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Retirement

Retirement is used to describe the status of a worker who has stopped working, usually having reached a determined age or by illness or by personal choice, for example, having the ability to receive an adequate pension. With the increasing number of older people in the global economy, who are also living longer after retirement, there is a clear link between the ability of older people to exercise greater “gray power” and consumerism in later life. On the other hand, there will be a larger number of older people living in poverty and consuming more health services as a result.

Changing Aspects of Retirement

In most countries, retiring at a fixed age was introduced during the nineteenth and twentieth centuries—before then, the absence of pension arrangements meant ...

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