Agesim: why it’s time to retire the word ‘retire’

The term ‘retire’ was a word developed in the 16^th century – so why are we still using it? Consult a dictionary for the word retire and you’ll find the following ageist definitions:

• to withdraw
• to retreat
• to stop working because of old age or ill health
• to cease to participate
• to take a machine or piece of equipment out of use because it is old and no longer useful.

Yet for many people, ‘retiring’ from a '9 to 5 job' doesn’t mean stopping work entirely; in fact, almost half of those over 65 are in paid work. Many people choose to continue working well past the age of 65; for them, ‘retirement’ means choosing when and how often they wish to work. Others may choose not to work at all when they reach 65 (or earlier if they have the financial resources) and others through financial and other pressures are compelled to continue working

The Retirement Income Policy Review 2022 states “Older workers are an essential (and growing) part of the workforce.  The over 65s represented 6% of the labour force in 2020 but are expected to increase to 11% in 2073. They will also contribute through their growing power as consumers.  In total the value of all taxes paid by older New Zealanders could rise from $9.7 billion in 2021 to $45.9 billion by 2071. 

In addition, older people continue to contribute through unpaid work, voluntary work and caregiving.  The Royal Commission on Social Policy in 1988 noted that NZ Super is paid in recognition of the continuing contribution to society, through voluntary work and caregiving. This remains true today: the value of unpaid and voluntary work undertaken by older people was estimated to be between $13.9 and $15.5 billion per year in 2021 and is projected to increase to between $69 and $77 billion per year by 2071. Taken together these benefits more than offset current and future projected expenditure on NZ Super.”

"The over 65s contribute more financially than the entire amount of expenditure on benefits."

So, can we establish that the word ‘retire’ doesn’t do justice to those who are 65 and older? A better definition for this stage of life might be ‘Third Age’ (a term coined in the 1980s by English historian Peter Laslett).  Whilst some of the thinking around this has changed since the 1980s there are some interesting points to consider. 

The popular University of the Third Age can be found in New Zealand Aotearoa with many branches around the country. Clearly they have embraced the term.