
032
032
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
ndash016
046
ndash048
H6a
H6bH6c
016H10aH10b
H10c
ndash037
025
Older workeridentity
H8a
011 ns
H9bndash026
H9c ndash026
H9a
017
Low jobinvolvement
H8b ndash019
H7a021Low work
involvement
042
027
045
ndash014
ndash024
ndash045
ndash040
045
Notes n= 218 plt005 plt001
Figure 4Standardized
estimates for Study 2(retirement
adjustment model)
397
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Retirem
entsatisfaction
Feelings
ofanxiety
Feelings
ofdepression
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
005
019
017
016
009
minus003
minus007
minus004
006
minus006
minus007
minus002
Employed
time
000
001
000
000
005
004
008
008
009
009
010
011
Retired
time
003
minus008
minus005
minus004
minus025
minus015
minus011
minus012
minus009
minus000
minus002
minus004
Independ
entvariables
RSE
044
044
044
minus040
minus038
minus039
minus041
minus040
minus042
LWI
000
000
021
020
005
004
LJI
013
011
minus017
minus014
minus015
minus009
OWI
007
minus014
minus028
RD
minus006
011
020
F042
123
909
693
275
1225
96
800
100
1055
789
891
ΔF
042
478
215
071
275
3924
366
272
100
387
207
1016
R2
minus000
018
018
018
002
018
020
021
000
015
016
023
ΔR2
0007
019
002
000
003
015
003
002
001
016
002
007
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativedeprivation
po
005
po
001po
0001po
010
Table IVResults ofmultivariateregression analysesfor Study 2 (retirees)
398
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
(for retirement satisfaction anxiety and depression criteria) with low work involvementolder worker identity and relative deprivation for anxiety and depression feelings Lowjob involvement failed to reach statistical significance for the depression analysis
Brief discussion on Study 2Study 2 provided evidence for the proposed pattern of relationships between retirementself-efficacy low work involvement older worker identity and relative deprivation andretirement adjustment among retirees Despite the absence of a significant associationbetween low work involvement and feelings of anxiety and depression it was shown thatretirement well-being was significantly explained by the hypothesized antecedentsGenerally speaking our data confirmed the proposed pattern of relationships betweenpsychosocial factors on the one hand and retirement adjustment on the other handdespite the fact that some of the pathways did not reach sufficient statistical power
General discussionThis work had two goals pursued by two empirical studies with two samples workersover 60 years and retirees Study 1 was aimed to analyse the impact of psychosocialfactors on retirement intentions Study 2 was conducted to confirm the impact of thesame psychosocial factors on retirement adjustment In general we can state that bothgoals were achieved Specifically we contend that the availability of two different sets ofdata increases the generalizability of our findings On the basis of these data it wasshown that conceptualizing retirement as an adjustment process provides a morecomprehensive approach to understanding the phenomena As Wang and Shultz (2010)emphasized this conceptualization views retirement as incorporating both the pathwaysfrom employment to retirement and a post-retirement trajectory which includes efforts toachieve psychological well-being in retirement As Beehr and Bennett (2007) havementioned although much information on the decision to retire is available there is lessinformation particularly in terms of an underlying framework on what happens toindividuals after they retire (Taylor-Carter and Cook 1995) and especially years afterthey have retired In this sense our study contributes to bridge this gap
Retirement intentionsIn a more general sense in Study 1 we attempted to overcome a generalized criticism tothe life course perspective which seems to provide a general framework for analyzingtransitions and for the study of the heterogeneity in the retirement experience but offersfew concrete hypotheses as to how and why specific life course transitions impinge onwell-being (Szinovacz 2003 Van Solinge 2013) As expected our results showed thathigh retirement self-efficacy low work involvement and strong older worker identitytend to decrease intentions to keep on working and in turn they tend to increase fullretirement intentions At the same time relative deprivation shows the opposite patternwith high values increasing intentions to engage in bridge employment and lateretirement Specifically our results are in line with those of Henkens and Tazelaar (1997)and Van Solinge and Henkens (2007) which found that social embeddedness at workcontributes to worker evaluations about the attractiveness to keep on working
These results partially confirm the general tendency of previous findings ofZaniboni and colleagues (2010) notwithstanding that specific instruments and typeof sample and organization were different In this sense our results supported theexpectation that this pattern of intentions would be confirmed with different sectorssuch as private employees It has been suggested that people have mixed intentions
399
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
questionnaire and a return envelope In the cover letter participants were informed ofthe goal of the study and the anonymity of the data collected Participants wereinformed about the study objectives the variables included on it their rights regardingpersonal data protection and his explicit agreement to participate voluntarily in thestudy Then they completed a workbook containing the diverse scales of the studyCompleted questionnaires and informed consent were mailed back to the researchersdirectly using the pre-paid return envelope included in the survey set A reminderwas sent out to all participants to return the survey one month later In total200 questionnaire packages were distributed and 180 aged workers returned completedforms After excluding returned surveys that had missing data (25 per cent) the finalsample size of participants for analysis was 157
Descriptive analyses showed that mean age was 60 years (SDfrac14 43) The mean timeemployed was 369 years (SDfrac14 87) whereas the mean time in the same organizationwas 255 years (SDfrac14 109) In this sample the percentage of men was 551 per cent Jobtype distribution showed that the firms were aimed to education (28 per cent) health(26 per cent) services (16 per cent) manufacturing (15 per cent) others (15 per cent)
MeasuresSocio-demographic data Participants provided information about their age genderseniority in their organizations and employed time
Retirement self-efficacy We used 13 items of the Retirement Self-Efficacy Scale(Harper 2005) which provides a set of items that focus on confidence in performing awide variety of the subtasks of retirement health financial activities government andpension regulations and retirement itself Cronbachrsquos coefficient of αfrac14 097 has beenreported Response scales ranged from 1 (very little confidence) to 5 (quite a lot ofconfidence) Examples of items are ldquoCope with changes in retirementrdquo ldquoPlan leisuretimerdquo ldquoAdjust successfully to retirementrdquo ldquoMaintain any current skills or knowledge thatyou want to maintainrdquo or ldquoRemain active at homerdquo Reliability in this study was αfrac14 092
Older worker identity We used the self-descriptive component of the Older WorkerIdentity Scale (Tougas et al 2004) which includes ten items from the original scaleThe questionnaire required participants to appraise their motivation creativity andflexibility on a five-point scale ranging between 1 (totally disagree) and 5 (totally agree)The scale reached a reliability of αfrac14 080 among participants in this study Examplesof items are ldquoI amwas less effective in accomplishing my workrdquo ldquoI became lesscreative in accomplishing my workrdquo ldquoI amwas no longer motivated to accomplish mytasksrdquo and ldquoI became less adaptable and flexiblerdquo
Low work involvement The work involvement questionnaire (Kanungo 1982) wasused We included two items ldquoThe most important things that happen to me involvemy present workrdquo ldquoMost of my personal life goals are work-orientedrdquo Items werereversed to reflect low involvement Response scale ranged from 1 (totally disagree) to5 (totally agree) This scale reached αfrac14 085 in this study
Low job involvement The job involvement questionnaire (Kanungo 1982) was usedWe included two items ldquoMost of my interests are centred on my jobrdquo ldquoI consider my jobto be very central to my existencerdquo Items were reversed to reflect low involvementResponse scale ranged from 1 (totally disagree) to 5 (totally agree) This scale reachedαfrac14 083 in this study
Relative deprivation We used three items from the Personal Relative DeprivationScale (Tougas et al 1991) ldquoI have the impression that we were less appreciated that
390
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
younger workersrdquo (appreciation) ldquoWe have the impression that our work wasevaluated less well than that of those younger than usrdquo (evaluation) ldquoWe think that wehad less opportunity for promotion that those younger than usrdquo (promotion) Thescale reached a reliability of αfrac14 065 among the participants in this study
Retirement intentions Participants were asked to agree or disagree with fourstatements that reflect different pathways for retirement following the procedure ofprevious studies (Zaniboni et al 2010) full retirement (ldquoI will retire as soon aspossiblerdquo) part-time retirement (ldquoEven when I could already retire I would keep onworking but reducing my actual work timerdquo) late retirement (ldquoEven when I can retireI will keep on workingrdquo) bridge employment (ldquoEven when I can retire I will keep onworking but changing job typerdquo)
Overview of analysesFirst as self-report questionnaires were used to collect the data at the same time fromthe same participants common method variance may be a concern In order to testwhether variance in the data can be largely attributed to a single factor we used thepost hoc Harman one-factor analysis (Podsakoff et al 2003) Second descriptiveanalyses were studied in addition to the inter-correlations of all the variables Third inorder to test our hypothesis we performed structural equation modelling (SEM) usingthe maximum likelihood procedure and the original data as input with AMOS 200 TheSEM model included four latent exogenous variables and four latent endogenousvariables Finally in order to show the potentially differential impacts of the personalretirement-related and contextual variables we run several multivariate regressionanalyses as an anonymous reviewer suggested
To test the fit of the models several indexes are recommended such as χ2 and its levelof probability the goodness of fit index (GFI) and the root mean square error ofapproximation (RMSEA) Comparative indexes have been used such as the Akaikeinformation criterion (AIC) and the Browne-Cudek criterion (BCC) with simpler modelsachieving low values because both indexes penalize complex models with a poor fit to thedata Three more indexes are also used to compare models the Expected Cross-ValidationIndex (ECVI similar to the AIC and the BCC) In both of them the simpler models withbetter fit achieve low values whereas the more complex models with poorer fit reach highscores because both indexes penalize complex models with a poor fit to the data
ResultsIn order to apply the post hoc Harman one-factor analysis (Podsakoff et al 2003) weexamined the results of preliminary exploratory factor analysis which showed that asingle factor only accounted for 24 per cent of the variance Hence a single factorcannot account for the variance in the data and we cannot consider the commonmethod variance to be a serious deficiency in this data set
Table I show the means standard deviations and inter-correlations of the variablesCorrelation matrix analysis provided preliminary support for the hypotheses In thisstudy psychosocial factors were intercorrelated Retirement self-efficacy hadsignificant and negative relations both with older worker identity low workinvolvement low job involvement and relative deprivation At the same time olderworker identity was positively and significantly correlated with relative deprivationConcerning consequences all the variables were highly correlated The relationshipbetween full retirement and the other pathways from work were negative
391
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
In the next step we proceeded to test our SEM models Regarding the retirementintentions model the fit indicators of the original model were inadequateχ2(12)frac14 1723 pfrac14 000 CMINdffrac14 144 GFIfrac14 075 RMSEAfrac14 029 AICfrac14 2203BCCfrac14 2937 ECVIfrac14 147 (CI 90frac14 121178) MECVIfrac14 149 so the model was re-specified The correlations between retirement self-efficacy older worker identity andrelative deprivation were added obtaining a progressively better fit Based on theircritical ratios (CR) statistically nonsignificant relations such as those betweenretirement self-efficacy and bridge employment among others were eliminatedDespite this decision the relationship between relative deprivation and full retirementwas retained due its theoretical meaning The re-specified model showed better fitχ2(7)frac14 374 pfrac14 081 CMINdffrac14 054 GFIfrac14 099 RMSEAfrac14 000 AICfrac14 6175BCCfrac14 6529 Additional analyses have been carried out to test cross-validationECVIfrac14 042 (CI 90frac14 044048) MECVIfrac14 045 showed lower values than the proposedmodels Standardized estimations for the re-specified model can be observed inFigure 2 The percentage of variance explained by the model seems low for eachretirement pathway because it ranges between 07 and 25 per cent
The examination of the standardized estimates in the final model allows us to state thatour hypotheses have been partially confirmed Related to retirement self-efficacy ourresults showed that it was positively related to full retirement and negatively related topartial and late retirement confirming H1b-H1d The relationship between retirementself-efficacy and bridge employment showed the expected direction (H1a) but failed toreach statistical significance
Related to low work involvement only H2a and H2c were supported Directpathways from low work involvement to full retirement and to partial did not showstatistical relevance (H2b and H2d) Low job involvement showed the hypthesizednegative relationship with partial retirement confirming H3b while the othershypotheses have been rejected (H3a-H3d)
Regarding older worker identity our results confirmed the hypothesizedrelationships positive relationship with full retirement (H4d) and negative relationshipwith late retirement (H4c) whereas data failed to confirm our hypotheses for bridgeemployment (H4a) and partial retirement (H4b) due to lack of statistical significanceFinally regarding relative deprivation only H5a-H5d were confirmed by data whereasH4b failed to reach statistical confirmation
Regarding multivariate analyses Table II shows the main results which showedthat the socio-demographic variables failed to account for the variance of the retirementintention outcomes (see Table II) Retirement self-efficacy was the main significantantecedent (for partial late and full-retirement criteria) with older worker identity andrelative deprivation for full retirement Low work involvement and low job involvementfailed to reach statistical significance
Brief discussion on Study 1Study 1 successfully confirmed the proposed hypotheses First retirement self-efficacyand older worker identity showed powerful positive influences on full retirementintention Second late retirement has been negatively influenced by all the psychosocialfactors Finally partial retirement and bridge employment showed a more complexpattern of relationships according to the percentage of variance accounted for the modelA general discussion in deep will be offered later comprising Studies 1 and 2
Study 2The second study investigated the influences of retirement self-efficacy low workinvolvement older worker identity and relative deprivation on retirement adjustmentBased on the literature reviewed we propose the following hypotheses (see Figure 3)
H6 Regarding person-related variables (a) high retirement self-efficacy will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H7 Regarding retirement-related variables (a) low work involvement will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H8 (a) Low job involvement will be positively related to retirement satisfaction(b) negatively related to feelings of anxiety and (c) of depression
H9 Regarding contextual variables (a) strong older worker identity will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
393
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Bridg
eem
ployment
Partialretirem
ent
Late
retirem
ent
Fullretirem
ent
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
002
002
minus000
minus001
minus013
minus014
minus016
minus016
minus002
minus003
minus006
minus007
004
006
008
010
Employed
time
002
minus000
minus000
001
010
002
001
001
002
minus006
minus006
minus003
minus002
012
011
008
Jobseniority
minus009
minus007
minus006
minus007
minus011
minus005
minus003
minus001
003
008
010
011
013
003
002
001
Independ
entvariables
RSE
minus006
minus002
minus005
minus025
minus021
minus022
minus023
minus019
minus024
044
043
049
LWI
minus011
minus007
minus004
minus004
minus014
minus007
011
004
LJI
minus010
minus013
minus020
minus019
minus012
minus015
004
001
OWI
minus005
minus009
minus021
027
RD
minus019
007
minus014
014
F034
038
114
165
102
297
33
262
008
181
251
374
08
816
565
748
ΔF
034
049
264
309
102
864
372
064
008
69
37
68
080
297
068
106
R2
minus001
minus002
000
004
000
005
009
008
minus002
002
010
018
minus000
017
016
027
ΔR2
0007
0003
004
004
002
005
004
000
000
005
005
008
002
017
000
011
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativ
edeprivation
po
005po
001
p
o0001po
010
Table IIResults ofmultivariateregression analysesfor Study 1 (agedworkers)
394
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
H10 (a) High relative deprivation will be negatively related to retirementsatisfaction (b) positively related to feelings of anxiety and (c) of depression
MethodParticipants and procedureThe Study 2 was conducted with retirees (nfrac14 218) and included participants whohad retired at least two years ago Retirees had previously worked in the sameorganizations that the employees of the first sample They were identified bythe research team through personnel archives of these organizations and then thecollaborators of the research team contacted to the potential participants by e-mailexplained to them the purpose of our study and invited them to participate voluntarilyin exchange of a lottery reward Survey packages sets ndash cover letter informed consentquestionnaire and the return envelope ndash were sent to those who agreed to participateCompleted questionnaires and informed consent were mailed back to the researchersusing the pre-paid return envelope A reminder was sent out to all participants to returnthe survey one month later In total 300 questionnaire packages were distributed and235 retirees returned completed forms After excluding those with several missing data(18 per cent) the final sample size included 218 retirees
These participants had a mean age of 68 years (SDfrac14 72) and the mean timeemployed was 382 years (SDfrac14 109) whereas the mean retired time was 65 years(SDfrac14 58) In this study the percentage of men was 706 per cent Job type distributionshowed that the firms were aimed to education (32 per cent) health (30 per cent) services(12 per cent) manufacturing (18 per cent) and others (8 per cent)
MeasuresAntecedent variables for this study were similar to Study 1 Socio-demographic dataretirement self-efficacy older worker identity low work involvement and relativedeprivation were measured as per Study 1 Reliabilities values in this study wereαfrac14 089 for retirement self-efficacy αfrac14 077 for older worker identity αfrac14 079 for low
+
ndash
ndash
+
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
Feelings ofDepression
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
H6a
H6bH6c
H10aH10b
H10c
Older workeridentity
H7a
H9b
H9c
H9a
Low workinvolvement
H7b
H7c
+
ndash
ndash
+
ndash
ndash
+
ndash
ndash
ndash
Low jobinvolvement
H8a
H8b
H8c
ndash
Figure 3Hypothesized model
for Study 2retirement
adjustment model(retirees)
395
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
work involvement and αfrac14 067 for relative deprivation Consequences were measuredas follows
Retirement satisfaction We used the satisfaction with life subscale of the retirementsatisfaction inventory (Floyd et al 1992) which included 11 items Many aspectsincluded are common to other life satisfaction scales (financial resources or interpersonalrelations) whereas other aspects are particularly relevant for future retirees such asaccess to social services or transportation Cronbachrsquos α reliability for the originalsubscale was αfrac14 081 Respondents used a response scale from 1 (totally unsatisfied)to 5 (totally satisfied)
Feelings of anxiety We used a measure of low psychological well-being developedad hoc for the study based on the model of measurement of well-being proposed byWarr (1990) This measure consisted of a single item ldquoIf you think about yourretirement how much anxiety do you feelrdquo The response scale ranged from 1 (verylittle anxiety) to 5 (quite a lot of anxiety)
Feelings of depression We used a measure of low psychological well-being developedad hoc based on Warr (1990) This measure consisted of a single item ldquoIf you thinkabout your retirement how much depression do you feelrdquo The response scale rangedfrom 1 (very little depression) to 5 (quite a lot of depression)
Overview of analysesSimilar procedures have been used to conduct the data analyses for this study applyingrecommendations to minimize the common method variance exploring correlationsamong the variables third testing hypotheses trough a SEM analysis and finallyconducting multivariate regression analyses which allow us introduce antecedents stepby step The SEM model in Study 2 included four latent exogenous variables and threelatent endogenous variables
ResultsThe results of preliminary exploratory factor analysis showed that a single factor onlyaccounted for 235 per cent of the variance (Podsakoff et al 2003) supporting that wecannot consider the common method variance to be a serious deficiency in this data setTable III show the means standard deviations and inter-correlations Psychosocialfactors showed a complex pattern of relationships Retirement self-efficacy wasnegatively related both to older worker identity and to relative deprivation but had anegligible relation with low work involvement Older worker identity had a positiverelationship both with low work involvement low job involvement and relativedeprivation as expected Consequences were significantly related showing an
expected pattern retirement satisfaction had a negative relationship both with feelingsof anxiety and of depression whereas feelings of anxiety and depression werepositively intercorrelated Contrary to our hypotheses relative deprivation showed anegative relationship with depression
Next we proceeded to test the SEM model Fit indicators of the original model wereinadequate χ2(6)frac14 5451 pfrac14 000 CMINdffrac14 908 GFIfrac14 089 RMSEAfrac14 026AICfrac14 9851 BCCfrac14 10165 ECVIfrac14 082 (CI 90frac14 066105) MECVIfrac14 085 so themodel was re-specified The correlations between retirement self-efficacy low workinvolvement older worker identity and relative deprivation were added obtaining aprogressively better fit Based on their CR statistically nonsignificant relations such asthose between low work involvement and anxiety were eliminated The re-specifiedmodel showed better fit χ2(3)frac14 148 pfrac14 069 CMINdffrac14 049 GFIfrac14 099RMSEAfrac14 000 AICfrac14 515 BCCfrac14 5506 Additional analyses have been carried out totest cross-validation ECVIfrac14 043 (CI 90frac14 044048) MECVIfrac14 046 showed lower valuesthan the proposed models Finally the respecified model and its standardized estimationscan be observed in Figure 4 The percentage of variance explained by the modelseems low for each retirement pathway because it ranges between 27 and 34 per cent
The retirement adjustment model showed thatH6a-H6cwere totally confirmed Relatedto low work involvement only H7awas confirmed because the relationships with anxietyand depression failed to confirm H7b and H7c due to their lack of statistical significanceLow job involvement showed significant relationships with feelings of anxiety and thesedata allow us to confirm H8b while both H8b and H8c have been rejected
Older worker identity had a positive relationship with retirement satisfaction butwithout statistical significance (H9a) whereas the relationships with feelings of anxietyand depression proved to be stronger and negative as hypothesized (H9b and H9c)Regarding relative deprivation H10a-H10c were totally confirmed Regardingmultivariate analyses Table IV shows the main results which showed that the socio-demographic variables failed to account for the variance of the retirement adjustmentoutcomes (see Table IV) Retirement self-efficacy was the main significant antecedent
018
Retirementself-efficacy
Feelings ofDepression
032
032
032
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
ndash016
046
ndash048
H6a
H6bH6c
016H10aH10b
H10c
ndash037
025
Older workeridentity
H8a
011 ns
H9bndash026
H9c ndash026
H9a
017
Low jobinvolvement
H8b ndash019
H7a021Low work
involvement
042
027
045
ndash014
ndash024
ndash045
ndash040
045
Notes n= 218 plt005 plt001
Figure 4Standardized
estimates for Study 2(retirement
adjustment model)
397
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Retirem
entsatisfaction
Feelings
ofanxiety
Feelings
ofdepression
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
005
019
017
016
009
minus003
minus007
minus004
006
minus006
minus007
minus002
Employed
time
000
001
000
000
005
004
008
008
009
009
010
011
Retired
time
003
minus008
minus005
minus004
minus025
minus015
minus011
minus012
minus009
minus000
minus002
minus004
Independ
entvariables
RSE
044
044
044
minus040
minus038
minus039
minus041
minus040
minus042
LWI
000
000
021
020
005
004
LJI
013
011
minus017
minus014
minus015
minus009
OWI
007
minus014
minus028
RD
minus006
011
020
F042
123
909
693
275
1225
96
800
100
1055
789
891
ΔF
042
478
215
071
275
3924
366
272
100
387
207
1016
R2
minus000
018
018
018
002
018
020
021
000
015
016
023
ΔR2
0007
019
002
000
003
015
003
002
001
016
002
007
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativedeprivation
po
005
po
001po
0001po
010
Table IVResults ofmultivariateregression analysesfor Study 2 (retirees)
398
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
(for retirement satisfaction anxiety and depression criteria) with low work involvementolder worker identity and relative deprivation for anxiety and depression feelings Lowjob involvement failed to reach statistical significance for the depression analysis
Brief discussion on Study 2Study 2 provided evidence for the proposed pattern of relationships between retirementself-efficacy low work involvement older worker identity and relative deprivation andretirement adjustment among retirees Despite the absence of a significant associationbetween low work involvement and feelings of anxiety and depression it was shown thatretirement well-being was significantly explained by the hypothesized antecedentsGenerally speaking our data confirmed the proposed pattern of relationships betweenpsychosocial factors on the one hand and retirement adjustment on the other handdespite the fact that some of the pathways did not reach sufficient statistical power
General discussionThis work had two goals pursued by two empirical studies with two samples workersover 60 years and retirees Study 1 was aimed to analyse the impact of psychosocialfactors on retirement intentions Study 2 was conducted to confirm the impact of thesame psychosocial factors on retirement adjustment In general we can state that bothgoals were achieved Specifically we contend that the availability of two different sets ofdata increases the generalizability of our findings On the basis of these data it wasshown that conceptualizing retirement as an adjustment process provides a morecomprehensive approach to understanding the phenomena As Wang and Shultz (2010)emphasized this conceptualization views retirement as incorporating both the pathwaysfrom employment to retirement and a post-retirement trajectory which includes efforts toachieve psychological well-being in retirement As Beehr and Bennett (2007) havementioned although much information on the decision to retire is available there is lessinformation particularly in terms of an underlying framework on what happens toindividuals after they retire (Taylor-Carter and Cook 1995) and especially years afterthey have retired In this sense our study contributes to bridge this gap
Retirement intentionsIn a more general sense in Study 1 we attempted to overcome a generalized criticism tothe life course perspective which seems to provide a general framework for analyzingtransitions and for the study of the heterogeneity in the retirement experience but offersfew concrete hypotheses as to how and why specific life course transitions impinge onwell-being (Szinovacz 2003 Van Solinge 2013) As expected our results showed thathigh retirement self-efficacy low work involvement and strong older worker identitytend to decrease intentions to keep on working and in turn they tend to increase fullretirement intentions At the same time relative deprivation shows the opposite patternwith high values increasing intentions to engage in bridge employment and lateretirement Specifically our results are in line with those of Henkens and Tazelaar (1997)and Van Solinge and Henkens (2007) which found that social embeddedness at workcontributes to worker evaluations about the attractiveness to keep on working
These results partially confirm the general tendency of previous findings ofZaniboni and colleagues (2010) notwithstanding that specific instruments and typeof sample and organization were different In this sense our results supported theexpectation that this pattern of intentions would be confirmed with different sectorssuch as private employees It has been suggested that people have mixed intentions
399
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
younger workersrdquo (appreciation) ldquoWe have the impression that our work wasevaluated less well than that of those younger than usrdquo (evaluation) ldquoWe think that wehad less opportunity for promotion that those younger than usrdquo (promotion) Thescale reached a reliability of αfrac14 065 among the participants in this study
Retirement intentions Participants were asked to agree or disagree with fourstatements that reflect different pathways for retirement following the procedure ofprevious studies (Zaniboni et al 2010) full retirement (ldquoI will retire as soon aspossiblerdquo) part-time retirement (ldquoEven when I could already retire I would keep onworking but reducing my actual work timerdquo) late retirement (ldquoEven when I can retireI will keep on workingrdquo) bridge employment (ldquoEven when I can retire I will keep onworking but changing job typerdquo)
Overview of analysesFirst as self-report questionnaires were used to collect the data at the same time fromthe same participants common method variance may be a concern In order to testwhether variance in the data can be largely attributed to a single factor we used thepost hoc Harman one-factor analysis (Podsakoff et al 2003) Second descriptiveanalyses were studied in addition to the inter-correlations of all the variables Third inorder to test our hypothesis we performed structural equation modelling (SEM) usingthe maximum likelihood procedure and the original data as input with AMOS 200 TheSEM model included four latent exogenous variables and four latent endogenousvariables Finally in order to show the potentially differential impacts of the personalretirement-related and contextual variables we run several multivariate regressionanalyses as an anonymous reviewer suggested
To test the fit of the models several indexes are recommended such as χ2 and its levelof probability the goodness of fit index (GFI) and the root mean square error ofapproximation (RMSEA) Comparative indexes have been used such as the Akaikeinformation criterion (AIC) and the Browne-Cudek criterion (BCC) with simpler modelsachieving low values because both indexes penalize complex models with a poor fit to thedata Three more indexes are also used to compare models the Expected Cross-ValidationIndex (ECVI similar to the AIC and the BCC) In both of them the simpler models withbetter fit achieve low values whereas the more complex models with poorer fit reach highscores because both indexes penalize complex models with a poor fit to the data
ResultsIn order to apply the post hoc Harman one-factor analysis (Podsakoff et al 2003) weexamined the results of preliminary exploratory factor analysis which showed that asingle factor only accounted for 24 per cent of the variance Hence a single factorcannot account for the variance in the data and we cannot consider the commonmethod variance to be a serious deficiency in this data set
Table I show the means standard deviations and inter-correlations of the variablesCorrelation matrix analysis provided preliminary support for the hypotheses In thisstudy psychosocial factors were intercorrelated Retirement self-efficacy hadsignificant and negative relations both with older worker identity low workinvolvement low job involvement and relative deprivation At the same time olderworker identity was positively and significantly correlated with relative deprivationConcerning consequences all the variables were highly correlated The relationshipbetween full retirement and the other pathways from work were negative
391
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
In the next step we proceeded to test our SEM models Regarding the retirementintentions model the fit indicators of the original model were inadequateχ2(12)frac14 1723 pfrac14 000 CMINdffrac14 144 GFIfrac14 075 RMSEAfrac14 029 AICfrac14 2203BCCfrac14 2937 ECVIfrac14 147 (CI 90frac14 121178) MECVIfrac14 149 so the model was re-specified The correlations between retirement self-efficacy older worker identity andrelative deprivation were added obtaining a progressively better fit Based on theircritical ratios (CR) statistically nonsignificant relations such as those betweenretirement self-efficacy and bridge employment among others were eliminatedDespite this decision the relationship between relative deprivation and full retirementwas retained due its theoretical meaning The re-specified model showed better fitχ2(7)frac14 374 pfrac14 081 CMINdffrac14 054 GFIfrac14 099 RMSEAfrac14 000 AICfrac14 6175BCCfrac14 6529 Additional analyses have been carried out to test cross-validationECVIfrac14 042 (CI 90frac14 044048) MECVIfrac14 045 showed lower values than the proposedmodels Standardized estimations for the re-specified model can be observed inFigure 2 The percentage of variance explained by the model seems low for eachretirement pathway because it ranges between 07 and 25 per cent
The examination of the standardized estimates in the final model allows us to state thatour hypotheses have been partially confirmed Related to retirement self-efficacy ourresults showed that it was positively related to full retirement and negatively related topartial and late retirement confirming H1b-H1d The relationship between retirementself-efficacy and bridge employment showed the expected direction (H1a) but failed toreach statistical significance
Related to low work involvement only H2a and H2c were supported Directpathways from low work involvement to full retirement and to partial did not showstatistical relevance (H2b and H2d) Low job involvement showed the hypthesizednegative relationship with partial retirement confirming H3b while the othershypotheses have been rejected (H3a-H3d)
Regarding older worker identity our results confirmed the hypothesizedrelationships positive relationship with full retirement (H4d) and negative relationshipwith late retirement (H4c) whereas data failed to confirm our hypotheses for bridgeemployment (H4a) and partial retirement (H4b) due to lack of statistical significanceFinally regarding relative deprivation only H5a-H5d were confirmed by data whereasH4b failed to reach statistical confirmation
Regarding multivariate analyses Table II shows the main results which showedthat the socio-demographic variables failed to account for the variance of the retirementintention outcomes (see Table II) Retirement self-efficacy was the main significantantecedent (for partial late and full-retirement criteria) with older worker identity andrelative deprivation for full retirement Low work involvement and low job involvementfailed to reach statistical significance
Brief discussion on Study 1Study 1 successfully confirmed the proposed hypotheses First retirement self-efficacyand older worker identity showed powerful positive influences on full retirementintention Second late retirement has been negatively influenced by all the psychosocialfactors Finally partial retirement and bridge employment showed a more complexpattern of relationships according to the percentage of variance accounted for the modelA general discussion in deep will be offered later comprising Studies 1 and 2
Study 2The second study investigated the influences of retirement self-efficacy low workinvolvement older worker identity and relative deprivation on retirement adjustmentBased on the literature reviewed we propose the following hypotheses (see Figure 3)
H6 Regarding person-related variables (a) high retirement self-efficacy will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H7 Regarding retirement-related variables (a) low work involvement will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H8 (a) Low job involvement will be positively related to retirement satisfaction(b) negatively related to feelings of anxiety and (c) of depression
H9 Regarding contextual variables (a) strong older worker identity will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
393
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Bridg
eem
ployment
Partialretirem
ent
Late
retirem
ent
Fullretirem
ent
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
002
002
minus000
minus001
minus013
minus014
minus016
minus016
minus002
minus003
minus006
minus007
004
006
008
010
Employed
time
002
minus000
minus000
001
010
002
001
001
002
minus006
minus006
minus003
minus002
012
011
008
Jobseniority
minus009
minus007
minus006
minus007
minus011
minus005
minus003
minus001
003
008
010
011
013
003
002
001
Independ
entvariables
RSE
minus006
minus002
minus005
minus025
minus021
minus022
minus023
minus019
minus024
044
043
049
LWI
minus011
minus007
minus004
minus004
minus014
minus007
011
004
LJI
minus010
minus013
minus020
minus019
minus012
minus015
004
001
OWI
minus005
minus009
minus021
027
RD
minus019
007
minus014
014
F034
038
114
165
102
297
33
262
008
181
251
374
08
816
565
748
ΔF
034
049
264
309
102
864
372
064
008
69
37
68
080
297
068
106
R2
minus001
minus002
000
004
000
005
009
008
minus002
002
010
018
minus000
017
016
027
ΔR2
0007
0003
004
004
002
005
004
000
000
005
005
008
002
017
000
011
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativ
edeprivation
po
005po
001
p
o0001po
010
Table IIResults ofmultivariateregression analysesfor Study 1 (agedworkers)
394
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
H10 (a) High relative deprivation will be negatively related to retirementsatisfaction (b) positively related to feelings of anxiety and (c) of depression
MethodParticipants and procedureThe Study 2 was conducted with retirees (nfrac14 218) and included participants whohad retired at least two years ago Retirees had previously worked in the sameorganizations that the employees of the first sample They were identified bythe research team through personnel archives of these organizations and then thecollaborators of the research team contacted to the potential participants by e-mailexplained to them the purpose of our study and invited them to participate voluntarilyin exchange of a lottery reward Survey packages sets ndash cover letter informed consentquestionnaire and the return envelope ndash were sent to those who agreed to participateCompleted questionnaires and informed consent were mailed back to the researchersusing the pre-paid return envelope A reminder was sent out to all participants to returnthe survey one month later In total 300 questionnaire packages were distributed and235 retirees returned completed forms After excluding those with several missing data(18 per cent) the final sample size included 218 retirees
These participants had a mean age of 68 years (SDfrac14 72) and the mean timeemployed was 382 years (SDfrac14 109) whereas the mean retired time was 65 years(SDfrac14 58) In this study the percentage of men was 706 per cent Job type distributionshowed that the firms were aimed to education (32 per cent) health (30 per cent) services(12 per cent) manufacturing (18 per cent) and others (8 per cent)
MeasuresAntecedent variables for this study were similar to Study 1 Socio-demographic dataretirement self-efficacy older worker identity low work involvement and relativedeprivation were measured as per Study 1 Reliabilities values in this study wereαfrac14 089 for retirement self-efficacy αfrac14 077 for older worker identity αfrac14 079 for low
+
ndash
ndash
+
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
Feelings ofDepression
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
H6a
H6bH6c
H10aH10b
H10c
Older workeridentity
H7a
H9b
H9c
H9a
Low workinvolvement
H7b
H7c
+
ndash
ndash
+
ndash
ndash
+
ndash
ndash
ndash
Low jobinvolvement
H8a
H8b
H8c
ndash
Figure 3Hypothesized model
for Study 2retirement
adjustment model(retirees)
395
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
work involvement and αfrac14 067 for relative deprivation Consequences were measuredas follows
Retirement satisfaction We used the satisfaction with life subscale of the retirementsatisfaction inventory (Floyd et al 1992) which included 11 items Many aspectsincluded are common to other life satisfaction scales (financial resources or interpersonalrelations) whereas other aspects are particularly relevant for future retirees such asaccess to social services or transportation Cronbachrsquos α reliability for the originalsubscale was αfrac14 081 Respondents used a response scale from 1 (totally unsatisfied)to 5 (totally satisfied)
Feelings of anxiety We used a measure of low psychological well-being developedad hoc for the study based on the model of measurement of well-being proposed byWarr (1990) This measure consisted of a single item ldquoIf you think about yourretirement how much anxiety do you feelrdquo The response scale ranged from 1 (verylittle anxiety) to 5 (quite a lot of anxiety)
Feelings of depression We used a measure of low psychological well-being developedad hoc based on Warr (1990) This measure consisted of a single item ldquoIf you thinkabout your retirement how much depression do you feelrdquo The response scale rangedfrom 1 (very little depression) to 5 (quite a lot of depression)
Overview of analysesSimilar procedures have been used to conduct the data analyses for this study applyingrecommendations to minimize the common method variance exploring correlationsamong the variables third testing hypotheses trough a SEM analysis and finallyconducting multivariate regression analyses which allow us introduce antecedents stepby step The SEM model in Study 2 included four latent exogenous variables and threelatent endogenous variables
ResultsThe results of preliminary exploratory factor analysis showed that a single factor onlyaccounted for 235 per cent of the variance (Podsakoff et al 2003) supporting that wecannot consider the common method variance to be a serious deficiency in this data setTable III show the means standard deviations and inter-correlations Psychosocialfactors showed a complex pattern of relationships Retirement self-efficacy wasnegatively related both to older worker identity and to relative deprivation but had anegligible relation with low work involvement Older worker identity had a positiverelationship both with low work involvement low job involvement and relativedeprivation as expected Consequences were significantly related showing an
expected pattern retirement satisfaction had a negative relationship both with feelingsof anxiety and of depression whereas feelings of anxiety and depression werepositively intercorrelated Contrary to our hypotheses relative deprivation showed anegative relationship with depression
Next we proceeded to test the SEM model Fit indicators of the original model wereinadequate χ2(6)frac14 5451 pfrac14 000 CMINdffrac14 908 GFIfrac14 089 RMSEAfrac14 026AICfrac14 9851 BCCfrac14 10165 ECVIfrac14 082 (CI 90frac14 066105) MECVIfrac14 085 so themodel was re-specified The correlations between retirement self-efficacy low workinvolvement older worker identity and relative deprivation were added obtaining aprogressively better fit Based on their CR statistically nonsignificant relations such asthose between low work involvement and anxiety were eliminated The re-specifiedmodel showed better fit χ2(3)frac14 148 pfrac14 069 CMINdffrac14 049 GFIfrac14 099RMSEAfrac14 000 AICfrac14 515 BCCfrac14 5506 Additional analyses have been carried out totest cross-validation ECVIfrac14 043 (CI 90frac14 044048) MECVIfrac14 046 showed lower valuesthan the proposed models Finally the respecified model and its standardized estimationscan be observed in Figure 4 The percentage of variance explained by the modelseems low for each retirement pathway because it ranges between 27 and 34 per cent
The retirement adjustment model showed thatH6a-H6cwere totally confirmed Relatedto low work involvement only H7awas confirmed because the relationships with anxietyand depression failed to confirm H7b and H7c due to their lack of statistical significanceLow job involvement showed significant relationships with feelings of anxiety and thesedata allow us to confirm H8b while both H8b and H8c have been rejected
Older worker identity had a positive relationship with retirement satisfaction butwithout statistical significance (H9a) whereas the relationships with feelings of anxietyand depression proved to be stronger and negative as hypothesized (H9b and H9c)Regarding relative deprivation H10a-H10c were totally confirmed Regardingmultivariate analyses Table IV shows the main results which showed that the socio-demographic variables failed to account for the variance of the retirement adjustmentoutcomes (see Table IV) Retirement self-efficacy was the main significant antecedent
018
Retirementself-efficacy
Feelings ofDepression
032
032
032
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
ndash016
046
ndash048
H6a
H6bH6c
016H10aH10b
H10c
ndash037
025
Older workeridentity
H8a
011 ns
H9bndash026
H9c ndash026
H9a
017
Low jobinvolvement
H8b ndash019
H7a021Low work
involvement
042
027
045
ndash014
ndash024
ndash045
ndash040
045
Notes n= 218 plt005 plt001
Figure 4Standardized
estimates for Study 2(retirement
adjustment model)
397
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Retirem
entsatisfaction
Feelings
ofanxiety
Feelings
ofdepression
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
005
019
017
016
009
minus003
minus007
minus004
006
minus006
minus007
minus002
Employed
time
000
001
000
000
005
004
008
008
009
009
010
011
Retired
time
003
minus008
minus005
minus004
minus025
minus015
minus011
minus012
minus009
minus000
minus002
minus004
Independ
entvariables
RSE
044
044
044
minus040
minus038
minus039
minus041
minus040
minus042
LWI
000
000
021
020
005
004
LJI
013
011
minus017
minus014
minus015
minus009
OWI
007
minus014
minus028
RD
minus006
011
020
F042
123
909
693
275
1225
96
800
100
1055
789
891
ΔF
042
478
215
071
275
3924
366
272
100
387
207
1016
R2
minus000
018
018
018
002
018
020
021
000
015
016
023
ΔR2
0007
019
002
000
003
015
003
002
001
016
002
007
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativedeprivation
po
005
po
001po
0001po
010
Table IVResults ofmultivariateregression analysesfor Study 2 (retirees)
398
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
(for retirement satisfaction anxiety and depression criteria) with low work involvementolder worker identity and relative deprivation for anxiety and depression feelings Lowjob involvement failed to reach statistical significance for the depression analysis
Brief discussion on Study 2Study 2 provided evidence for the proposed pattern of relationships between retirementself-efficacy low work involvement older worker identity and relative deprivation andretirement adjustment among retirees Despite the absence of a significant associationbetween low work involvement and feelings of anxiety and depression it was shown thatretirement well-being was significantly explained by the hypothesized antecedentsGenerally speaking our data confirmed the proposed pattern of relationships betweenpsychosocial factors on the one hand and retirement adjustment on the other handdespite the fact that some of the pathways did not reach sufficient statistical power
General discussionThis work had two goals pursued by two empirical studies with two samples workersover 60 years and retirees Study 1 was aimed to analyse the impact of psychosocialfactors on retirement intentions Study 2 was conducted to confirm the impact of thesame psychosocial factors on retirement adjustment In general we can state that bothgoals were achieved Specifically we contend that the availability of two different sets ofdata increases the generalizability of our findings On the basis of these data it wasshown that conceptualizing retirement as an adjustment process provides a morecomprehensive approach to understanding the phenomena As Wang and Shultz (2010)emphasized this conceptualization views retirement as incorporating both the pathwaysfrom employment to retirement and a post-retirement trajectory which includes efforts toachieve psychological well-being in retirement As Beehr and Bennett (2007) havementioned although much information on the decision to retire is available there is lessinformation particularly in terms of an underlying framework on what happens toindividuals after they retire (Taylor-Carter and Cook 1995) and especially years afterthey have retired In this sense our study contributes to bridge this gap
Retirement intentionsIn a more general sense in Study 1 we attempted to overcome a generalized criticism tothe life course perspective which seems to provide a general framework for analyzingtransitions and for the study of the heterogeneity in the retirement experience but offersfew concrete hypotheses as to how and why specific life course transitions impinge onwell-being (Szinovacz 2003 Van Solinge 2013) As expected our results showed thathigh retirement self-efficacy low work involvement and strong older worker identitytend to decrease intentions to keep on working and in turn they tend to increase fullretirement intentions At the same time relative deprivation shows the opposite patternwith high values increasing intentions to engage in bridge employment and lateretirement Specifically our results are in line with those of Henkens and Tazelaar (1997)and Van Solinge and Henkens (2007) which found that social embeddedness at workcontributes to worker evaluations about the attractiveness to keep on working
These results partially confirm the general tendency of previous findings ofZaniboni and colleagues (2010) notwithstanding that specific instruments and typeof sample and organization were different In this sense our results supported theexpectation that this pattern of intentions would be confirmed with different sectorssuch as private employees It has been suggested that people have mixed intentions
399
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
In the next step we proceeded to test our SEM models Regarding the retirementintentions model the fit indicators of the original model were inadequateχ2(12)frac14 1723 pfrac14 000 CMINdffrac14 144 GFIfrac14 075 RMSEAfrac14 029 AICfrac14 2203BCCfrac14 2937 ECVIfrac14 147 (CI 90frac14 121178) MECVIfrac14 149 so the model was re-specified The correlations between retirement self-efficacy older worker identity andrelative deprivation were added obtaining a progressively better fit Based on theircritical ratios (CR) statistically nonsignificant relations such as those betweenretirement self-efficacy and bridge employment among others were eliminatedDespite this decision the relationship between relative deprivation and full retirementwas retained due its theoretical meaning The re-specified model showed better fitχ2(7)frac14 374 pfrac14 081 CMINdffrac14 054 GFIfrac14 099 RMSEAfrac14 000 AICfrac14 6175BCCfrac14 6529 Additional analyses have been carried out to test cross-validationECVIfrac14 042 (CI 90frac14 044048) MECVIfrac14 045 showed lower values than the proposedmodels Standardized estimations for the re-specified model can be observed inFigure 2 The percentage of variance explained by the model seems low for eachretirement pathway because it ranges between 07 and 25 per cent
The examination of the standardized estimates in the final model allows us to state thatour hypotheses have been partially confirmed Related to retirement self-efficacy ourresults showed that it was positively related to full retirement and negatively related topartial and late retirement confirming H1b-H1d The relationship between retirementself-efficacy and bridge employment showed the expected direction (H1a) but failed toreach statistical significance
Related to low work involvement only H2a and H2c were supported Directpathways from low work involvement to full retirement and to partial did not showstatistical relevance (H2b and H2d) Low job involvement showed the hypthesizednegative relationship with partial retirement confirming H3b while the othershypotheses have been rejected (H3a-H3d)
Regarding older worker identity our results confirmed the hypothesizedrelationships positive relationship with full retirement (H4d) and negative relationshipwith late retirement (H4c) whereas data failed to confirm our hypotheses for bridgeemployment (H4a) and partial retirement (H4b) due to lack of statistical significanceFinally regarding relative deprivation only H5a-H5d were confirmed by data whereasH4b failed to reach statistical confirmation
Regarding multivariate analyses Table II shows the main results which showedthat the socio-demographic variables failed to account for the variance of the retirementintention outcomes (see Table II) Retirement self-efficacy was the main significantantecedent (for partial late and full-retirement criteria) with older worker identity andrelative deprivation for full retirement Low work involvement and low job involvementfailed to reach statistical significance
Brief discussion on Study 1Study 1 successfully confirmed the proposed hypotheses First retirement self-efficacyand older worker identity showed powerful positive influences on full retirementintention Second late retirement has been negatively influenced by all the psychosocialfactors Finally partial retirement and bridge employment showed a more complexpattern of relationships according to the percentage of variance accounted for the modelA general discussion in deep will be offered later comprising Studies 1 and 2
Study 2The second study investigated the influences of retirement self-efficacy low workinvolvement older worker identity and relative deprivation on retirement adjustmentBased on the literature reviewed we propose the following hypotheses (see Figure 3)
H6 Regarding person-related variables (a) high retirement self-efficacy will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H7 Regarding retirement-related variables (a) low work involvement will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H8 (a) Low job involvement will be positively related to retirement satisfaction(b) negatively related to feelings of anxiety and (c) of depression
H9 Regarding contextual variables (a) strong older worker identity will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
393
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Bridg
eem
ployment
Partialretirem
ent
Late
retirem
ent
Fullretirem
ent
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
002
002
minus000
minus001
minus013
minus014
minus016
minus016
minus002
minus003
minus006
minus007
004
006
008
010
Employed
time
002
minus000
minus000
001
010
002
001
001
002
minus006
minus006
minus003
minus002
012
011
008
Jobseniority
minus009
minus007
minus006
minus007
minus011
minus005
minus003
minus001
003
008
010
011
013
003
002
001
Independ
entvariables
RSE
minus006
minus002
minus005
minus025
minus021
minus022
minus023
minus019
minus024
044
043
049
LWI
minus011
minus007
minus004
minus004
minus014
minus007
011
004
LJI
minus010
minus013
minus020
minus019
minus012
minus015
004
001
OWI
minus005
minus009
minus021
027
RD
minus019
007
minus014
014
F034
038
114
165
102
297
33
262
008
181
251
374
08
816
565
748
ΔF
034
049
264
309
102
864
372
064
008
69
37
68
080
297
068
106
R2
minus001
minus002
000
004
000
005
009
008
minus002
002
010
018
minus000
017
016
027
ΔR2
0007
0003
004
004
002
005
004
000
000
005
005
008
002
017
000
011
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativ
edeprivation
po
005po
001
p
o0001po
010
Table IIResults ofmultivariateregression analysesfor Study 1 (agedworkers)
394
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
H10 (a) High relative deprivation will be negatively related to retirementsatisfaction (b) positively related to feelings of anxiety and (c) of depression
MethodParticipants and procedureThe Study 2 was conducted with retirees (nfrac14 218) and included participants whohad retired at least two years ago Retirees had previously worked in the sameorganizations that the employees of the first sample They were identified bythe research team through personnel archives of these organizations and then thecollaborators of the research team contacted to the potential participants by e-mailexplained to them the purpose of our study and invited them to participate voluntarilyin exchange of a lottery reward Survey packages sets ndash cover letter informed consentquestionnaire and the return envelope ndash were sent to those who agreed to participateCompleted questionnaires and informed consent were mailed back to the researchersusing the pre-paid return envelope A reminder was sent out to all participants to returnthe survey one month later In total 300 questionnaire packages were distributed and235 retirees returned completed forms After excluding those with several missing data(18 per cent) the final sample size included 218 retirees
These participants had a mean age of 68 years (SDfrac14 72) and the mean timeemployed was 382 years (SDfrac14 109) whereas the mean retired time was 65 years(SDfrac14 58) In this study the percentage of men was 706 per cent Job type distributionshowed that the firms were aimed to education (32 per cent) health (30 per cent) services(12 per cent) manufacturing (18 per cent) and others (8 per cent)
MeasuresAntecedent variables for this study were similar to Study 1 Socio-demographic dataretirement self-efficacy older worker identity low work involvement and relativedeprivation were measured as per Study 1 Reliabilities values in this study wereαfrac14 089 for retirement self-efficacy αfrac14 077 for older worker identity αfrac14 079 for low
+
ndash
ndash
+
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
Feelings ofDepression
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
H6a
H6bH6c
H10aH10b
H10c
Older workeridentity
H7a
H9b
H9c
H9a
Low workinvolvement
H7b
H7c
+
ndash
ndash
+
ndash
ndash
+
ndash
ndash
ndash
Low jobinvolvement
H8a
H8b
H8c
ndash
Figure 3Hypothesized model
for Study 2retirement
adjustment model(retirees)
395
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
work involvement and αfrac14 067 for relative deprivation Consequences were measuredas follows
Retirement satisfaction We used the satisfaction with life subscale of the retirementsatisfaction inventory (Floyd et al 1992) which included 11 items Many aspectsincluded are common to other life satisfaction scales (financial resources or interpersonalrelations) whereas other aspects are particularly relevant for future retirees such asaccess to social services or transportation Cronbachrsquos α reliability for the originalsubscale was αfrac14 081 Respondents used a response scale from 1 (totally unsatisfied)to 5 (totally satisfied)
Feelings of anxiety We used a measure of low psychological well-being developedad hoc for the study based on the model of measurement of well-being proposed byWarr (1990) This measure consisted of a single item ldquoIf you think about yourretirement how much anxiety do you feelrdquo The response scale ranged from 1 (verylittle anxiety) to 5 (quite a lot of anxiety)
Feelings of depression We used a measure of low psychological well-being developedad hoc based on Warr (1990) This measure consisted of a single item ldquoIf you thinkabout your retirement how much depression do you feelrdquo The response scale rangedfrom 1 (very little depression) to 5 (quite a lot of depression)
Overview of analysesSimilar procedures have been used to conduct the data analyses for this study applyingrecommendations to minimize the common method variance exploring correlationsamong the variables third testing hypotheses trough a SEM analysis and finallyconducting multivariate regression analyses which allow us introduce antecedents stepby step The SEM model in Study 2 included four latent exogenous variables and threelatent endogenous variables
ResultsThe results of preliminary exploratory factor analysis showed that a single factor onlyaccounted for 235 per cent of the variance (Podsakoff et al 2003) supporting that wecannot consider the common method variance to be a serious deficiency in this data setTable III show the means standard deviations and inter-correlations Psychosocialfactors showed a complex pattern of relationships Retirement self-efficacy wasnegatively related both to older worker identity and to relative deprivation but had anegligible relation with low work involvement Older worker identity had a positiverelationship both with low work involvement low job involvement and relativedeprivation as expected Consequences were significantly related showing an
expected pattern retirement satisfaction had a negative relationship both with feelingsof anxiety and of depression whereas feelings of anxiety and depression werepositively intercorrelated Contrary to our hypotheses relative deprivation showed anegative relationship with depression
Next we proceeded to test the SEM model Fit indicators of the original model wereinadequate χ2(6)frac14 5451 pfrac14 000 CMINdffrac14 908 GFIfrac14 089 RMSEAfrac14 026AICfrac14 9851 BCCfrac14 10165 ECVIfrac14 082 (CI 90frac14 066105) MECVIfrac14 085 so themodel was re-specified The correlations between retirement self-efficacy low workinvolvement older worker identity and relative deprivation were added obtaining aprogressively better fit Based on their CR statistically nonsignificant relations such asthose between low work involvement and anxiety were eliminated The re-specifiedmodel showed better fit χ2(3)frac14 148 pfrac14 069 CMINdffrac14 049 GFIfrac14 099RMSEAfrac14 000 AICfrac14 515 BCCfrac14 5506 Additional analyses have been carried out totest cross-validation ECVIfrac14 043 (CI 90frac14 044048) MECVIfrac14 046 showed lower valuesthan the proposed models Finally the respecified model and its standardized estimationscan be observed in Figure 4 The percentage of variance explained by the modelseems low for each retirement pathway because it ranges between 27 and 34 per cent
The retirement adjustment model showed thatH6a-H6cwere totally confirmed Relatedto low work involvement only H7awas confirmed because the relationships with anxietyand depression failed to confirm H7b and H7c due to their lack of statistical significanceLow job involvement showed significant relationships with feelings of anxiety and thesedata allow us to confirm H8b while both H8b and H8c have been rejected
Older worker identity had a positive relationship with retirement satisfaction butwithout statistical significance (H9a) whereas the relationships with feelings of anxietyand depression proved to be stronger and negative as hypothesized (H9b and H9c)Regarding relative deprivation H10a-H10c were totally confirmed Regardingmultivariate analyses Table IV shows the main results which showed that the socio-demographic variables failed to account for the variance of the retirement adjustmentoutcomes (see Table IV) Retirement self-efficacy was the main significant antecedent
018
Retirementself-efficacy
Feelings ofDepression
032
032
032
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
ndash016
046
ndash048
H6a
H6bH6c
016H10aH10b
H10c
ndash037
025
Older workeridentity
H8a
011 ns
H9bndash026
H9c ndash026
H9a
017
Low jobinvolvement
H8b ndash019
H7a021Low work
involvement
042
027
045
ndash014
ndash024
ndash045
ndash040
045
Notes n= 218 plt005 plt001
Figure 4Standardized
estimates for Study 2(retirement
adjustment model)
397
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Retirem
entsatisfaction
Feelings
ofanxiety
Feelings
ofdepression
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
005
019
017
016
009
minus003
minus007
minus004
006
minus006
minus007
minus002
Employed
time
000
001
000
000
005
004
008
008
009
009
010
011
Retired
time
003
minus008
minus005
minus004
minus025
minus015
minus011
minus012
minus009
minus000
minus002
minus004
Independ
entvariables
RSE
044
044
044
minus040
minus038
minus039
minus041
minus040
minus042
LWI
000
000
021
020
005
004
LJI
013
011
minus017
minus014
minus015
minus009
OWI
007
minus014
minus028
RD
minus006
011
020
F042
123
909
693
275
1225
96
800
100
1055
789
891
ΔF
042
478
215
071
275
3924
366
272
100
387
207
1016
R2
minus000
018
018
018
002
018
020
021
000
015
016
023
ΔR2
0007
019
002
000
003
015
003
002
001
016
002
007
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativedeprivation
po
005
po
001po
0001po
010
Table IVResults ofmultivariateregression analysesfor Study 2 (retirees)
398
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
(for retirement satisfaction anxiety and depression criteria) with low work involvementolder worker identity and relative deprivation for anxiety and depression feelings Lowjob involvement failed to reach statistical significance for the depression analysis
Brief discussion on Study 2Study 2 provided evidence for the proposed pattern of relationships between retirementself-efficacy low work involvement older worker identity and relative deprivation andretirement adjustment among retirees Despite the absence of a significant associationbetween low work involvement and feelings of anxiety and depression it was shown thatretirement well-being was significantly explained by the hypothesized antecedentsGenerally speaking our data confirmed the proposed pattern of relationships betweenpsychosocial factors on the one hand and retirement adjustment on the other handdespite the fact that some of the pathways did not reach sufficient statistical power
General discussionThis work had two goals pursued by two empirical studies with two samples workersover 60 years and retirees Study 1 was aimed to analyse the impact of psychosocialfactors on retirement intentions Study 2 was conducted to confirm the impact of thesame psychosocial factors on retirement adjustment In general we can state that bothgoals were achieved Specifically we contend that the availability of two different sets ofdata increases the generalizability of our findings On the basis of these data it wasshown that conceptualizing retirement as an adjustment process provides a morecomprehensive approach to understanding the phenomena As Wang and Shultz (2010)emphasized this conceptualization views retirement as incorporating both the pathwaysfrom employment to retirement and a post-retirement trajectory which includes efforts toachieve psychological well-being in retirement As Beehr and Bennett (2007) havementioned although much information on the decision to retire is available there is lessinformation particularly in terms of an underlying framework on what happens toindividuals after they retire (Taylor-Carter and Cook 1995) and especially years afterthey have retired In this sense our study contributes to bridge this gap
Retirement intentionsIn a more general sense in Study 1 we attempted to overcome a generalized criticism tothe life course perspective which seems to provide a general framework for analyzingtransitions and for the study of the heterogeneity in the retirement experience but offersfew concrete hypotheses as to how and why specific life course transitions impinge onwell-being (Szinovacz 2003 Van Solinge 2013) As expected our results showed thathigh retirement self-efficacy low work involvement and strong older worker identitytend to decrease intentions to keep on working and in turn they tend to increase fullretirement intentions At the same time relative deprivation shows the opposite patternwith high values increasing intentions to engage in bridge employment and lateretirement Specifically our results are in line with those of Henkens and Tazelaar (1997)and Van Solinge and Henkens (2007) which found that social embeddedness at workcontributes to worker evaluations about the attractiveness to keep on working
These results partially confirm the general tendency of previous findings ofZaniboni and colleagues (2010) notwithstanding that specific instruments and typeof sample and organization were different In this sense our results supported theexpectation that this pattern of intentions would be confirmed with different sectorssuch as private employees It has been suggested that people have mixed intentions
399
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
The examination of the standardized estimates in the final model allows us to state thatour hypotheses have been partially confirmed Related to retirement self-efficacy ourresults showed that it was positively related to full retirement and negatively related topartial and late retirement confirming H1b-H1d The relationship between retirementself-efficacy and bridge employment showed the expected direction (H1a) but failed toreach statistical significance
Related to low work involvement only H2a and H2c were supported Directpathways from low work involvement to full retirement and to partial did not showstatistical relevance (H2b and H2d) Low job involvement showed the hypthesizednegative relationship with partial retirement confirming H3b while the othershypotheses have been rejected (H3a-H3d)
Regarding older worker identity our results confirmed the hypothesizedrelationships positive relationship with full retirement (H4d) and negative relationshipwith late retirement (H4c) whereas data failed to confirm our hypotheses for bridgeemployment (H4a) and partial retirement (H4b) due to lack of statistical significanceFinally regarding relative deprivation only H5a-H5d were confirmed by data whereasH4b failed to reach statistical confirmation
Regarding multivariate analyses Table II shows the main results which showedthat the socio-demographic variables failed to account for the variance of the retirementintention outcomes (see Table II) Retirement self-efficacy was the main significantantecedent (for partial late and full-retirement criteria) with older worker identity andrelative deprivation for full retirement Low work involvement and low job involvementfailed to reach statistical significance
Brief discussion on Study 1Study 1 successfully confirmed the proposed hypotheses First retirement self-efficacyand older worker identity showed powerful positive influences on full retirementintention Second late retirement has been negatively influenced by all the psychosocialfactors Finally partial retirement and bridge employment showed a more complexpattern of relationships according to the percentage of variance accounted for the modelA general discussion in deep will be offered later comprising Studies 1 and 2
Study 2The second study investigated the influences of retirement self-efficacy low workinvolvement older worker identity and relative deprivation on retirement adjustmentBased on the literature reviewed we propose the following hypotheses (see Figure 3)
H6 Regarding person-related variables (a) high retirement self-efficacy will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H7 Regarding retirement-related variables (a) low work involvement will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
H8 (a) Low job involvement will be positively related to retirement satisfaction(b) negatively related to feelings of anxiety and (c) of depression
H9 Regarding contextual variables (a) strong older worker identity will bepositively related to retirement satisfaction (b) negatively related to feelings ofanxiety and (c) of depression
393
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Bridg
eem
ployment
Partialretirem
ent
Late
retirem
ent
Fullretirem
ent
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
002
002
minus000
minus001
minus013
minus014
minus016
minus016
minus002
minus003
minus006
minus007
004
006
008
010
Employed
time
002
minus000
minus000
001
010
002
001
001
002
minus006
minus006
minus003
minus002
012
011
008
Jobseniority
minus009
minus007
minus006
minus007
minus011
minus005
minus003
minus001
003
008
010
011
013
003
002
001
Independ
entvariables
RSE
minus006
minus002
minus005
minus025
minus021
minus022
minus023
minus019
minus024
044
043
049
LWI
minus011
minus007
minus004
minus004
minus014
minus007
011
004
LJI
minus010
minus013
minus020
minus019
minus012
minus015
004
001
OWI
minus005
minus009
minus021
027
RD
minus019
007
minus014
014
F034
038
114
165
102
297
33
262
008
181
251
374
08
816
565
748
ΔF
034
049
264
309
102
864
372
064
008
69
37
68
080
297
068
106
R2
minus001
minus002
000
004
000
005
009
008
minus002
002
010
018
minus000
017
016
027
ΔR2
0007
0003
004
004
002
005
004
000
000
005
005
008
002
017
000
011
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativ
edeprivation
po
005po
001
p
o0001po
010
Table IIResults ofmultivariateregression analysesfor Study 1 (agedworkers)
394
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
H10 (a) High relative deprivation will be negatively related to retirementsatisfaction (b) positively related to feelings of anxiety and (c) of depression
MethodParticipants and procedureThe Study 2 was conducted with retirees (nfrac14 218) and included participants whohad retired at least two years ago Retirees had previously worked in the sameorganizations that the employees of the first sample They were identified bythe research team through personnel archives of these organizations and then thecollaborators of the research team contacted to the potential participants by e-mailexplained to them the purpose of our study and invited them to participate voluntarilyin exchange of a lottery reward Survey packages sets ndash cover letter informed consentquestionnaire and the return envelope ndash were sent to those who agreed to participateCompleted questionnaires and informed consent were mailed back to the researchersusing the pre-paid return envelope A reminder was sent out to all participants to returnthe survey one month later In total 300 questionnaire packages were distributed and235 retirees returned completed forms After excluding those with several missing data(18 per cent) the final sample size included 218 retirees
These participants had a mean age of 68 years (SDfrac14 72) and the mean timeemployed was 382 years (SDfrac14 109) whereas the mean retired time was 65 years(SDfrac14 58) In this study the percentage of men was 706 per cent Job type distributionshowed that the firms were aimed to education (32 per cent) health (30 per cent) services(12 per cent) manufacturing (18 per cent) and others (8 per cent)
MeasuresAntecedent variables for this study were similar to Study 1 Socio-demographic dataretirement self-efficacy older worker identity low work involvement and relativedeprivation were measured as per Study 1 Reliabilities values in this study wereαfrac14 089 for retirement self-efficacy αfrac14 077 for older worker identity αfrac14 079 for low
+
ndash
ndash
+
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
Feelings ofDepression
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
H6a
H6bH6c
H10aH10b
H10c
Older workeridentity
H7a
H9b
H9c
H9a
Low workinvolvement
H7b
H7c
+
ndash
ndash
+
ndash
ndash
+
ndash
ndash
ndash
Low jobinvolvement
H8a
H8b
H8c
ndash
Figure 3Hypothesized model
for Study 2retirement
adjustment model(retirees)
395
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
work involvement and αfrac14 067 for relative deprivation Consequences were measuredas follows
Retirement satisfaction We used the satisfaction with life subscale of the retirementsatisfaction inventory (Floyd et al 1992) which included 11 items Many aspectsincluded are common to other life satisfaction scales (financial resources or interpersonalrelations) whereas other aspects are particularly relevant for future retirees such asaccess to social services or transportation Cronbachrsquos α reliability for the originalsubscale was αfrac14 081 Respondents used a response scale from 1 (totally unsatisfied)to 5 (totally satisfied)
Feelings of anxiety We used a measure of low psychological well-being developedad hoc for the study based on the model of measurement of well-being proposed byWarr (1990) This measure consisted of a single item ldquoIf you think about yourretirement how much anxiety do you feelrdquo The response scale ranged from 1 (verylittle anxiety) to 5 (quite a lot of anxiety)
Feelings of depression We used a measure of low psychological well-being developedad hoc based on Warr (1990) This measure consisted of a single item ldquoIf you thinkabout your retirement how much depression do you feelrdquo The response scale rangedfrom 1 (very little depression) to 5 (quite a lot of depression)
Overview of analysesSimilar procedures have been used to conduct the data analyses for this study applyingrecommendations to minimize the common method variance exploring correlationsamong the variables third testing hypotheses trough a SEM analysis and finallyconducting multivariate regression analyses which allow us introduce antecedents stepby step The SEM model in Study 2 included four latent exogenous variables and threelatent endogenous variables
ResultsThe results of preliminary exploratory factor analysis showed that a single factor onlyaccounted for 235 per cent of the variance (Podsakoff et al 2003) supporting that wecannot consider the common method variance to be a serious deficiency in this data setTable III show the means standard deviations and inter-correlations Psychosocialfactors showed a complex pattern of relationships Retirement self-efficacy wasnegatively related both to older worker identity and to relative deprivation but had anegligible relation with low work involvement Older worker identity had a positiverelationship both with low work involvement low job involvement and relativedeprivation as expected Consequences were significantly related showing an
expected pattern retirement satisfaction had a negative relationship both with feelingsof anxiety and of depression whereas feelings of anxiety and depression werepositively intercorrelated Contrary to our hypotheses relative deprivation showed anegative relationship with depression
Next we proceeded to test the SEM model Fit indicators of the original model wereinadequate χ2(6)frac14 5451 pfrac14 000 CMINdffrac14 908 GFIfrac14 089 RMSEAfrac14 026AICfrac14 9851 BCCfrac14 10165 ECVIfrac14 082 (CI 90frac14 066105) MECVIfrac14 085 so themodel was re-specified The correlations between retirement self-efficacy low workinvolvement older worker identity and relative deprivation were added obtaining aprogressively better fit Based on their CR statistically nonsignificant relations such asthose between low work involvement and anxiety were eliminated The re-specifiedmodel showed better fit χ2(3)frac14 148 pfrac14 069 CMINdffrac14 049 GFIfrac14 099RMSEAfrac14 000 AICfrac14 515 BCCfrac14 5506 Additional analyses have been carried out totest cross-validation ECVIfrac14 043 (CI 90frac14 044048) MECVIfrac14 046 showed lower valuesthan the proposed models Finally the respecified model and its standardized estimationscan be observed in Figure 4 The percentage of variance explained by the modelseems low for each retirement pathway because it ranges between 27 and 34 per cent
The retirement adjustment model showed thatH6a-H6cwere totally confirmed Relatedto low work involvement only H7awas confirmed because the relationships with anxietyand depression failed to confirm H7b and H7c due to their lack of statistical significanceLow job involvement showed significant relationships with feelings of anxiety and thesedata allow us to confirm H8b while both H8b and H8c have been rejected
Older worker identity had a positive relationship with retirement satisfaction butwithout statistical significance (H9a) whereas the relationships with feelings of anxietyand depression proved to be stronger and negative as hypothesized (H9b and H9c)Regarding relative deprivation H10a-H10c were totally confirmed Regardingmultivariate analyses Table IV shows the main results which showed that the socio-demographic variables failed to account for the variance of the retirement adjustmentoutcomes (see Table IV) Retirement self-efficacy was the main significant antecedent
018
Retirementself-efficacy
Feelings ofDepression
032
032
032
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
ndash016
046
ndash048
H6a
H6bH6c
016H10aH10b
H10c
ndash037
025
Older workeridentity
H8a
011 ns
H9bndash026
H9c ndash026
H9a
017
Low jobinvolvement
H8b ndash019
H7a021Low work
involvement
042
027
045
ndash014
ndash024
ndash045
ndash040
045
Notes n= 218 plt005 plt001
Figure 4Standardized
estimates for Study 2(retirement
adjustment model)
397
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Retirem
entsatisfaction
Feelings
ofanxiety
Feelings
ofdepression
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
005
019
017
016
009
minus003
minus007
minus004
006
minus006
minus007
minus002
Employed
time
000
001
000
000
005
004
008
008
009
009
010
011
Retired
time
003
minus008
minus005
minus004
minus025
minus015
minus011
minus012
minus009
minus000
minus002
minus004
Independ
entvariables
RSE
044
044
044
minus040
minus038
minus039
minus041
minus040
minus042
LWI
000
000
021
020
005
004
LJI
013
011
minus017
minus014
minus015
minus009
OWI
007
minus014
minus028
RD
minus006
011
020
F042
123
909
693
275
1225
96
800
100
1055
789
891
ΔF
042
478
215
071
275
3924
366
272
100
387
207
1016
R2
minus000
018
018
018
002
018
020
021
000
015
016
023
ΔR2
0007
019
002
000
003
015
003
002
001
016
002
007
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativedeprivation
po
005
po
001po
0001po
010
Table IVResults ofmultivariateregression analysesfor Study 2 (retirees)
398
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
(for retirement satisfaction anxiety and depression criteria) with low work involvementolder worker identity and relative deprivation for anxiety and depression feelings Lowjob involvement failed to reach statistical significance for the depression analysis
Brief discussion on Study 2Study 2 provided evidence for the proposed pattern of relationships between retirementself-efficacy low work involvement older worker identity and relative deprivation andretirement adjustment among retirees Despite the absence of a significant associationbetween low work involvement and feelings of anxiety and depression it was shown thatretirement well-being was significantly explained by the hypothesized antecedentsGenerally speaking our data confirmed the proposed pattern of relationships betweenpsychosocial factors on the one hand and retirement adjustment on the other handdespite the fact that some of the pathways did not reach sufficient statistical power
General discussionThis work had two goals pursued by two empirical studies with two samples workersover 60 years and retirees Study 1 was aimed to analyse the impact of psychosocialfactors on retirement intentions Study 2 was conducted to confirm the impact of thesame psychosocial factors on retirement adjustment In general we can state that bothgoals were achieved Specifically we contend that the availability of two different sets ofdata increases the generalizability of our findings On the basis of these data it wasshown that conceptualizing retirement as an adjustment process provides a morecomprehensive approach to understanding the phenomena As Wang and Shultz (2010)emphasized this conceptualization views retirement as incorporating both the pathwaysfrom employment to retirement and a post-retirement trajectory which includes efforts toachieve psychological well-being in retirement As Beehr and Bennett (2007) havementioned although much information on the decision to retire is available there is lessinformation particularly in terms of an underlying framework on what happens toindividuals after they retire (Taylor-Carter and Cook 1995) and especially years afterthey have retired In this sense our study contributes to bridge this gap
Retirement intentionsIn a more general sense in Study 1 we attempted to overcome a generalized criticism tothe life course perspective which seems to provide a general framework for analyzingtransitions and for the study of the heterogeneity in the retirement experience but offersfew concrete hypotheses as to how and why specific life course transitions impinge onwell-being (Szinovacz 2003 Van Solinge 2013) As expected our results showed thathigh retirement self-efficacy low work involvement and strong older worker identitytend to decrease intentions to keep on working and in turn they tend to increase fullretirement intentions At the same time relative deprivation shows the opposite patternwith high values increasing intentions to engage in bridge employment and lateretirement Specifically our results are in line with those of Henkens and Tazelaar (1997)and Van Solinge and Henkens (2007) which found that social embeddedness at workcontributes to worker evaluations about the attractiveness to keep on working
These results partially confirm the general tendency of previous findings ofZaniboni and colleagues (2010) notwithstanding that specific instruments and typeof sample and organization were different In this sense our results supported theexpectation that this pattern of intentions would be confirmed with different sectorssuch as private employees It has been suggested that people have mixed intentions
399
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Bridg
eem
ployment
Partialretirem
ent
Late
retirem
ent
Fullretirem
ent
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
002
002
minus000
minus001
minus013
minus014
minus016
minus016
minus002
minus003
minus006
minus007
004
006
008
010
Employed
time
002
minus000
minus000
001
010
002
001
001
002
minus006
minus006
minus003
minus002
012
011
008
Jobseniority
minus009
minus007
minus006
minus007
minus011
minus005
minus003
minus001
003
008
010
011
013
003
002
001
Independ
entvariables
RSE
minus006
minus002
minus005
minus025
minus021
minus022
minus023
minus019
minus024
044
043
049
LWI
minus011
minus007
minus004
minus004
minus014
minus007
011
004
LJI
minus010
minus013
minus020
minus019
minus012
minus015
004
001
OWI
minus005
minus009
minus021
027
RD
minus019
007
minus014
014
F034
038
114
165
102
297
33
262
008
181
251
374
08
816
565
748
ΔF
034
049
264
309
102
864
372
064
008
69
37
68
080
297
068
106
R2
minus001
minus002
000
004
000
005
009
008
minus002
002
010
018
minus000
017
016
027
ΔR2
0007
0003
004
004
002
005
004
000
000
005
005
008
002
017
000
011
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativ
edeprivation
po
005po
001
p
o0001po
010
Table IIResults ofmultivariateregression analysesfor Study 1 (agedworkers)
394
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
H10 (a) High relative deprivation will be negatively related to retirementsatisfaction (b) positively related to feelings of anxiety and (c) of depression
MethodParticipants and procedureThe Study 2 was conducted with retirees (nfrac14 218) and included participants whohad retired at least two years ago Retirees had previously worked in the sameorganizations that the employees of the first sample They were identified bythe research team through personnel archives of these organizations and then thecollaborators of the research team contacted to the potential participants by e-mailexplained to them the purpose of our study and invited them to participate voluntarilyin exchange of a lottery reward Survey packages sets ndash cover letter informed consentquestionnaire and the return envelope ndash were sent to those who agreed to participateCompleted questionnaires and informed consent were mailed back to the researchersusing the pre-paid return envelope A reminder was sent out to all participants to returnthe survey one month later In total 300 questionnaire packages were distributed and235 retirees returned completed forms After excluding those with several missing data(18 per cent) the final sample size included 218 retirees
These participants had a mean age of 68 years (SDfrac14 72) and the mean timeemployed was 382 years (SDfrac14 109) whereas the mean retired time was 65 years(SDfrac14 58) In this study the percentage of men was 706 per cent Job type distributionshowed that the firms were aimed to education (32 per cent) health (30 per cent) services(12 per cent) manufacturing (18 per cent) and others (8 per cent)
MeasuresAntecedent variables for this study were similar to Study 1 Socio-demographic dataretirement self-efficacy older worker identity low work involvement and relativedeprivation were measured as per Study 1 Reliabilities values in this study wereαfrac14 089 for retirement self-efficacy αfrac14 077 for older worker identity αfrac14 079 for low
+
ndash
ndash
+
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
Feelings ofDepression
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
H6a
H6bH6c
H10aH10b
H10c
Older workeridentity
H7a
H9b
H9c
H9a
Low workinvolvement
H7b
H7c
+
ndash
ndash
+
ndash
ndash
+
ndash
ndash
ndash
Low jobinvolvement
H8a
H8b
H8c
ndash
Figure 3Hypothesized model
for Study 2retirement
adjustment model(retirees)
395
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
work involvement and αfrac14 067 for relative deprivation Consequences were measuredas follows
Retirement satisfaction We used the satisfaction with life subscale of the retirementsatisfaction inventory (Floyd et al 1992) which included 11 items Many aspectsincluded are common to other life satisfaction scales (financial resources or interpersonalrelations) whereas other aspects are particularly relevant for future retirees such asaccess to social services or transportation Cronbachrsquos α reliability for the originalsubscale was αfrac14 081 Respondents used a response scale from 1 (totally unsatisfied)to 5 (totally satisfied)
Feelings of anxiety We used a measure of low psychological well-being developedad hoc for the study based on the model of measurement of well-being proposed byWarr (1990) This measure consisted of a single item ldquoIf you think about yourretirement how much anxiety do you feelrdquo The response scale ranged from 1 (verylittle anxiety) to 5 (quite a lot of anxiety)
Feelings of depression We used a measure of low psychological well-being developedad hoc based on Warr (1990) This measure consisted of a single item ldquoIf you thinkabout your retirement how much depression do you feelrdquo The response scale rangedfrom 1 (very little depression) to 5 (quite a lot of depression)
Overview of analysesSimilar procedures have been used to conduct the data analyses for this study applyingrecommendations to minimize the common method variance exploring correlationsamong the variables third testing hypotheses trough a SEM analysis and finallyconducting multivariate regression analyses which allow us introduce antecedents stepby step The SEM model in Study 2 included four latent exogenous variables and threelatent endogenous variables
ResultsThe results of preliminary exploratory factor analysis showed that a single factor onlyaccounted for 235 per cent of the variance (Podsakoff et al 2003) supporting that wecannot consider the common method variance to be a serious deficiency in this data setTable III show the means standard deviations and inter-correlations Psychosocialfactors showed a complex pattern of relationships Retirement self-efficacy wasnegatively related both to older worker identity and to relative deprivation but had anegligible relation with low work involvement Older worker identity had a positiverelationship both with low work involvement low job involvement and relativedeprivation as expected Consequences were significantly related showing an
expected pattern retirement satisfaction had a negative relationship both with feelingsof anxiety and of depression whereas feelings of anxiety and depression werepositively intercorrelated Contrary to our hypotheses relative deprivation showed anegative relationship with depression
Next we proceeded to test the SEM model Fit indicators of the original model wereinadequate χ2(6)frac14 5451 pfrac14 000 CMINdffrac14 908 GFIfrac14 089 RMSEAfrac14 026AICfrac14 9851 BCCfrac14 10165 ECVIfrac14 082 (CI 90frac14 066105) MECVIfrac14 085 so themodel was re-specified The correlations between retirement self-efficacy low workinvolvement older worker identity and relative deprivation were added obtaining aprogressively better fit Based on their CR statistically nonsignificant relations such asthose between low work involvement and anxiety were eliminated The re-specifiedmodel showed better fit χ2(3)frac14 148 pfrac14 069 CMINdffrac14 049 GFIfrac14 099RMSEAfrac14 000 AICfrac14 515 BCCfrac14 5506 Additional analyses have been carried out totest cross-validation ECVIfrac14 043 (CI 90frac14 044048) MECVIfrac14 046 showed lower valuesthan the proposed models Finally the respecified model and its standardized estimationscan be observed in Figure 4 The percentage of variance explained by the modelseems low for each retirement pathway because it ranges between 27 and 34 per cent
The retirement adjustment model showed thatH6a-H6cwere totally confirmed Relatedto low work involvement only H7awas confirmed because the relationships with anxietyand depression failed to confirm H7b and H7c due to their lack of statistical significanceLow job involvement showed significant relationships with feelings of anxiety and thesedata allow us to confirm H8b while both H8b and H8c have been rejected
Older worker identity had a positive relationship with retirement satisfaction butwithout statistical significance (H9a) whereas the relationships with feelings of anxietyand depression proved to be stronger and negative as hypothesized (H9b and H9c)Regarding relative deprivation H10a-H10c were totally confirmed Regardingmultivariate analyses Table IV shows the main results which showed that the socio-demographic variables failed to account for the variance of the retirement adjustmentoutcomes (see Table IV) Retirement self-efficacy was the main significant antecedent
018
Retirementself-efficacy
Feelings ofDepression
032
032
032
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
ndash016
046
ndash048
H6a
H6bH6c
016H10aH10b
H10c
ndash037
025
Older workeridentity
H8a
011 ns
H9bndash026
H9c ndash026
H9a
017
Low jobinvolvement
H8b ndash019
H7a021Low work
involvement
042
027
045
ndash014
ndash024
ndash045
ndash040
045
Notes n= 218 plt005 plt001
Figure 4Standardized
estimates for Study 2(retirement
adjustment model)
397
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Retirem
entsatisfaction
Feelings
ofanxiety
Feelings
ofdepression
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
005
019
017
016
009
minus003
minus007
minus004
006
minus006
minus007
minus002
Employed
time
000
001
000
000
005
004
008
008
009
009
010
011
Retired
time
003
minus008
minus005
minus004
minus025
minus015
minus011
minus012
minus009
minus000
minus002
minus004
Independ
entvariables
RSE
044
044
044
minus040
minus038
minus039
minus041
minus040
minus042
LWI
000
000
021
020
005
004
LJI
013
011
minus017
minus014
minus015
minus009
OWI
007
minus014
minus028
RD
minus006
011
020
F042
123
909
693
275
1225
96
800
100
1055
789
891
ΔF
042
478
215
071
275
3924
366
272
100
387
207
1016
R2
minus000
018
018
018
002
018
020
021
000
015
016
023
ΔR2
0007
019
002
000
003
015
003
002
001
016
002
007
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativedeprivation
po
005
po
001po
0001po
010
Table IVResults ofmultivariateregression analysesfor Study 2 (retirees)
398
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
(for retirement satisfaction anxiety and depression criteria) with low work involvementolder worker identity and relative deprivation for anxiety and depression feelings Lowjob involvement failed to reach statistical significance for the depression analysis
Brief discussion on Study 2Study 2 provided evidence for the proposed pattern of relationships between retirementself-efficacy low work involvement older worker identity and relative deprivation andretirement adjustment among retirees Despite the absence of a significant associationbetween low work involvement and feelings of anxiety and depression it was shown thatretirement well-being was significantly explained by the hypothesized antecedentsGenerally speaking our data confirmed the proposed pattern of relationships betweenpsychosocial factors on the one hand and retirement adjustment on the other handdespite the fact that some of the pathways did not reach sufficient statistical power
General discussionThis work had two goals pursued by two empirical studies with two samples workersover 60 years and retirees Study 1 was aimed to analyse the impact of psychosocialfactors on retirement intentions Study 2 was conducted to confirm the impact of thesame psychosocial factors on retirement adjustment In general we can state that bothgoals were achieved Specifically we contend that the availability of two different sets ofdata increases the generalizability of our findings On the basis of these data it wasshown that conceptualizing retirement as an adjustment process provides a morecomprehensive approach to understanding the phenomena As Wang and Shultz (2010)emphasized this conceptualization views retirement as incorporating both the pathwaysfrom employment to retirement and a post-retirement trajectory which includes efforts toachieve psychological well-being in retirement As Beehr and Bennett (2007) havementioned although much information on the decision to retire is available there is lessinformation particularly in terms of an underlying framework on what happens toindividuals after they retire (Taylor-Carter and Cook 1995) and especially years afterthey have retired In this sense our study contributes to bridge this gap
Retirement intentionsIn a more general sense in Study 1 we attempted to overcome a generalized criticism tothe life course perspective which seems to provide a general framework for analyzingtransitions and for the study of the heterogeneity in the retirement experience but offersfew concrete hypotheses as to how and why specific life course transitions impinge onwell-being (Szinovacz 2003 Van Solinge 2013) As expected our results showed thathigh retirement self-efficacy low work involvement and strong older worker identitytend to decrease intentions to keep on working and in turn they tend to increase fullretirement intentions At the same time relative deprivation shows the opposite patternwith high values increasing intentions to engage in bridge employment and lateretirement Specifically our results are in line with those of Henkens and Tazelaar (1997)and Van Solinge and Henkens (2007) which found that social embeddedness at workcontributes to worker evaluations about the attractiveness to keep on working
These results partially confirm the general tendency of previous findings ofZaniboni and colleagues (2010) notwithstanding that specific instruments and typeof sample and organization were different In this sense our results supported theexpectation that this pattern of intentions would be confirmed with different sectorssuch as private employees It has been suggested that people have mixed intentions
399
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
H10 (a) High relative deprivation will be negatively related to retirementsatisfaction (b) positively related to feelings of anxiety and (c) of depression
MethodParticipants and procedureThe Study 2 was conducted with retirees (nfrac14 218) and included participants whohad retired at least two years ago Retirees had previously worked in the sameorganizations that the employees of the first sample They were identified bythe research team through personnel archives of these organizations and then thecollaborators of the research team contacted to the potential participants by e-mailexplained to them the purpose of our study and invited them to participate voluntarilyin exchange of a lottery reward Survey packages sets ndash cover letter informed consentquestionnaire and the return envelope ndash were sent to those who agreed to participateCompleted questionnaires and informed consent were mailed back to the researchersusing the pre-paid return envelope A reminder was sent out to all participants to returnthe survey one month later In total 300 questionnaire packages were distributed and235 retirees returned completed forms After excluding those with several missing data(18 per cent) the final sample size included 218 retirees
These participants had a mean age of 68 years (SDfrac14 72) and the mean timeemployed was 382 years (SDfrac14 109) whereas the mean retired time was 65 years(SDfrac14 58) In this study the percentage of men was 706 per cent Job type distributionshowed that the firms were aimed to education (32 per cent) health (30 per cent) services(12 per cent) manufacturing (18 per cent) and others (8 per cent)
MeasuresAntecedent variables for this study were similar to Study 1 Socio-demographic dataretirement self-efficacy older worker identity low work involvement and relativedeprivation were measured as per Study 1 Reliabilities values in this study wereαfrac14 089 for retirement self-efficacy αfrac14 077 for older worker identity αfrac14 079 for low
+
ndash
ndash
+
Ret
irem
ent-
rela
ted
varia
ble
Con
text
ual-r
elat
ed v
aria
bles
P
erso
n-re
late
dva
riabl
e Retirementself-efficacy
Feelings ofDepression
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
H6a
H6bH6c
H10aH10b
H10c
Older workeridentity
H7a
H9b
H9c
H9a
Low workinvolvement
H7b
H7c
+
ndash
ndash
+
ndash
ndash
+
ndash
ndash
ndash
Low jobinvolvement
H8a
H8b
H8c
ndash
Figure 3Hypothesized model
for Study 2retirement
adjustment model(retirees)
395
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
work involvement and αfrac14 067 for relative deprivation Consequences were measuredas follows
Retirement satisfaction We used the satisfaction with life subscale of the retirementsatisfaction inventory (Floyd et al 1992) which included 11 items Many aspectsincluded are common to other life satisfaction scales (financial resources or interpersonalrelations) whereas other aspects are particularly relevant for future retirees such asaccess to social services or transportation Cronbachrsquos α reliability for the originalsubscale was αfrac14 081 Respondents used a response scale from 1 (totally unsatisfied)to 5 (totally satisfied)
Feelings of anxiety We used a measure of low psychological well-being developedad hoc for the study based on the model of measurement of well-being proposed byWarr (1990) This measure consisted of a single item ldquoIf you think about yourretirement how much anxiety do you feelrdquo The response scale ranged from 1 (verylittle anxiety) to 5 (quite a lot of anxiety)
Feelings of depression We used a measure of low psychological well-being developedad hoc based on Warr (1990) This measure consisted of a single item ldquoIf you thinkabout your retirement how much depression do you feelrdquo The response scale rangedfrom 1 (very little depression) to 5 (quite a lot of depression)
Overview of analysesSimilar procedures have been used to conduct the data analyses for this study applyingrecommendations to minimize the common method variance exploring correlationsamong the variables third testing hypotheses trough a SEM analysis and finallyconducting multivariate regression analyses which allow us introduce antecedents stepby step The SEM model in Study 2 included four latent exogenous variables and threelatent endogenous variables
ResultsThe results of preliminary exploratory factor analysis showed that a single factor onlyaccounted for 235 per cent of the variance (Podsakoff et al 2003) supporting that wecannot consider the common method variance to be a serious deficiency in this data setTable III show the means standard deviations and inter-correlations Psychosocialfactors showed a complex pattern of relationships Retirement self-efficacy wasnegatively related both to older worker identity and to relative deprivation but had anegligible relation with low work involvement Older worker identity had a positiverelationship both with low work involvement low job involvement and relativedeprivation as expected Consequences were significantly related showing an
expected pattern retirement satisfaction had a negative relationship both with feelingsof anxiety and of depression whereas feelings of anxiety and depression werepositively intercorrelated Contrary to our hypotheses relative deprivation showed anegative relationship with depression
Next we proceeded to test the SEM model Fit indicators of the original model wereinadequate χ2(6)frac14 5451 pfrac14 000 CMINdffrac14 908 GFIfrac14 089 RMSEAfrac14 026AICfrac14 9851 BCCfrac14 10165 ECVIfrac14 082 (CI 90frac14 066105) MECVIfrac14 085 so themodel was re-specified The correlations between retirement self-efficacy low workinvolvement older worker identity and relative deprivation were added obtaining aprogressively better fit Based on their CR statistically nonsignificant relations such asthose between low work involvement and anxiety were eliminated The re-specifiedmodel showed better fit χ2(3)frac14 148 pfrac14 069 CMINdffrac14 049 GFIfrac14 099RMSEAfrac14 000 AICfrac14 515 BCCfrac14 5506 Additional analyses have been carried out totest cross-validation ECVIfrac14 043 (CI 90frac14 044048) MECVIfrac14 046 showed lower valuesthan the proposed models Finally the respecified model and its standardized estimationscan be observed in Figure 4 The percentage of variance explained by the modelseems low for each retirement pathway because it ranges between 27 and 34 per cent
The retirement adjustment model showed thatH6a-H6cwere totally confirmed Relatedto low work involvement only H7awas confirmed because the relationships with anxietyand depression failed to confirm H7b and H7c due to their lack of statistical significanceLow job involvement showed significant relationships with feelings of anxiety and thesedata allow us to confirm H8b while both H8b and H8c have been rejected
Older worker identity had a positive relationship with retirement satisfaction butwithout statistical significance (H9a) whereas the relationships with feelings of anxietyand depression proved to be stronger and negative as hypothesized (H9b and H9c)Regarding relative deprivation H10a-H10c were totally confirmed Regardingmultivariate analyses Table IV shows the main results which showed that the socio-demographic variables failed to account for the variance of the retirement adjustmentoutcomes (see Table IV) Retirement self-efficacy was the main significant antecedent
018
Retirementself-efficacy
Feelings ofDepression
032
032
032
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
ndash016
046
ndash048
H6a
H6bH6c
016H10aH10b
H10c
ndash037
025
Older workeridentity
H8a
011 ns
H9bndash026
H9c ndash026
H9a
017
Low jobinvolvement
H8b ndash019
H7a021Low work
involvement
042
027
045
ndash014
ndash024
ndash045
ndash040
045
Notes n= 218 plt005 plt001
Figure 4Standardized
estimates for Study 2(retirement
adjustment model)
397
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Retirem
entsatisfaction
Feelings
ofanxiety
Feelings
ofdepression
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
005
019
017
016
009
minus003
minus007
minus004
006
minus006
minus007
minus002
Employed
time
000
001
000
000
005
004
008
008
009
009
010
011
Retired
time
003
minus008
minus005
minus004
minus025
minus015
minus011
minus012
minus009
minus000
minus002
minus004
Independ
entvariables
RSE
044
044
044
minus040
minus038
minus039
minus041
minus040
minus042
LWI
000
000
021
020
005
004
LJI
013
011
minus017
minus014
minus015
minus009
OWI
007
minus014
minus028
RD
minus006
011
020
F042
123
909
693
275
1225
96
800
100
1055
789
891
ΔF
042
478
215
071
275
3924
366
272
100
387
207
1016
R2
minus000
018
018
018
002
018
020
021
000
015
016
023
ΔR2
0007
019
002
000
003
015
003
002
001
016
002
007
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativedeprivation
po
005
po
001po
0001po
010
Table IVResults ofmultivariateregression analysesfor Study 2 (retirees)
398
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
(for retirement satisfaction anxiety and depression criteria) with low work involvementolder worker identity and relative deprivation for anxiety and depression feelings Lowjob involvement failed to reach statistical significance for the depression analysis
Brief discussion on Study 2Study 2 provided evidence for the proposed pattern of relationships between retirementself-efficacy low work involvement older worker identity and relative deprivation andretirement adjustment among retirees Despite the absence of a significant associationbetween low work involvement and feelings of anxiety and depression it was shown thatretirement well-being was significantly explained by the hypothesized antecedentsGenerally speaking our data confirmed the proposed pattern of relationships betweenpsychosocial factors on the one hand and retirement adjustment on the other handdespite the fact that some of the pathways did not reach sufficient statistical power
General discussionThis work had two goals pursued by two empirical studies with two samples workersover 60 years and retirees Study 1 was aimed to analyse the impact of psychosocialfactors on retirement intentions Study 2 was conducted to confirm the impact of thesame psychosocial factors on retirement adjustment In general we can state that bothgoals were achieved Specifically we contend that the availability of two different sets ofdata increases the generalizability of our findings On the basis of these data it wasshown that conceptualizing retirement as an adjustment process provides a morecomprehensive approach to understanding the phenomena As Wang and Shultz (2010)emphasized this conceptualization views retirement as incorporating both the pathwaysfrom employment to retirement and a post-retirement trajectory which includes efforts toachieve psychological well-being in retirement As Beehr and Bennett (2007) havementioned although much information on the decision to retire is available there is lessinformation particularly in terms of an underlying framework on what happens toindividuals after they retire (Taylor-Carter and Cook 1995) and especially years afterthey have retired In this sense our study contributes to bridge this gap
Retirement intentionsIn a more general sense in Study 1 we attempted to overcome a generalized criticism tothe life course perspective which seems to provide a general framework for analyzingtransitions and for the study of the heterogeneity in the retirement experience but offersfew concrete hypotheses as to how and why specific life course transitions impinge onwell-being (Szinovacz 2003 Van Solinge 2013) As expected our results showed thathigh retirement self-efficacy low work involvement and strong older worker identitytend to decrease intentions to keep on working and in turn they tend to increase fullretirement intentions At the same time relative deprivation shows the opposite patternwith high values increasing intentions to engage in bridge employment and lateretirement Specifically our results are in line with those of Henkens and Tazelaar (1997)and Van Solinge and Henkens (2007) which found that social embeddedness at workcontributes to worker evaluations about the attractiveness to keep on working
These results partially confirm the general tendency of previous findings ofZaniboni and colleagues (2010) notwithstanding that specific instruments and typeof sample and organization were different In this sense our results supported theexpectation that this pattern of intentions would be confirmed with different sectorssuch as private employees It has been suggested that people have mixed intentions
399
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
work involvement and αfrac14 067 for relative deprivation Consequences were measuredas follows
Retirement satisfaction We used the satisfaction with life subscale of the retirementsatisfaction inventory (Floyd et al 1992) which included 11 items Many aspectsincluded are common to other life satisfaction scales (financial resources or interpersonalrelations) whereas other aspects are particularly relevant for future retirees such asaccess to social services or transportation Cronbachrsquos α reliability for the originalsubscale was αfrac14 081 Respondents used a response scale from 1 (totally unsatisfied)to 5 (totally satisfied)
Feelings of anxiety We used a measure of low psychological well-being developedad hoc for the study based on the model of measurement of well-being proposed byWarr (1990) This measure consisted of a single item ldquoIf you think about yourretirement how much anxiety do you feelrdquo The response scale ranged from 1 (verylittle anxiety) to 5 (quite a lot of anxiety)
Feelings of depression We used a measure of low psychological well-being developedad hoc based on Warr (1990) This measure consisted of a single item ldquoIf you thinkabout your retirement how much depression do you feelrdquo The response scale rangedfrom 1 (very little depression) to 5 (quite a lot of depression)
Overview of analysesSimilar procedures have been used to conduct the data analyses for this study applyingrecommendations to minimize the common method variance exploring correlationsamong the variables third testing hypotheses trough a SEM analysis and finallyconducting multivariate regression analyses which allow us introduce antecedents stepby step The SEM model in Study 2 included four latent exogenous variables and threelatent endogenous variables
ResultsThe results of preliminary exploratory factor analysis showed that a single factor onlyaccounted for 235 per cent of the variance (Podsakoff et al 2003) supporting that wecannot consider the common method variance to be a serious deficiency in this data setTable III show the means standard deviations and inter-correlations Psychosocialfactors showed a complex pattern of relationships Retirement self-efficacy wasnegatively related both to older worker identity and to relative deprivation but had anegligible relation with low work involvement Older worker identity had a positiverelationship both with low work involvement low job involvement and relativedeprivation as expected Consequences were significantly related showing an
expected pattern retirement satisfaction had a negative relationship both with feelingsof anxiety and of depression whereas feelings of anxiety and depression werepositively intercorrelated Contrary to our hypotheses relative deprivation showed anegative relationship with depression
Next we proceeded to test the SEM model Fit indicators of the original model wereinadequate χ2(6)frac14 5451 pfrac14 000 CMINdffrac14 908 GFIfrac14 089 RMSEAfrac14 026AICfrac14 9851 BCCfrac14 10165 ECVIfrac14 082 (CI 90frac14 066105) MECVIfrac14 085 so themodel was re-specified The correlations between retirement self-efficacy low workinvolvement older worker identity and relative deprivation were added obtaining aprogressively better fit Based on their CR statistically nonsignificant relations such asthose between low work involvement and anxiety were eliminated The re-specifiedmodel showed better fit χ2(3)frac14 148 pfrac14 069 CMINdffrac14 049 GFIfrac14 099RMSEAfrac14 000 AICfrac14 515 BCCfrac14 5506 Additional analyses have been carried out totest cross-validation ECVIfrac14 043 (CI 90frac14 044048) MECVIfrac14 046 showed lower valuesthan the proposed models Finally the respecified model and its standardized estimationscan be observed in Figure 4 The percentage of variance explained by the modelseems low for each retirement pathway because it ranges between 27 and 34 per cent
The retirement adjustment model showed thatH6a-H6cwere totally confirmed Relatedto low work involvement only H7awas confirmed because the relationships with anxietyand depression failed to confirm H7b and H7c due to their lack of statistical significanceLow job involvement showed significant relationships with feelings of anxiety and thesedata allow us to confirm H8b while both H8b and H8c have been rejected
Older worker identity had a positive relationship with retirement satisfaction butwithout statistical significance (H9a) whereas the relationships with feelings of anxietyand depression proved to be stronger and negative as hypothesized (H9b and H9c)Regarding relative deprivation H10a-H10c were totally confirmed Regardingmultivariate analyses Table IV shows the main results which showed that the socio-demographic variables failed to account for the variance of the retirement adjustmentoutcomes (see Table IV) Retirement self-efficacy was the main significant antecedent
018
Retirementself-efficacy
Feelings ofDepression
032
032
032
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
ndash016
046
ndash048
H6a
H6bH6c
016H10aH10b
H10c
ndash037
025
Older workeridentity
H8a
011 ns
H9bndash026
H9c ndash026
H9a
017
Low jobinvolvement
H8b ndash019
H7a021Low work
involvement
042
027
045
ndash014
ndash024
ndash045
ndash040
045
Notes n= 218 plt005 plt001
Figure 4Standardized
estimates for Study 2(retirement
adjustment model)
397
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Retirem
entsatisfaction
Feelings
ofanxiety
Feelings
ofdepression
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
005
019
017
016
009
minus003
minus007
minus004
006
minus006
minus007
minus002
Employed
time
000
001
000
000
005
004
008
008
009
009
010
011
Retired
time
003
minus008
minus005
minus004
minus025
minus015
minus011
minus012
minus009
minus000
minus002
minus004
Independ
entvariables
RSE
044
044
044
minus040
minus038
minus039
minus041
minus040
minus042
LWI
000
000
021
020
005
004
LJI
013
011
minus017
minus014
minus015
minus009
OWI
007
minus014
minus028
RD
minus006
011
020
F042
123
909
693
275
1225
96
800
100
1055
789
891
ΔF
042
478
215
071
275
3924
366
272
100
387
207
1016
R2
minus000
018
018
018
002
018
020
021
000
015
016
023
ΔR2
0007
019
002
000
003
015
003
002
001
016
002
007
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativedeprivation
po
005
po
001po
0001po
010
Table IVResults ofmultivariateregression analysesfor Study 2 (retirees)
398
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
(for retirement satisfaction anxiety and depression criteria) with low work involvementolder worker identity and relative deprivation for anxiety and depression feelings Lowjob involvement failed to reach statistical significance for the depression analysis
Brief discussion on Study 2Study 2 provided evidence for the proposed pattern of relationships between retirementself-efficacy low work involvement older worker identity and relative deprivation andretirement adjustment among retirees Despite the absence of a significant associationbetween low work involvement and feelings of anxiety and depression it was shown thatretirement well-being was significantly explained by the hypothesized antecedentsGenerally speaking our data confirmed the proposed pattern of relationships betweenpsychosocial factors on the one hand and retirement adjustment on the other handdespite the fact that some of the pathways did not reach sufficient statistical power
General discussionThis work had two goals pursued by two empirical studies with two samples workersover 60 years and retirees Study 1 was aimed to analyse the impact of psychosocialfactors on retirement intentions Study 2 was conducted to confirm the impact of thesame psychosocial factors on retirement adjustment In general we can state that bothgoals were achieved Specifically we contend that the availability of two different sets ofdata increases the generalizability of our findings On the basis of these data it wasshown that conceptualizing retirement as an adjustment process provides a morecomprehensive approach to understanding the phenomena As Wang and Shultz (2010)emphasized this conceptualization views retirement as incorporating both the pathwaysfrom employment to retirement and a post-retirement trajectory which includes efforts toachieve psychological well-being in retirement As Beehr and Bennett (2007) havementioned although much information on the decision to retire is available there is lessinformation particularly in terms of an underlying framework on what happens toindividuals after they retire (Taylor-Carter and Cook 1995) and especially years afterthey have retired In this sense our study contributes to bridge this gap
Retirement intentionsIn a more general sense in Study 1 we attempted to overcome a generalized criticism tothe life course perspective which seems to provide a general framework for analyzingtransitions and for the study of the heterogeneity in the retirement experience but offersfew concrete hypotheses as to how and why specific life course transitions impinge onwell-being (Szinovacz 2003 Van Solinge 2013) As expected our results showed thathigh retirement self-efficacy low work involvement and strong older worker identitytend to decrease intentions to keep on working and in turn they tend to increase fullretirement intentions At the same time relative deprivation shows the opposite patternwith high values increasing intentions to engage in bridge employment and lateretirement Specifically our results are in line with those of Henkens and Tazelaar (1997)and Van Solinge and Henkens (2007) which found that social embeddedness at workcontributes to worker evaluations about the attractiveness to keep on working
These results partially confirm the general tendency of previous findings ofZaniboni and colleagues (2010) notwithstanding that specific instruments and typeof sample and organization were different In this sense our results supported theexpectation that this pattern of intentions would be confirmed with different sectorssuch as private employees It has been suggested that people have mixed intentions
399
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
expected pattern retirement satisfaction had a negative relationship both with feelingsof anxiety and of depression whereas feelings of anxiety and depression werepositively intercorrelated Contrary to our hypotheses relative deprivation showed anegative relationship with depression
Next we proceeded to test the SEM model Fit indicators of the original model wereinadequate χ2(6)frac14 5451 pfrac14 000 CMINdffrac14 908 GFIfrac14 089 RMSEAfrac14 026AICfrac14 9851 BCCfrac14 10165 ECVIfrac14 082 (CI 90frac14 066105) MECVIfrac14 085 so themodel was re-specified The correlations between retirement self-efficacy low workinvolvement older worker identity and relative deprivation were added obtaining aprogressively better fit Based on their CR statistically nonsignificant relations such asthose between low work involvement and anxiety were eliminated The re-specifiedmodel showed better fit χ2(3)frac14 148 pfrac14 069 CMINdffrac14 049 GFIfrac14 099RMSEAfrac14 000 AICfrac14 515 BCCfrac14 5506 Additional analyses have been carried out totest cross-validation ECVIfrac14 043 (CI 90frac14 044048) MECVIfrac14 046 showed lower valuesthan the proposed models Finally the respecified model and its standardized estimationscan be observed in Figure 4 The percentage of variance explained by the modelseems low for each retirement pathway because it ranges between 27 and 34 per cent
The retirement adjustment model showed thatH6a-H6cwere totally confirmed Relatedto low work involvement only H7awas confirmed because the relationships with anxietyand depression failed to confirm H7b and H7c due to their lack of statistical significanceLow job involvement showed significant relationships with feelings of anxiety and thesedata allow us to confirm H8b while both H8b and H8c have been rejected
Older worker identity had a positive relationship with retirement satisfaction butwithout statistical significance (H9a) whereas the relationships with feelings of anxietyand depression proved to be stronger and negative as hypothesized (H9b and H9c)Regarding relative deprivation H10a-H10c were totally confirmed Regardingmultivariate analyses Table IV shows the main results which showed that the socio-demographic variables failed to account for the variance of the retirement adjustmentoutcomes (see Table IV) Retirement self-efficacy was the main significant antecedent
018
Retirementself-efficacy
Feelings ofDepression
032
032
032
Feelings ofAnxiety
Relativedeprivation
Retirementsatisfaction
ndash016
046
ndash048
H6a
H6bH6c
016H10aH10b
H10c
ndash037
025
Older workeridentity
H8a
011 ns
H9bndash026
H9c ndash026
H9a
017
Low jobinvolvement
H8b ndash019
H7a021Low work
involvement
042
027
045
ndash014
ndash024
ndash045
ndash040
045
Notes n= 218 plt005 plt001
Figure 4Standardized
estimates for Study 2(retirement
adjustment model)
397
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Retirem
entsatisfaction
Feelings
ofanxiety
Feelings
ofdepression
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
005
019
017
016
009
minus003
minus007
minus004
006
minus006
minus007
minus002
Employed
time
000
001
000
000
005
004
008
008
009
009
010
011
Retired
time
003
minus008
minus005
minus004
minus025
minus015
minus011
minus012
minus009
minus000
minus002
minus004
Independ
entvariables
RSE
044
044
044
minus040
minus038
minus039
minus041
minus040
minus042
LWI
000
000
021
020
005
004
LJI
013
011
minus017
minus014
minus015
minus009
OWI
007
minus014
minus028
RD
minus006
011
020
F042
123
909
693
275
1225
96
800
100
1055
789
891
ΔF
042
478
215
071
275
3924
366
272
100
387
207
1016
R2
minus000
018
018
018
002
018
020
021
000
015
016
023
ΔR2
0007
019
002
000
003
015
003
002
001
016
002
007
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativedeprivation
po
005
po
001po
0001po
010
Table IVResults ofmultivariateregression analysesfor Study 2 (retirees)
398
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
(for retirement satisfaction anxiety and depression criteria) with low work involvementolder worker identity and relative deprivation for anxiety and depression feelings Lowjob involvement failed to reach statistical significance for the depression analysis
Brief discussion on Study 2Study 2 provided evidence for the proposed pattern of relationships between retirementself-efficacy low work involvement older worker identity and relative deprivation andretirement adjustment among retirees Despite the absence of a significant associationbetween low work involvement and feelings of anxiety and depression it was shown thatretirement well-being was significantly explained by the hypothesized antecedentsGenerally speaking our data confirmed the proposed pattern of relationships betweenpsychosocial factors on the one hand and retirement adjustment on the other handdespite the fact that some of the pathways did not reach sufficient statistical power
General discussionThis work had two goals pursued by two empirical studies with two samples workersover 60 years and retirees Study 1 was aimed to analyse the impact of psychosocialfactors on retirement intentions Study 2 was conducted to confirm the impact of thesame psychosocial factors on retirement adjustment In general we can state that bothgoals were achieved Specifically we contend that the availability of two different sets ofdata increases the generalizability of our findings On the basis of these data it wasshown that conceptualizing retirement as an adjustment process provides a morecomprehensive approach to understanding the phenomena As Wang and Shultz (2010)emphasized this conceptualization views retirement as incorporating both the pathwaysfrom employment to retirement and a post-retirement trajectory which includes efforts toachieve psychological well-being in retirement As Beehr and Bennett (2007) havementioned although much information on the decision to retire is available there is lessinformation particularly in terms of an underlying framework on what happens toindividuals after they retire (Taylor-Carter and Cook 1995) and especially years afterthey have retired In this sense our study contributes to bridge this gap
Retirement intentionsIn a more general sense in Study 1 we attempted to overcome a generalized criticism tothe life course perspective which seems to provide a general framework for analyzingtransitions and for the study of the heterogeneity in the retirement experience but offersfew concrete hypotheses as to how and why specific life course transitions impinge onwell-being (Szinovacz 2003 Van Solinge 2013) As expected our results showed thathigh retirement self-efficacy low work involvement and strong older worker identitytend to decrease intentions to keep on working and in turn they tend to increase fullretirement intentions At the same time relative deprivation shows the opposite patternwith high values increasing intentions to engage in bridge employment and lateretirement Specifically our results are in line with those of Henkens and Tazelaar (1997)and Van Solinge and Henkens (2007) which found that social embeddedness at workcontributes to worker evaluations about the attractiveness to keep on working
These results partially confirm the general tendency of previous findings ofZaniboni and colleagues (2010) notwithstanding that specific instruments and typeof sample and organization were different In this sense our results supported theexpectation that this pattern of intentions would be confirmed with different sectorssuch as private employees It has been suggested that people have mixed intentions
399
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Criterion
variables
Retirem
entsatisfaction
Feelings
ofanxiety
Feelings
ofdepression
Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4Step
1Step
2Step
3Step
4
Predictors
Controls
βAge
005
019
017
016
009
minus003
minus007
minus004
006
minus006
minus007
minus002
Employed
time
000
001
000
000
005
004
008
008
009
009
010
011
Retired
time
003
minus008
minus005
minus004
minus025
minus015
minus011
minus012
minus009
minus000
minus002
minus004
Independ
entvariables
RSE
044
044
044
minus040
minus038
minus039
minus041
minus040
minus042
LWI
000
000
021
020
005
004
LJI
013
011
minus017
minus014
minus015
minus009
OWI
007
minus014
minus028
RD
minus006
011
020
F042
123
909
693
275
1225
96
800
100
1055
789
891
ΔF
042
478
215
071
275
3924
366
272
100
387
207
1016
R2
minus000
018
018
018
002
018
020
021
000
015
016
023
ΔR2
0007
019
002
000
003
015
003
002
001
016
002
007
Notes
RSE
retirem
entself-efficacy
LWIlow
workinvolvem
entLJIlow
jobinvolvem
entOWIolderworkeridentity
RDrelativedeprivation
po
005
po
001po
0001po
010
Table IVResults ofmultivariateregression analysesfor Study 2 (retirees)
398
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
(for retirement satisfaction anxiety and depression criteria) with low work involvementolder worker identity and relative deprivation for anxiety and depression feelings Lowjob involvement failed to reach statistical significance for the depression analysis
Brief discussion on Study 2Study 2 provided evidence for the proposed pattern of relationships between retirementself-efficacy low work involvement older worker identity and relative deprivation andretirement adjustment among retirees Despite the absence of a significant associationbetween low work involvement and feelings of anxiety and depression it was shown thatretirement well-being was significantly explained by the hypothesized antecedentsGenerally speaking our data confirmed the proposed pattern of relationships betweenpsychosocial factors on the one hand and retirement adjustment on the other handdespite the fact that some of the pathways did not reach sufficient statistical power
General discussionThis work had two goals pursued by two empirical studies with two samples workersover 60 years and retirees Study 1 was aimed to analyse the impact of psychosocialfactors on retirement intentions Study 2 was conducted to confirm the impact of thesame psychosocial factors on retirement adjustment In general we can state that bothgoals were achieved Specifically we contend that the availability of two different sets ofdata increases the generalizability of our findings On the basis of these data it wasshown that conceptualizing retirement as an adjustment process provides a morecomprehensive approach to understanding the phenomena As Wang and Shultz (2010)emphasized this conceptualization views retirement as incorporating both the pathwaysfrom employment to retirement and a post-retirement trajectory which includes efforts toachieve psychological well-being in retirement As Beehr and Bennett (2007) havementioned although much information on the decision to retire is available there is lessinformation particularly in terms of an underlying framework on what happens toindividuals after they retire (Taylor-Carter and Cook 1995) and especially years afterthey have retired In this sense our study contributes to bridge this gap
Retirement intentionsIn a more general sense in Study 1 we attempted to overcome a generalized criticism tothe life course perspective which seems to provide a general framework for analyzingtransitions and for the study of the heterogeneity in the retirement experience but offersfew concrete hypotheses as to how and why specific life course transitions impinge onwell-being (Szinovacz 2003 Van Solinge 2013) As expected our results showed thathigh retirement self-efficacy low work involvement and strong older worker identitytend to decrease intentions to keep on working and in turn they tend to increase fullretirement intentions At the same time relative deprivation shows the opposite patternwith high values increasing intentions to engage in bridge employment and lateretirement Specifically our results are in line with those of Henkens and Tazelaar (1997)and Van Solinge and Henkens (2007) which found that social embeddedness at workcontributes to worker evaluations about the attractiveness to keep on working
These results partially confirm the general tendency of previous findings ofZaniboni and colleagues (2010) notwithstanding that specific instruments and typeof sample and organization were different In this sense our results supported theexpectation that this pattern of intentions would be confirmed with different sectorssuch as private employees It has been suggested that people have mixed intentions
399
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
(for retirement satisfaction anxiety and depression criteria) with low work involvementolder worker identity and relative deprivation for anxiety and depression feelings Lowjob involvement failed to reach statistical significance for the depression analysis
Brief discussion on Study 2Study 2 provided evidence for the proposed pattern of relationships between retirementself-efficacy low work involvement older worker identity and relative deprivation andretirement adjustment among retirees Despite the absence of a significant associationbetween low work involvement and feelings of anxiety and depression it was shown thatretirement well-being was significantly explained by the hypothesized antecedentsGenerally speaking our data confirmed the proposed pattern of relationships betweenpsychosocial factors on the one hand and retirement adjustment on the other handdespite the fact that some of the pathways did not reach sufficient statistical power
General discussionThis work had two goals pursued by two empirical studies with two samples workersover 60 years and retirees Study 1 was aimed to analyse the impact of psychosocialfactors on retirement intentions Study 2 was conducted to confirm the impact of thesame psychosocial factors on retirement adjustment In general we can state that bothgoals were achieved Specifically we contend that the availability of two different sets ofdata increases the generalizability of our findings On the basis of these data it wasshown that conceptualizing retirement as an adjustment process provides a morecomprehensive approach to understanding the phenomena As Wang and Shultz (2010)emphasized this conceptualization views retirement as incorporating both the pathwaysfrom employment to retirement and a post-retirement trajectory which includes efforts toachieve psychological well-being in retirement As Beehr and Bennett (2007) havementioned although much information on the decision to retire is available there is lessinformation particularly in terms of an underlying framework on what happens toindividuals after they retire (Taylor-Carter and Cook 1995) and especially years afterthey have retired In this sense our study contributes to bridge this gap
Retirement intentionsIn a more general sense in Study 1 we attempted to overcome a generalized criticism tothe life course perspective which seems to provide a general framework for analyzingtransitions and for the study of the heterogeneity in the retirement experience but offersfew concrete hypotheses as to how and why specific life course transitions impinge onwell-being (Szinovacz 2003 Van Solinge 2013) As expected our results showed thathigh retirement self-efficacy low work involvement and strong older worker identitytend to decrease intentions to keep on working and in turn they tend to increase fullretirement intentions At the same time relative deprivation shows the opposite patternwith high values increasing intentions to engage in bridge employment and lateretirement Specifically our results are in line with those of Henkens and Tazelaar (1997)and Van Solinge and Henkens (2007) which found that social embeddedness at workcontributes to worker evaluations about the attractiveness to keep on working
These results partially confirm the general tendency of previous findings ofZaniboni and colleagues (2010) notwithstanding that specific instruments and typeof sample and organization were different In this sense our results supported theexpectation that this pattern of intentions would be confirmed with different sectorssuch as private employees It has been suggested that people have mixed intentions
399
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
regarding retirement when they are in a remote anticipation phase (Blanchet et al2005) and those plans change during the proximal phase to retirement (Kosloski et al2001) Despite this fact researchers interested in facilitating adjustment throughplanning should consider the causal link between psychosocial factors and differentpathways The global SEM model and the multivariate regression analyses haveconfirmed that retirement self-efficacy was the main antecedent of retirementtransitions outcomes Our contention is that retirement self-efficacy is probably themost relevant way to help older workers in their retirement planning such assuggested in results from the financial planning field (Neymotin 2010) Consideringthat self-efficacy is developed through role model observations or vicarious experience(Bandura 1997) providing older workers with a wide range of successful retirementmodels would help them to improve their specific self-efficacy Moreover structuredprogrammes designed by counselling psychologists to assist workers in identifyingand observing retirement role models would increase later success
Older workersrsquo identity showed positive impact on full retirement intentions andnegative influence on late retirement These results are in line with Bayl-Smith andGriffin (2014) which showed that late-career worker identity was negatively related towork engagement despite the lack of statistical significance in their research for therelationship between older identity and intended retirement age In a similar vein ourresults are according to Urick and Hollensbe (2014) Specifically they proposed thatindividuals not only integrate generational stereotypes in their identity but also theyenact stereotypical characteristics and base their daily interactions with others on thesestereotypes As a consequence negative features assigned to older workers wouldpromote early retirement intentions (Crego et al 2008) Moreover when recent researchsuggested that the workers are being considered as older at an increasingly youngerage by organizational decision makers (McCarthy et al 2014) which would exacerbateage discrimination in the workplace
Implications for organizations would be derived from our results regarding the agedworkers study First due to the negative impact of relative deprivation on both bridgeemployment and late retirement intentions organizational interventions aimed toenhance positive comparisons between aged and young workers could result in adelayed retirement Second as older worker identity seems to negatively impact on lateretirement organizations interested in the retention of experienced workers shouldprovide them with alternative social categories for identification Identification withcross-cutting categories as gender or profession within the organization should bepromoted in order to avoid the negatives consequences of ageism
Retirement adjustmentAdjustment in retirement has been deeply explored by researchers (Wang 2007 Wangand Shi 2014 Wang et al 2011) but most of the considered factors such as agesocio-economic status financial resources health marital relationships do not fullyexplain why some retirees are satisfied while others are not Instead retirementself-efficacy could function as ldquoa pivotal component of the retirement process steeringworkers to plan for retirement confidently and to execute retirement plans successfullyrdquo(Harper 2005 p 11) Our results supported that retirement self-efficacy has the strongestimpact on the model promoting retirement satisfaction and negatively influencingfeelings of anxiety and depression These findings are in line with previous studies(Donaldson et al 2010 Fretz et al 1989 Harper 2005 Taylor and Shore 1995) indicatingthat retirement self-efficacy ndash or mastery and sense of personal control ndash influences
400
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
retirement transition and adjustment in ways similar to the way self-efficacy influencesother tasks and domains Workers who expect to make the retirement transitionsuccessfully tend to plan to retire at younger ages an indication that retirementself-efficacy influences motivation to attempt retirement transition (Taylor and Shore1995) Workers who have higher levels of retirement self-efficacy tend to experience lesspre-retirement anxiety (Fretz et al 1989)
Our sample of retirees had a mean age of 68 years so they had probably entered intothe retirement phase approximately between three and six years ago Perhaps thisallows us to explain why low work involvement and older worker identity have lessimpact on retirement satisfaction compared with self-efficacy As some author havesuggested (Beehr and Bennett 2007 Taylor and Doverspike 2003) the natureof retirement adjustment shifts over time since it is increasingly viewed as amultidimensional and dynamic process (Szinovacz 2013 Van Solinge 2013) Whereasimmediately after retirement work would still be a source of self-identity and meaningfor retirees factors such as work involvement and worker identity would become lesssalient over time In this sense Wong and Earl (2009) have noted that although yet tobe investigated it is possible that work centrality follows a nonlinear trajectory that iswork centrality might initially enhance retireesrsquo adjustment in the first two years ofretirement but this salutary effect might eventually weaken with time Our resultsseem to support these authorsrsquo assumption and are consistent with the argumentsmade by Taylor-Carter and Cook (1995) within the framework of the work-roleattachment theory If early retirement experiences are centred on replacing work andits rewards (Alcover et al 2012) later adjustment would be more focused on otherrelevant tasks such as maintaining financial independence satisfy personal interestsstaying active negotiating insurance and pension regulations among others
Finally our findings related to the negative impact of relative deprivation onretirement satisfaction and its positive influence on feelings of anxiety and depression areconsistent with previous research Whereas social relations at work influence preferencesto continue work Szinovacz et al (2001) found that family networks plays a dual role Onthe one hand family ties are associated with retirement satisfaction but on the otherfrequency of contact with kin would be perceived as a financial obligation to familymembers These complex relationships between availability of social networks andsatisfaction would explain the moderate impact of relative deprivation on feelings ofanxiety and depression However time elapsed since retirement may also influence theseresults Previous research has found evidence that whilst retirement may initially bedistressing the majority of retirees eventually adjust over time (Nuttman-Shwartz 2004Von Hippel et al 2008) that is the more time a person has been retired the more initialelevation in stress or anxiety dissipates (Wong and Earl 2009) In contrast other studies(Ekerdt et al 1985) have found that optimism was greater for recent retirees andthere was some temporary dysphoria during the second year of retirement Thesecontradictory results seem to support the argument that feelings of well-being aboutretirement may change as time elapses (Beehr and Bennett 2007)
Wang and Shultz (2010) listed several gaps in reviewing the research of retirementtransition and adjustment (see also Wang and Shi 2014) As one of these gaps theynoted that few empirical studies have linked personal attributes to retirementadjustment Given that personal factors have proven their impact on coping stylesand behaviours we focused our research on retirement self-efficacy as a personalattribute that influences retirement adjustment Another cited gap was thatfew studies have examined context-related variables in retirement transition
401
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
and adjustment To the extent that these variables may influence the specific natureof the transition we included older worker identity and relative deprivation ascontextual-related factors
Limitations and future researchDespite the contributions made this multi-sample study has several weaknesses andlimitations that need to be mentioned First related to participants in these studies Weused two independent samples of workers and retirees to prove our two models In orderto explore in depth whether the same factors will maintain their influence over thetransition from work to full retirement we recommend conducting a longitudinal studywith several measures over the years Concerning the size and representativeness of thesamples the limitations of this study are obvious especially those due to the samplingprocedure used Second related to the data collection procedures Wemust add that all thedata proceed from self-reports which can include a source of uncontrolled error from thecommon variance Third related to the variables included in our models Some aspectswere ignored that should be recovered in future investigations For instance previouslevels of life and job satisfaction should be taken into account in order to discard theinfluence of these factors as well as income levels and extent of plan pensionsand healthcare system access Fourth related to the measurement methodologiesWe must recognize as an anonymous reviewer suggested that there is a bias in theantecedent-consequences measurement due to the fact that we have collected data forthe antecedents with multiple ndash items scales but we have employed four single-itemmeasures for criteria in Study 1 and two single-item measures in Study 2 This strongeroperationalization of antecedents should impact our results which would be at leastpartial artefacts of the procedures (Cooper and Richardson 1986) The main reason forthese measures was the need to limit the extension of the questionnaire in order tofacilitate the data collection Fifth related to the specific redaction of some items Amongthe antecedents the three-item scale for relative deprivation reached only a marginalreliability Additionally a refinement of ldquoolder workerrdquomeasures would be advisable dueto the fact that a wide range of age conceptualizations have been revealed by recentstudies in the organizational context (McCarthy et al 2014) Recently Bayl-Smith andGriffin (2014) have developed procedures that distinguish cognitive and affectivecomponents of identification within the older worker identity Among the consequencesand beyond having a single-item measure the retirement intention items would beconsidered rather vague In this sense detailed scales with greater item specificity arerecommendable Although some evidence exists on the reliability and validity of thesemeasures (Zaniboni et al 2010) and it is possible to regard that the current assessment ofthe types of intentions would be close to the concept under examination due to theiraffinity of meaning Despite this fact we agree that future studies should include multipleitems in order to provide a more exhaustive examination of retirement outcomes and inorder to conduct fairer comparisons
Moreover our results have been obtained from Spanish samples and it would limitthe generalizability of the findings In this sense we recognize that the GLOBE studiesfor example characterize the Spanish culture as higher on assertiveness and powerdistance and at the same time lower on humane orientation ( Javidan and House 2001)Perhaps culture could partially affect study results and this allows us to a call forfuture research using other-country samples made
The final concern was that more objective measures should be included in futureresearch Specifically based in extended recognition of the physical health influences
402
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
on retirement intentions and decision (Topa et al 2009) health assessed throughnumber of diseases or medical interventions seems necessary Such as Taylor andSchaffer (2013) suggested there is no simple relationship between antecedents andretirement adjustment We should consider three way interactions betweenantecedents personal characteristics and retirement environment features in order tobetter understand retirement transition and adjustment
Practical implicationsFirst life course perspective emphasize that retirement adjustment as a process shapedby the choices actions and decisions that people take within the opportunities andlimitations of history and contextual circumstances and that is embedded in socialrelationships (Van Solinge 2013) Our results have shown how certain psychosocialfactors in which personal social and contextual factors are involved are related to theadjustment to retirement Particularly work involvement identity and relativedeprivation are very sensitive to the perceptions and changes related to work andsocial context This has important implications for retirement planning andconsequently can influence the project of the life course as well as careerrsquos decisionsand in the subsequent retirement adjustment As Dennis and Thomas Fike (2012)recently pointed out with Boomersrsquo focus shifting from economical concerns to personalsignificance the need and demand for planning information and dialog about late-lifeissues and concerns continues to grow In short organizational and social contextsshould consider all factors that can negatively affect self-efficacy work involvement andidentity of employees in the mid and late-career stages (Wang et al 2013) and thuscontribute to reinforce and strengthen personal and psychosocial resources involved inplanning and adaptation to retirement and to increase our insight into the planning anddecisions older workers make to face retirement (Shultz and Henkens 2010)
And second this study has also two types of implications one for counsellors whowork with aged employees and another for counsellor educators Counselling practicedoes not focus on the use of role models of successful retirement perhaps becausecounsellors are more centred on aged workersrsquo feelings and experiences Recent resultsshowed that retirement policy and planning initiatives should aim to facilitate a holisticapproach to retirement planning for future retirees particularly those facing an early andunexpected retirement considering multiple aspects of individuals both before and afterretirement (Dennis and Thomas Fike 2012) In this sense structured programmes to helpolder workers to observe similarity of abilities and resources between them and themodels would improve their self-efficacy for retirement as Harper (2005) suggestedOn the other hand counsellor education should encourage students to pay attention tothe self-efficacy theory and to use it as a framework for understanding retirementtransition and adjustment In sum this will enable career counsellors to become anintegral part in redefining retirement (Ulrich and Brott 2005) and its growingconsideration as a life event withmultiple transitions within a broader life-course process
ReferencesAlcover CM Crego A Guglielmi D and Chiesa R (2012) ldquoComparison between the Spanish
and Italian early work retirement models A cluster analysis approachrdquo Personnel ReviewVol 41 No 3 pp 380-403 available at httpdxdoiorg10110800483481211212995
Alcover CM Topa G Parry E Fraccaroli F and Depolo M (2014) ldquoBridge employment anintroduction and overview of the handbookrdquo in Alcover CM Topa G Parry E Fraccaroli Fand Depolo M (Eds) Bridge Employment A Research Handbook Routledge London pp 3-24
403
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Baltes BB Rudolph CW and Bal AC (2012) ldquoA review of aging theories and modern workperspectivesrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 117-136
Bandura A (1997) Self-Efficacy The Exercise of Control Freeman New York NY
Bandura A and Jourden FJ (1991) ldquoSelf-regulatory mechanisms governing the impact of socialcomparison on complex decision makingrdquo Journal of Personality and Social PsychologyVol 60 No 6 pp 941-951 available at httpdxdoiorg1010370022-3514606941
Bayl-Smith PH and Griffin B (2014) ldquoAge discrimination in the workplace identifying as a late-career worker and its relationship with engagement and intended retirement agerdquo Journalof Applied Social Psychology Vol 44 No 9 pp 588-599 doi 101111jasp12251
Beehr TA and Bennett MM (2007) ldquoExamining retirement from a multi-level perspectiverdquoin Shultz KS and Adams GA (Eds) Aging and Work in the 21st Century ErlbaumMahwah NJ pp 277-302
Beehr TA and Bowling NA (2013) ldquoVariations on a retirement theme conceptual andoperational definitions of retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 42-55
Blanchet D Brugiavini A and Rainato R (2005) ldquoPathways to retirementrdquo in Boumlrsch-Supan ABrugiavini A Rges HJ Mackenbach J Siegrist J and Weber G (Eds) Health Ageingand Retirement in Europe First Results from the Survey of Health Ageing and Retirement inEurope Mannheim Research Institute for the Economics of Ageing Mannheim pp 246-252
Cahill KE Giandrea MD and Quinn JF (2013) ldquoBridge employmentrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press Oxford pp 293-310
Calvo E Haverstick K and Sass SA (2009) ldquoGradual retirement sense of control and retireesrsquohappinessrdquo Research on Aging Vol 31 No 1 pp 112-135 available at httpdxdoiorg1011770164027508324704
Cooper W and Richardson A (1986) ldquoUnfair comparisonsrdquo Journal of Applied PsychologyVol 71 No 2 pp 179-184 available at doiapaorgjournalsapl712179html
Crego A Alcover CM and Martiacutenez-Iacutentildeigo D (2008) ldquoThe transition process to post-workinglife and its psychosocial outcomes a systematic analysis of Spanish early retireesrsquodiscourserdquo Career Development International Vol 13 No 2 pp 186-204 available at httpdxdoiorg10110813620430810860576
Damman M Henkens K and Kalmijn M (2013) ldquoLate-career work disengagement the role ofproximity to retirement and career experiencesrdquo Journal of Gerontology PsychologicalSciences Vol 68 No 3 pp 455-463 available at httpdxdoiorg101093geronbgbt001(accessed 13 March 2013)
Dennis H and Thomas Fike K (2012) ldquoRetirement planning New context process languageand playersrdquo in Hedge JW and Borman WC (Eds) The Oxford Handbook of Work andAging Oxford University Press New York NY pp 538-548
Desmette D and Gaillard M (2008) ldquoWhen a lsquoworkerrsquo becomes and lsquoolder workerrsquo The effects ofage-related social identity on attitudes towards retirement and workrdquo Career DevelopmentInternational Vol 13 No 2 pp 168-185 available at httpdxdoiorg10110813620430810860567
Dingemans E and Henkens K (2014) ldquoInvoluntary retirement bridge employment andsatisfaction with life a longitudinal investigationrdquo Journal of Organizational BehaviorVol 35 No 4 pp 575-591 available at httpdxdoiorg101002job1914
Donaldson T Earl JK and Muratore AM (2010) ldquoExtending the integrated model of retirementadjustment incorporating mastering and retirement planningrdquo Journal of VocationalBehavior Vol 77 No 2 pp 279-289 available at httpdxdoiorg101016jjvb201003003
404
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Ekerdt DJ Bosse R and Levkoff S (1985) ldquoAn empirical test for phases of retirement findingsfrom the normative aging studyrdquo Journal of Gerontology Vol 40 No 1 pp 95-101 availableat httpdxdoiorg101093geronj40195
Elder G and Johnson M (2003) ldquoThe life course and aging challenges lessons and newdirectionsrdquo in Settersen RA Jr (Ed) Invitation to the Life Course Toward NewUnderstandings of Later Life Baywood Amityville NY pp 49-81
Fletcher W and Hansson R (1991) ldquoAssessing the social components of retirement anxietyrdquoPsychology and Aging Vol 6 No 1 pp 76-85 available at httpdxdoiorg1010370882-79746176
Floyd FJ Haynes SN Doll ER and Winemiller D (1992) ldquoAssessing retirement satisfactionand perceptions of retirement experiencesrdquo Psychology amp Aging Vol 7 No 4 pp 609-621available at httpdxdoiorg1010370882-797474609
Fretz BR Kluge NA Ossana SM Jones SM and Merikangas MW (1989) ldquoInterventiontargets for reducing preretirement anxiety and depressionrdquo Journal of CounsellingPsychology Vol 36 No 3 pp 301-307 available at httpdxdoiorg1010370022-0167363301
Griffeth RW Hom PW and Gaertner S (2000) ldquoA meta-analysis of antecedents and correlatesof employee turnover update moderator tests and research implications for the nextmillenniumrdquo Journal of Management Vol 26 No 3 pp 463-488 available at httpdxdoiorg101177014920630002600305 (accessed 13 March 2013)
Harper M (2005) ldquoRetirement modelling an exploration of the effects of retirement role modelcharacteristics on retirement self-efficacy and life satisfaction in midlife workersrdquoDissertation Abstracts International University of North Carolina GreensboroUMI No 3186005
Henkens K and Tazelaar F (1997) ldquoExplaining retirement decisions of civil servants in TheNetherlands intentions behavior and the discrepancy between the twordquo Research onAging Vol 19 No 2 pp 139-173 available at httpdxdoiorg1011770164027597192001(accessed 13 March 2013)
Hesketh B Griffeth B and Loh V (2011) ldquoA future-oriented retirement transition adjustmentframeworkrdquo Journal of Vocational Behavior Vol 79 No 2 pp 303-314 available at httpdxdoiorg101016jjvb201103008
Javidan M and House RJ (2001) ldquoCultural acumen for the global manager lessons from projectGLOBErdquo Organizational Dynamics Vol 29 No 4 pp 289-305 available at httpdxdoiorg101016S0090-2616(01)00034-1 (accessed 13 March 2013)
Kanungo RN (1982) ldquoMeasurement of job and work involvementrdquo Journal of Applied PsychologyVol 67 No 2 pp 341-349 available at httpdxdoiorg1010370021-9010673341
Kim JE and Moen P (2002) ldquoRetirement transitions gender and psychological well-beinga life-course modelrdquo Journals of Gerontology Series B Psychological Sciences and SocialScience Vol 57 No 2 pp 212-222 available at httpdoi101093geronb573P212
Kosloski K Ekerdt D and DeViney S (2001) ldquoThe role of job-related rewards in retirementplanningrdquo Journal of Gerontology Psychological Sciences Vol B56 No 1 pp 160-169available at httpdxdoiorg101093geronb563p160
McCarthy J Heraty N Cross C and Cleveland JN (2014) ldquoWho is considered an lsquoolderworkerrsquo Extending our conceptualisation of lsquoolderrsquo from an organisational decision makerperspectiverdquo Human Resource Management Journal doi1011111748-858312041
Michinov E Fouquereau E and Fernandez A (2008) ldquoRetireesrsquo social identity and satisfactionwith retirementrdquo International Journal of Aging and Human Development Vol 66 No 1pp 175-194 available at httpdxdoiorg102190ag663a
405
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Mutran EJ Reitzes DC and Fernandez ME (1997) ldquoFactors that influence attitudes towardretirementrdquo Research on Aging Vol 19 No 2 pp 251-273 available at httpdxdoiorg1011770164027597193001
Neymotin F (2010) ldquoLinking self-esteem with the tendency to engage in financial planningrdquoJournal of Economic Psychology Vol 31 No 6 pp 996-1007 available at httpdxdoiorg101016jjoep201008006 (accessed 13 March 2013)
Nuttman-Shwartz O (2004) ldquoLike a high wave adjustment to retirementrdquo Gerontologist Vol 44No 2 pp 229-236 available at httpdxdoiorg101093geront442229
Phillips DR and Siu O (2012) ldquoGlobal aging and aging workersrdquo in Hedge JW andBorman WC (Eds) The Oxford Handbook of Work and Aging Oxford University PressNew York NY pp 11-32
Podsakoff PM Mackenzie SB Lee J and Podsakoff NP (2003) ldquoCommon method biases inbehavioural research a critical review of the literature and recommended remediesrdquoJournal of Applied Psychology Vol 88 No 5 pp 879-903 available at httpdxdoiorg1010370021-9010885879 (accessed 13 March 2013)
Post C Schneer J Reitman F and Ogilvie D (2013) ldquoPathways to retirement a career stageanalysis of retirement age expectationsrdquo Human Relations Vol 66 No 1 pp 87-112available at httpdxdoiorg1011770018726712465657
Quick HE and Moen P (1998) ldquoGender employment and retirement quality a lifecourse approach to the differential experiences of men and womenrdquo Journal ofOccupational Health Psychology Vol 3 No 1 pp 44-64 available at httpdxdoiorg1010371076-89983144
Reitzes DC and Mutran EJ (2006) ldquoLingering identities in retirementrdquo The SociologicalQuarterly Vol 47 No 3 pp 333-359 available at httpdxdoiorg101111j1533-8525200600048x
Roberto KJ and Biggan JR (2014) ldquoKeen groovy wicked or phat it is all cool generationalstereotyping and social identityrdquo in Parry E (Ed) Generational Diversity at Work NewResearch Perspectives Routledge London pp 129-147
Runciman WG (1966) Relative Deprivation and Social Justice A Study of Attitudes to SocialInequality in Twentieth-Century University of California Press Berkeley CA available athttpdxdoiorg101093sf454596 (accessed 13 March 2013)
Shultz KS and Henkens K (2010) ldquoIntroduction to the changing nature of retirement aninternational perspectiverdquo International Journal of Manpower Vol 31 No 2 pp 265-270
Shultz KS and Wang M (2011) ldquoPsychological perspectives on the changing nature ofretirementrdquo American Psychologist Vol 66 No 1 pp 170-179 available at httpdxdoiorg101037a0022411
Smith H Pettigrew T Pippin G and Bialosiewicz S (2011) ldquoRelative deprivation a theoreticaland meta-analytic reviewrdquo Personality and Social Psychology Review Vol 16 No 2pp 203-232 available at httpdxdoiorg1011771088868311430825
Szinovacz M (2003) ldquoContexts and pathways retirement as an institution process andexperiencerdquo in Adams G and Beehr T (Eds) Retirement Reasons Processes and ResultsSpringer New York NY pp 6-52
Szinovacz M (2013) ldquoA multilevel perspective for retirement researchrdquo in Wang M (Ed) TheOxford Handbook of Retirement Oxford University Press New York NY pp 152-173
Szinovacz ME DeViney S and Davey A (2001) ldquoInfluences of family obligations and relationshipson retirement variations by gender race and marital statusrdquo Journal of GerontologyPsychological Sciences Vol 56 pp S20-S27 available at httpdxdoiorg101093geronb561s20
406
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Taylor MA and Doverspike D (2003) ldquoRetirement planning and preparationrdquo in Adams G andBeehr T (Eds) Retirement Reasons Processes and Results Springer New York NYpp 53-82
Taylor MA and Schaffer M (2013) ldquoPlanning and adaptation to retirement the post-retirementenvironment change management resources and need-oriented factors as moderatorsrdquoin Wang M (Ed) The Oxford Handbook of Retirement Oxford University Press New YorkNY pp 249-266 available at httpdxdoiorg101093oxfordhb97801997465210130102
Taylor MA and Shore LM (1995) ldquoPredictors of planned retirement age an application ofBeehrrsquos modelrdquo Psychology and Aging Vol 10 No 1 pp 76-83 available at httpdxdoiorg1010370882-797410176
Taylor-Carter MA and Cook K (1995) ldquoAdaptation to retirement role change and psychologicalresourcesrdquo Career Development Quarterly Vol 44 No 1 pp 67-82 available at httpdxdoiorg101002j2161-00451995tb00530x (accessed 13 March 2013)
Theriault J (1994) ldquoRetirement as a psychosocial transition process of adaptation to changerdquoInternational Journal of Aging and Human Development Vol 38 pp 153-170 available athttpdxdoiorg102190yqau-h8er-2n4k-hatm
Topa G Moriano JA Depolo M Alcover C and Morales J (2009) ldquoAntecedents andconsequences of retirement planning and decision-making a meta-analysis and modelrdquoJournal of Vocational Behavior Vol 75 No 1 pp 38-55 available at httpdxdoiorg101016jjvb200903002
Tougas F Beaton AM and Veilleux F (1991) ldquoWhy women approve of affirmative action thestudy of a predictive modelrdquo International Journal of Psychology Vol 26 No 4 pp 761-776available at httpdxdoiorg10108000207599108247164
Tougas F Lagace M de la Sablonniere R and Kocum L (2004) ldquoA new approach to the linkbetween identity and relative deprivation in the perspective of ageism and retirementrdquoInternational Journal of Aging and Human Development Vol 59 No 1 pp 1-23 available athttpdxdoiorg1021903wtn-63qq-ejmg-bgya
Ulrich LB and Brott PE (2005) ldquoOlder workers and bridge employment redefiningretirementrdquo Journal of Employment Counselling Vol 42 No 2 pp 159-170 available athttpdxdoiorg101002j2161-19202005tb01087x
Urick MJ and Hollensbe EC (2014) ldquoToward an identity-based perspective of generationsrdquoin Parry E (Ed) Generational Diversity at Work New Research Perspectives RoutledgeLondon pp 114 -128
Van der Heijden BIJM Schalk R and Van Veldhoven MJPM (2008) ldquoAgeing and careersEuropean research on long‐term career development and early retirementrdquo CareerDevelopment International Vol 13 No 1 pp 85-94 available at httpdxdoiorg10110813620430810860512
Van Solinge H (2013) ldquoAdjustment to retirementrdquo in Wang M (Ed) The Oxford Handbook ofRetirement Oxford University Press New York NY pp 311-324
Van Solinge H and Henkens K (2005) ldquoCouplesrsquo adjustment to retirement a multi-actorpanel studyrdquo The Journals of Gerontology Series B Psychological Sciences and SocialSciences Vol B60 pp S11-S20 available at httpdxdoiorg101093geronb601S11
Van Solinge H and Henkens K (2007) ldquoInvoluntary retirement the role of restrictivecircumstances timing and social embeddednessrdquo Journal of Gerontology Series BPsychological Sciences and Social Science Vol B62 pp S295-S303 available at httpdxdoiorg101093geronb625S295
Van Solinge H and Henkens K (2008) ldquoAdjustment to and satisfaction with retirement two of akindrdquo Psychology and Aging Vol 23 No 4 pp 422-434 available at httpdxdoiorg1010370882-7974232422
407
Retirementintentions and
adjustment
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
Vanderhorst R and McLaren S (2005) ldquoSocial relationships as predictors of depression andsuicidal ideation in older adultsrdquoAging ampMental Health Vol 9 No 6 pp 517-525 availableat httpdxdoiorg10108013607860500193062 (accessed 13 March 2013)
Von Hippel W Henry JD and Matovic D (2008) ldquoAging and social satisfaction offsettingpositive and negative effectsrdquo Psychology and Aging Vol 23 No 3 pp 435-439 available athttpdxdoiorg1010370882-7974232435
Wang M (2007) ldquoProfiling retirees in the retirement transition and adjustment processexamining the longitudinal change patterns of retireesrsquo psychological well-beingrdquoJournal of Applied Psychology Vol 92 No 4 pp 455-474 available at httpdxdoiorg1010370021-9010922455 (accessed 13 March 2013)
Wang M (2013) ldquoRetirement an introduction and overview of the handbookrdquo in Wang M (Ed)The Oxford Handbook of Retirement Oxford University Press New York NY pp 3-21
Wang M and Shi J (2014) ldquoPsychological research on retirementrdquo Annual Review ofPsychology Vol 65 No 3 pp 209-233 available at httpdxdoiorg101146annurev-psych-010213-115131
Wang M and Shultz KS (2010) ldquoEmployee retirement a review and recommendations forfuture investigationrdquo Journal of Management Vol 36 No 2 pp 172-206 available at httpdxdoiorg1011770149206309347957
Wang M Henkens K and Van Solinge H (2011) ldquoRetirement adjustment a review oftheoretical and empirical advancementsrdquo American Psychologist Vol 66 No 2 pp 204-213available at httpdxdoiorg101037a0022414
Wang M Olson DA and Shultz KS (2013) Mid and Late Career Issues An IntegrativePerspective Routledge New York NY
Warr P (1990) ldquoThe measurement of well-being and other aspects of mental healthrdquo Journal ofOccupational Psychology Vol 63 No 3 pp 193-210 available at httpdxdoiorg101111j2044-83251990tb00521x
Wong JY and Earl JK (2009) ldquoTowards an integrated model of individual psychosocial andorganizational predictors of retirement adjustmentrdquo Journal of Vocational BehaviorVol 75 No 1 pp 1-13 available at httpdxdoiorg101016jjvb200812010
Zaniboni S Sarchielli G and Fraccaroli F (2010) ldquoHow are psychosocial factors related toretirement intentionsrdquo International Journal of Manpower Vol 31 No 3 pp 271-285available at httpdxdoiorg10110801437721011050576
Further readingBeehr TA Glazer S Nielson N and Farmer S (2000) ldquoWork and nonwork predictors of
Corresponding authorDr Gabriela Topa can be contacted at gtopapsiunedes
For instructions on how to order reprints of this article please visit our websitewwwemeraldgrouppublishingcomlicensingreprintshtmOr contact us for further details permissionsemeraldinsightcom
408
CDI204
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
Dow
nloa
ded
by 9
314
513
417
8 A
t 23
16 2
6 A
pril
2016
(PT
)
This article has been cited by
1 Sushanta Kumar Mishra Indian Institute of Management Indore Indore India Kunal Kamal KumarTA Pai Management Institute Manipal India Andy Adcroft University of Surrey Guildford UnitedKingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and NorthernIreland PatrickJ Murphy DePaul University Chicago United States 2016 Minimizing the costof emotional dissonance at work a multi-sample analysis Management Decision 544 [Abstract][PDF]
